The Accountant for Crusoe Company Is Preparing the Company's Statement

question 16

Short Answer

The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: $\begin{array} { l } \text {Retained earnings balance at the beginning of the year }&\$126,000 \\ \text {Cash dividends declared for the year }& 46,000\\ \text {Proceeds from the sale of equipment }& 81,000\\ \text {Gain on the sale of equipment }&7,000 \\ \text {Cash dividends payable at the beginning of the year }&18,000 \\ \text { Cash dividends payable at the end of the year}& 20,000\\ \text { Net income for the year}&92,000 \\\end{array}$

What is the ending balance for retained earnings?
A) $\$ 352,000$
B) $\$ 218000$
C) $\$ 179.000$
D) $\$ 172,000$
E) $\$ 170,000$

• A) \( \$ 352,000 \)
• B) \( \$ 218000 \)
• C) \( \$ 179.000 \)
• D) \( \$ 172,000 \)
• E) \( \$ 170,000 \)

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Definitions:

Dependent Variable

In experimental research, the variable that is tested and measured to see if it is affected by the manipulation of the independent variable.

Experimental Group

The group in an experiment that receives the treatment or intervention being tested, in contrast to the control group.

Control Group

In experimental research, a group of subjects that does not receive the experimental treatment, serving as a baseline to compare with the experimental group.

Extraneous Variable

In experimental research, a variable not controlled that could impact the outcome, potentially introducing error.