XYZ Reported the Following on Its December 31, 2014, Balance

question 156

Multiple Choice

XYZ reported the following on its December 31, 2014, balance sheet: common shares, no-par, $200,000; unappropriated retained earnings, $40,000; appropriation of retained earnings for bond sinking fund, $10,000; and reserve for possible future inventory losses, $5,000.Therefore, the last line on the retained earnings statement, total appropriated and unappropriated retained earnings should be:

• A)$10,000
• B)$55,000
• C)$15,000
• D)$40,000

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