A Company Had a Beginning Balance in Retained Earnings of $430,000

question 61

Multiple Choice

A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and paid out cash dividends of $56,250 in the current period. The ending balance in retained earnings equals:

• A) $490,000.
• B) $116,250.
• C) $433,750.
• D) $546,250.
• E) $426,250.

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Definitions:

Brown Bear

A large species of bear found in various parts of the world, known for its broad shoulders, humped back, and brown fur.

Fired Gun

refers to discharging a firearm, typically indicating the action of shooting.

Wounded

Injured, especially where the skin or flesh is broken or damaged.

Killed

Terminated or ended, often used in the context of canceling projects or stopping activities.