During 2015, Spend-It Corporation Reported Net Income of $200 and Paid

question 75

Multiple Choice

During 2015, Spend-it Corporation reported net income of $200 and paid a $40 stock dividend. Spend-it's December 31, 2014 statement of financial position reported the following items: common
Stock = $220, capital surplus = $180, retained earnings = $300. What is the value of the retained
Earnings account for the December 31, 2015 statement of financial position?

• A) $160
• B) $340
• C) $360
• D) $460
• E) $540

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Definitions:

Hans Eysenck

A German-born psychologist known for his work on the dimensions of personality and its genetic and environmental bases.

Psychology

The scientific study of the mind and behavior, including processes involved in perception, cognition, emotion, and interaction.

Big Five Personality Factors

Five broad dimensions used to describe human personality, including openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Conscientiousness

A personality trait characterized by diligence, carefulness, and a desire to do a task well.