A Corporation Reported a Net Income of $120,000 for Its

question 75

Multiple Choice

A corporation reported a net income of $120,000 for its fiscal year and declared and paid cash dividends of $50,000.A stock dividend recorded at $80,000 was also distributed during the year.If the beginning balance of the Retained Earnings account was $200,000,the ending balance is

• A) $170,000.
• B) $190,000.
• C) $200,000.
• D) $270,000.

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Definitions:

Technological Advancements

Developments and innovations in technology that improve efficiency, productivity, and capability in various sectors.

Immigrant Parents

Individuals who have moved from one country to another and have children, often facing unique challenges and opportunities in their new homeland.

Intel Science Talent Search

A prestigious pre-college science competition in the United States, sponsored by Intel, aimed at encouraging research and innovation among young scientists.

Underdeveloped Countries

Nations characterized by low levels of income, industrialization, and general standards of living often accompanied by high rates of poverty.