The Following Information Is Available from the Adjusted Trial Balance

question 205

Multiple Choice

The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency.After closing entries are posted,what will be the balance in the Retained earnings account?
$$\begin{array} { l r } \text { Total revenues } & \$ 125,000 \\\text { Total expenses } & 60,000 \\\text { Retained earnings } & 8 0 , 0 0 0 \\\text { Dividends } & 15,000\end{array}$$

• A) $65,000.
• B) $80,000.
• C) $130,000.
• D) $145,000.
• E) $280,000.

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Definitions:

Frozen Yogurt

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Indifference Map

A graphical representation of different bundles of goods between which a consumer is indifferent.

Marginal Rate of Substitution

The pace at which a consumer is capable of sacrificing some portion of one item to obtain a different item, without altering their overall happiness.

Marginal Rate of Substitution

The rate at which a consumer is willing to substitute one good for another while maintaining the same level of utility.