Crawford Company Started the Year with $60000 in Its Common

question 93

Multiple Choice

Crawford Company started the year with $60000 in its Common Stock account and a balance in Retained Earnings of $44000.During the year the company earned net income of $48000 and declared and paid $20000 of dividends.In addition the company sold additional common stock amounting to $28000.As a result the amount of its retained earnings at the end of the year would be

• A)$160000.
• B)$72000.
• C)$132000.
• D)$100000.

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Definitions:

Management

The process of planning, organizing, directing, and controlling resources efficiently to achieve objectives.

Managerial Task

Involves responsibilities that a manager needs to perform, which may include planning, organizing, leading, and controlling an organization's resources.

Prediction

The act of forecasting future events based on current or past information, often involving analysis or models.

Explanation

The act of making something clear or understandable through detailed information or reasons.