C CoReported a Retained Earnings Balance of $200,000 at December 31,2015

question 14

Multiple Choice

C Co.reported a retained earnings balance of $200,000 at December 31,2015.In September 2016,C determined that insurance premiums of $30,000 for the three-year period beginning January 1,2015,had been paid and fully expensed in 2015.C has a 30% income tax rate.What amount should C report as adjusted beginning retained earnings in its 2016 statement of retained earnings?

• A)$210,000.
• B)$214,000.
• C)$220,000.
• D)$221,000.

---

Definitions:

Member Tolerance

refers to the ability of individuals within a group or team to accommodate and adapt to differences among members, such as divergent opinions, behaviors, or working styles.

Superordinate Goals

Shared objectives that require two or more groups to work together, promoting cooperation and reducing intergroup conflict.

Negative Sentiment

Feelings of disapproval or pessimism towards something.

Quantitative Goal

A specific, measurable objective often defined by numerical indicators.