The Following Information Is Available for the Travis Travel Agency

question 191

Multiple Choice

The following information is available for the Travis Travel Agency.After the closing entries have been journalized and posted,what will be the balance in the Retained Earnings account?
$$\begin{array} { | l | r | } \hline \text { Total revenues } & \$ 125,000 \\\hline \text { Total expenses } & 60,000 \\\hline \text { Retained earnings } & 8 0 , 0 0 0 \\\hline \text { Dividends } & 15,000 \\\hline\end{array}$$

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

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