Jamal Company Began the Year with $84,000 in Its Common

question 252

Multiple Choice

Jamal Company began the year with $84,000 in its Common Stock account and a debit balance in Retained Earnings of $36,000. During the year, the company earned net income of $18,000 and declared and paid $6,000 of dividends. In addition, the company sold additional common stock amounting to $22,000. Based on this information, what should the transaction analysis show for the ending total of all stockholders' equity accounts?

• A) $154,000
• B) $166,000
• C) $82,000
• D) $110,000

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