The Following Selected Amounts Are Available for Thomas Company What Is Its Ending Retained Earnings Balance?
A) $2,200

question 213

Multiple Choice

The following selected amounts are available for Thomas Company. $\begin{array}{lr}\text { Retained earnings (beginning) } & \$ 2,500 \\\text { Net loss } & 200 \\\text { Cash dividends declared } & 200 \\\text { Stock dividends declared } & 200\end{array}$ What is its ending Retained Earnings balance?

• A) $2,200.
• B) $2,300.
• C) $1,900.
• D) $2,100.

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Definitions:

Social Security

A governmental program providing financial assistance to people with inadequate or no income, especially the elderly, disabled, and families with dependent children.

Unemployment Taxes

This term refers to taxes imposed on employers based on the wages paid to employees, used to fund unemployment insurance programs.

Warranty Obligations

A company's legal responsibility to repair or replace defective products within a specified period.

Warranty Expense

It represents the cost associated with the repair or replacement of defective products under warranty.