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On December 31, 2018, Carrier Corp reported a balance for retained earnings of $65,000. During 2019, the company reported net income of $230,000, and declared
On December 31, 2018, Carrier Corp reported a balance for retained earnings of $65,000. During 2019, the company reported net income of $230,000, and declared and paid a $40,000 dividend. The December 31, 2019 balance sheet should report a balance for retained earnings of $190,000 $295,000 $255,000 $335.000 Question 10 3 pts Consider the following events for Henkle Decorating, Inc. March 3 Henkle signs a contract to decorate Pat's home for a price of $3,800 March 10 Henkle purchases decorating supplies at a cost of $800 March 20 Henkle receives $1.200 as a down payment from Pat March 28 Henkle decorates Pat's home April 1 Henkle receives the final payment of $2,600 from Pat Under accrual basis accounting, when should Henkle record revenue for decorating services? March 28 April 1 March 20 March 3
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