Use the Following Information for Questions

question 18

Multiple Choice

Use the following information for questions.
At December 31, 2019, the balance in Helsinki Ltd.'s retained earnings account was $ 420,000. During 2020, Helsinki had the following transactions:
Acquired 5,000 treasury shares at $ 27 a share. The shares are no par and had originally been issued for $ 24 per share. There had been no previous treasury shares transactions.
Sold the 5,000 treasury shares at $ 32 a share.
Reported net income of $ 150,000.
-The balance in retained earnings at December 31, 2020 would be

• A) $ 555,000.
• B) $ 570,000.
• C) $ 585,000.
• D) $ 610,000.

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Definitions:

Between-subjects

A research design in which different groups of participants are exposed to various conditions or variables.

Simultaneously

Occurring, operating, or done at the same time.

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A research approach that combines both qualitative and quantitative methods and data to gain comprehensive insights into a research question.

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