Nina Corphad the Following Net Income (Loss)the First Three Years of of Operation

question 13

Multiple Choice

Nina Corp.had the following net income (loss) the first three years of operation: $7,100,($1,600) ,and $3,600.If the Retained Earnings balance at the end of year three is $1,100,what was the total amount of dividends paid over these three years?

• A)$500.
• B)$0.
• C)$9,100.
• D)$8,000.

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Definitions:

Insurance Policy

A contract between an insurance provider and an individual or entity, offering financial protection against loss or damage as specified in the policy terms.

Adjusting Journal Entry

A record documented at the closing of an accounting cycle to distribute revenues and expenses to the appropriate period they took place in.

General Ledger

A general ledger is a comprehensive record of a company's financial transactions over the life of the organization, serving as the primary source for preparing financial statements.

Supplies Expense

Costs associated with the consumption of supplies necessary for the daily operations of a business, recognized as an expense in the accounting period in which they are used.