Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $160,900 and $214,900, respectively. Also during Year 2, the board of

For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $160,900 and $214,900, respectively. Also during Year 2, the board of directors declared cash dividends of $26,900, which were paid during Year 2. The board also declared a stock dividend, which was issued and required a transfer in the amount of $16,500 to paid-in capital. Total expenses during Year 2 were $41,916. Based on this information, what was the amount of total revenue for Year 2?

A. $146,084

B. $122,816

C. $139,316

D. $134,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and Managerial Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

11th Edition

9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895

More Books

Students also viewed these Accounting questions