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:

Punctuated Correctly

Written or prepared following the rules and conventions of standard punctuation in a given language.

Coordinating Conjunction

A word used to connect grammatically similar elements within a sentence, such as "and," "but," "or," "so," and "yet."

Punctuated Correctly

the use of symbols like commas, periods, and question marks in writing, following the rules of grammar to clarify meaning.

Lactose Intolerant

A condition in which individuals have difficulty digesting lactose, a sugar found in milk and dairy products, leading to gastrointestinal discomfort.