A Company Had the Following Information The Ending Balance in the Retained Earnings Account Is:
A)

question 81

Multiple Choice

A company had the following information: $\begin{array}{ll}\text { Beginning retained earnings } & \$ 45,000 \\\text { Sales } & \$ 194,000 \\\text { Depreciation expense } & 7,000 \\\text { C ash } & 11,000\\\text { Cost of goods sold } & 102,000 \\\text { Dividends } & 15,000 \\\text { Paid-in capital } & 26,000 \\\text { W age expense } & 40,000 \\\text { Rent expens e } & 12,000 \\\text { Prep aid rent } & 2,000\end{array}$ The ending balance in the Retained Earnings account is:

• A) $65,000
• B) $74,000
• C) $61,000
• D) $63,000

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Definitions:

Administrative Hearing

A legal proceeding before a governmental agency or administrative body, offering parties an opportunity to dispute decisions made by the agency.

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Government In The Sunshine Act

A U.S. law that requires meetings of agencies or governing bodies to be open to the public, promoting transparency and accountability.

Securities And Exchange Commission

A U.S. federal agency responsible for enforcing the federal securities laws, regulating the securities industry, and protecting investors.