Use This Information to Answer the Following Question

question 58

Multiple Choice

Use this information to answer the following question. Here is the balance sheet for Marron Pickle Company,Inc.:
If the equipment were sold for $26,000 cash,then the Retained Earnings account would

• A) increase by $74,000.
• B) increase by $26,000.
• C) decrease by $26,000.
• D) stay the same.

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Definitions:

Check Register

A record-keeping tool for tracking all checks written, deposits made, and balances in a checking account, aiding in financial management.

Outstanding Deposits

Funds that have been submitted for deposit but have not yet been processed or credited to the account.

Bank Statement

A document provided by a bank that summarizes an account's transactions and balances over a specific period.

Check Register

A record kept by an account holder of checks written, deposits made, and the current balance of the checking account.