Pinson Company Began the Year with Retained Earnings of $670,000

question 131

Multiple Choice

Pinson Company began the year with retained earnings of $670,000. During the year, the company recorded revenues of $600,000, expenses of $380,000, and paid dividends of $140,000. What was Pinson's retained earnings at the end of the year?

• A)$1,030,000
• B)$750,000
• C)$1,130,000
• D)$600,000

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Definitions:

Tail

The section at the extreme end of a distribution curve, representing outcomes that are less likely to occur.

Histogram

A graphical representation of the distribution of numerical data, where the data are grouped into ranges and depicted as bars.

Modal Class

The class interval with the highest frequency in a frequency distribution, representing the most common category or range of data.

Observations

The collection of data points or information obtained through watching, measuring, or recording something.