DW Has an Ending Retained Earnings Balance of $51,100

question 22

Multiple Choice

DW has an ending Retained Earnings balance of $51,100.If during the year DW paid dividends of $4,300 and had net income of $22,500,then what was the beginning Retained Earnings balance?

• A)$24,300.
• B)$32,900.
• C)$300.
• D)$69,300.

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Definitions:

Psychological Defenses

Mechanisms employed by the psyche to protect the individual from anxiety-producing thoughts or feelings.

Aggression

A behavior aimed at causing harm or pain to others.

Goal Setting

The process of identifying specific, measurable, attainable, relevant, and time-bound objectives to achieve desired results.

Profit-Sharing Plan

A company program that distributes a portion of its profits to its employees, typically in the form of bonuses or as part of retirement benefits.