-The Ending Balance in Retained Earnings Is
A)$53,000
B)$47,000
C)$3,000

question 166

Multiple Choice

$\begin{array}{c}\text { Finley Company }\\\text { End-of-Period Spreadsheet }\\\text { For the Year Ended December } 31\\\begin{array}{|l|r|r|}\hline {\text { Account Title }} & {\text { Debit }} & {\text { Credit }} \\\hline \text { Cash } & 48,000 & \\\hline \text { Accounts Receivable } & 18,000 & \\\hline \text { Supplies } & 6,000 & \\\hline \text { Equipment } & 57,000 & \\\hline \text { Accumulated Depr. } & & 18,000 \\\hline \text { Accounts Payable } & & 25,000 \\\hline \text { Wages Payable } & & 6,000 \\\hline \text { Common Stock } & & 30,000 \\\hline \text { Retained Earnings } & & 3,000 \\\hline \text { Dividends } & 3,000 & \\\hline \text { Fees Earned } & & 155,000 \\\hline \text { Wages Expense } & 63,000 & \\\hline \text { Rent Expense } & 27,000 & \\ \hline \text { Depreciation Expense } & 15,000 & \\\hline \text { Totals } & \underline{237,000} & \underline{237,000} \\\hline \text { Net Income Loss } & & \\\hline\\\hline\end{array}\begin{array}{r|r|r|r|}\hline \text { Debit } & \text { Credit } & \text { Debit } & \text { Credit } \\\hline & & 48,000 & \\\hline & & 18,000 & \\\hline & & 6,000 & \\\hline & & 57,000 & \\\hline & & & 18,000 \\\hline & & & 25,000 \\\hline & & & 6,000 \\\hline & & & 30,000 \\\hline & & & 3,000 \\\hline & & 3,000 & \\\hline & 155,000 & & \\\hline 3,000 & & & \\\hline 27,000 & & & \\\hline 15,000 & & & \\\hline 105,000 & 155,000 & 132,000 & 82,000 \\\hline 50,000 & & & 50,000 \\\hline 155,000 & \underline{155,000} & \underline{132,000} & \underline{132,000} \\\hline\end{array}\end{array}$


-The ending balance in retained earnings is

• A)$53,000
• B)$47,000
• C)$3,000
• D)$50,000

Discuss the impact of inflation on the value of money.

Understand the regulatory framework of banking and its impact on bank operations and stability.

Recognize the practical applications and implications of monetary concepts on personal finance decisions.

Explain the mechanisms in place to prevent bank panics and ensure the stability of the banking system.

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Definitions:

This Glass of Pepsi

A specific instance of a beverage, served in a glass, that is being referred to in the context.

Beverage

A liquid intended for human consumption to fulfill thirst and sometimes to provide nutrition or pleasure.

Concept

An abstract idea or a mental symbol used to understand or categorize things by grouping them based on common characteristics.

Furniture

Movable articles in a room or establishment that make it fit for living or working.