Question
Guard Corporation had $550,000 of retained earnings at January 1, and declared dividends of $50,000. Retained earnings at December 31 were $625,000. What was the
Guard Corporation had $550,000 of retained earnings at January 1, and declared dividends of $50,000. Retained earnings at December 31 were $625,000. What was the profit for the year?
$25,000
$75,000
$125,000
$50,000
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Accounting Information Systems
Authors: George H. Bodnar, William S. Hopwood
8th Edition
0130861774, 9780130861771
