The Changes in Account Balances for Elder Company for 2009

question 19

Multiple Choice

The changes in account balances for Elder Company for 2009 are as follows: Assuming the only changes in retained earnings in 2009 were for net income and a $50,000 dividend, what was net income for 2009?

• A)$40,000.
• B)$60,000.
• C)$70,000.
• D)$90,000.

---

Definitions:

Electronic Forms

Electronic forms are digitized documents that can be filled out and submitted online, streamlining data collection and processing.

Themes

Central topics or ideas that are explored in a piece of writing, art, or discussion.

Review Sections

Parts of documents, websites, or publications where evaluations, critiques, or summaries of books, products, services, or performances are presented.

Callouts

Text boxes or other design elements in publications used to emphasize or highlight information.