Nelson Company Had Equity Accounts in 2008 as Follows Projected Income Is $150,000 and 40% of This Amount Will

question 10

Multiple Choice

Nelson Company had equity accounts in 2008 as follows: $\begin{array}{llcc} \text {Common Stock (\$1 Par Value) } &\$120,000 \\ \text {Retained Earnings } &\underline{32,000}\\ \text {Total Shareholder's Equity } &\$152,000\\\end{array}$
Projected income is $150,000 and 40% of this amount will be paid out immediately as dividends.What will the ending retained earnings account be?

• A)$90,000
• B)$92,000
• C)$122,000
• D)$210,000
• E)$242,000

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Definitions:

Vestibulocochlear Nerve

The eighth cranial nerve that carries auditory (hearing) and vestibular (balance) information from the inner ear to the brain.

Cranial Nerve Function

Refers to the respective roles and activities of the twelve cranial nerves that emerge directly from the brain, overseeing a range of sensory and motor functions.

Physician

A medical professional who diagnoses, treats, and helps prevent diseases and injuries that commonly occur in humans.

Glossopharyngeal Nerve

The ninth cranial nerve, which sends sensory and motor information to the pharynx, tongue, and other areas, playing a key role in swallowing and taste perception.