During January 2022 Its First Month of Operation Osborn Enterprises

question 124

Multiple Choice

During January 2022 its first month of operation Osborn Enterprises earned net income of $6800 and paid dividends to the owners of $2000.At January 31 the balance in Retained Earnings will be

• A)$0.
• B)$6800
• C)$4800
• D)$2000

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Definitions:

Debtor's Property

Assets or properties owned by an individual or entity that owes money to creditors.

Mechanic

A skilled worker who repairs and maintains machinery, equipment, or vehicles.

Music Room

A dedicated space designed for the practice, composition, and enjoyment of music, often equipped with musical instruments and sound-proofing.

Lien

A legal right or claim against a property by a creditor, securing the payment of a debt or the performance of some obligation.