Based on the Following Information, What Would Be the Beginning

question 211

Multiple Choice

Based on the following information, what would be the beginning balance in the Retained Earnings Account, assuming all accounts have a normal balance?
$\begin{array} { l r l r } \text { Cash } & \$ 6,754 & \text { Dividends } & \$ 2,000 \\\text { Accounts receivable } & 13,733 & \text { Consulting fees earned } & 13,718 \\\text { Office supplies } & 2,625 & \text { Rent expense } & 3,673 \\\text { Land } & 37,153 & \text { Salaries expense } & 6,642 \\\text { Office equipment } & 14,535 & \text { Telephone expense } & 560 \\\text { Accounts payable } & 6,463 & \text { Miscellaneous expense } & 280 \\\text { Common stock } & 54,490 & \text { Retained Earnings } & ?\end{array}$

• A) $0
• B) $13,718
• C) $13,155
• D) $13,284
• E) $2,563

Calculate the total variable manufacturing cost per unit.

Apply cost estimation techniques to administrative expenses and utilities.

Understand and apply the high-low method to analyze cost behavior.

Understand and apply the least-squares regression method to analyze cost behavior.

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Definitions:

Right Hemisphere

The half of the human brain that is typically associated with creative thinking, perception, and spatial abilities.

Hemineglect

A neurological condition, also known as unilateral neglect, where a patient is unable to perceive or respond to stimuli on one side of their body or environment.

Parietal Lobes

Regions of the cerebral cortex in front of the occipital lobes and behind the frontal lobes; these regions are important for the sense of touch and for picturing the layout of spaces in an environment.

Left Hemisphere

The left side of the human brain, associated with analytical thought processes, language, and logic.