The Following Selected Amounts Are Available for Vizio Company What Is Its Ending Retained Earnings Balance?
A) $1300
B)

question 170

Multiple Choice

The following selected amounts are available for Vizio Company. $$\begin{array} { l r } \text { Retained earnings (beginning) } & \$ 1,600 \\\text { Net loss } & 300 \\\text { Cash dividends declared } & 200 \\\text { Stock dividends declared } & 200\end{array}$$ What is its ending retained earnings balance?

• A) $1300
• B) $1400
• C) $900
• D) $1200

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Definitions:

Bad Debt Expense

A charge to the income statement that represents the amount of non-collectable accounts receivable that occurs in a given period.

Open Invoice

An invoice that has been issued by a seller to a buyer, but has not yet been paid.

Credit Card Payment

A transaction method allowing purchasers to buy goods or services using credit issued by a bank or financial institution.

Progress Billing

A billing method where payments are made to a contractor by a client at various stages of a project, based on progress.