Question
. As of January 1, 20XX, Elenas Store had a balance in its retained earnings account of $100,000. During the year Elenas Store had revenues
. As of January 1, 20XX, Elena’s Store had a balance in its retained earnings account of $100,000. During the year Elena’s Store had revenues of $80,000 and expenses of $45,000. In addition, the business paid cash dividends of $20,000. What is the balance in Retained Earnings at December 31, 20XX for Elena’s Store?
a. $100,000 b. $115,000 c. $135,000 d. $155,000
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
