The Retained Earnings Balance of the Jackman Company Was $50

question 21

Multiple Choice

The retained earnings balance of The Jackman Company was $50 000 on the first day of the accounting year. Profit during the year was $120 000. At the end of the accounting year a dividend of $15 000 was declared. The dividend will be paid the following year. The year-end balance of retained earnings is:

• A) $120 000.
• B) $185 000.
• C) $105 000.
• D) $155 000.

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Definitions:

Excludable

A characteristic of a good or service that allows its owner to prevent others from using it without permission.

Rival In Consumption

A term indicating that the consumption of a good or service by one person diminishes the ability of another person to consume the same good or service.

Tragedy

Tragedy is a form of drama based on human suffering that invokes an accompanying catharsis or pleasure in audiences.

Excessive Use

The overuse or misuse of a resource or product, often leading to depletion or damage of the resource and negative externalities.