The Net Income of Harriet,Inc

question 108

Multiple Choice

The net income of Harriet,Inc.for the year is $35,000.The dividends declared during the year were $43,000.Which of the following statements is true?

• A)Retained Earnings account decreases by $35,000.
• B)Retained Earnings account decreases by $8,000.
• C)Retained Earnings account increases by $43,000.
• D)Retained Earnings will remain the same.

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Definitions:

Organic Product

A substance that has been derived from living matter, or chemically synthesized to mimic compounds produced by living organisms.

Alkyl Halides

Organic compounds containing a halogen atom (F, Cl, Br, I) attached to an alkyl group, widely used in organic synthesis and as solvents or reactants.

Sodium Methoxide

A chemical compound with the formula CH3ONa, used as a strong base and nucleophile in organic synthesis.

Alkene Product

A chemical compound resulting from reactions involving alkenes, characterized by a carbon-carbon double bond.