Lloyd Company Ends the First Year of Operations with $2

question 54

Essay

Lloyd Company ends the first year of operations with $2.2 million in retained earnings when no dividends were paid out.Since the company began operations on January 1^st,20B of the current year ending December 31^st,20B calculate the amount of beginning retained earnings and explain your answer.

---

Definitions:

Electra Complex

A psychoanalytic concept proposed by Freud, describing a girl's sense of competition with her mother for the affection of her father.

Collective Unconscious

A concept proposed by Carl Jung, suggesting that part of the unconscious mind is shared among beings of the same species containing innate, universal predispositions.

Erogenous Zones

Areas of the body particularly sensitive to stimulation, which can lead to sexual arousal.

Henry Murray

Henry Murray was an American psychologist who developed a theory of personality that emphasized the importance of needs and motivations in understanding human behavior.