The Following Pre-Closing Accounts and Balances Were Drawn from the Records

question 14

Multiple Choice

The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 2: $$\begin{array} { l lll} \text { Cash } & \$ 3,800& \text { Accounts receivable } & \$1,550\\\text { Dividends} &1,900& \text { common stock } &2,375 \\\text { Land } &2,200 &\text { Revenue } &2,200 \\\text { Accounts payable } & 1,150 &\text { Expense } & 1,250\end{array}$$

What is the amount of retained earnings that will be shown on the balance sheet at December 31, Year 2?

• A) $3,075
• B) $4,975
• C) $6,000
• D) $4,025

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Definitions:

Gerrit Thomas Rietveld

A Dutch architect and furniture designer, recognized for his contribution to the De Stijl movement and designs like the Red and Blue Chair.

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A Dutch painter famous for his contribution to the De Stijl art movement, known for his abstract works characterized by horizontal and vertical lines and primary colors.

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Artwork made primarily or entirely of stainless steel, valued for its durability, resistance to corrosion, and modern aesthetic.

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A renowned Soviet sculptor and artist, best known for her monumental public sculptures and socialist realism works.