RVR Enterprises shows net income of ($ 100,000) for 2018 and retained earnings of ($ 500,000) on
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RVR Enterprises shows net income of \(\$ 100,000\) for 2018 and retained earnings of \(\$ 500,000\) on its December 31, 2018 . statement of financial position. During the year, RVR declared and paid \(\$ 60,000\) in dividends. What was RVR's retained earnings balance at December 31, 2017?
a. \(\$ 540,000\)
b. \(\$ 460,000\)
c. \(\$ 440,000\)
d. \(\$ 400,000\)
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Related Book For
Cornerstones Of Financial Accounting
ISBN: 9780176707125
2nd Canadian Edition
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
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