Kincaid Company's Retained Earnings Balance on January 1 Was $6,000

question 159

Multiple Choice

Kincaid Company's Retained Earnings balance on January 1 was $6,000. During the current year, Kincaid earned $3,400 in revenues and incurred $4,200 in expenses. Kincaid paid $2,500 in dividends, all in cash. After the closing entries are made, Kincaid's Retained Earnings balance on December 31 will be:

• A) $4,300.
• B) $7,700.
• C) $6,000.
• D) $2,700.

Understand the importance of tailoring communication towards quick responses.

Identify key elements of persuasive problem-solving messages.

Recognize components not included in effective problem-solving messages.

Determine actions that increase credibility in business communication.

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Definitions:

Analyzing Arguments

The process of breaking down logical statements into their component parts to assess their validity and soundness.

Sarcastic

Characterized by the use of irony or mockery to mock or convey contempt.

Ironic

Describing situations that are strange or amusing because they are the opposite of what is expected.

Deliberation

The process of thoughtfully considering and discussing various options or opinions before making a decision or judgment.