During January 2014, Its First Month of Operation, Osborn Enterprises

question 193

Multiple Choice

During January 2014, its first month of operation, Osborn Enterprises earned net income of $1,700 and paid dividends to the owners of $500. At January 31, the balance in Retained Earnings will be

• A) $0.
• B) $1,700 credit.
• C) $1,200 credit.
• D) $500 debit.

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