Benedict Company Compiled the Following Financial Information as of December

question 42

Multiple Choice

Benedict Company compiled the following financial information as of December 31, 2014: $$\begin{array} { l r } \text { Service revenue } & \$ 560,000 \\\text { Common stock } & 120,000 \\\text { Equipment } & 160,000 \\\text { Operating expenses } & 500,000 \\\text { Cash } & 140,000 \\\text { Dividends } & 40,000 \\\text { Supplies } & 20,000 \\\text { Accounts payable } & 80,000 \\\text { Accounts receivable } & 60,000 \\\text { Retained earnings, } 1 / 1 / 14300,000\end{array}$$ Benedict's retained earnings on December 31, 2014 are

• A) $300,000.
• B) $360,000.
• C) $320,000.
• D) $ 20,000.

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Definitions:

Alienation

Describes the estrangement of individuals from themselves, their work, or society, often discussed in the context of labor and social structures.

Sartre

Jean-Paul Sartre, a French existentialist philosopher, playwright, novelist, political activist, and literary critic noted for his analysis of the nature of existence and freedom.

Mitwelt

A term from existential psychology referring to the world of relationships with others and the social environment.

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone; the highest level of psychological development in Maslow's hierarchy of needs.