Question
Paquin Company has the following information available for the most currentyear: Paidin capital, January1, 2014 $475,000 Retainedearnings, January1, 2014 $50,000 Total revenues in 2014 $890,000
Paquin Company has the following information available for the most currentyear:
Paidin capital, January1, 2014 $475,000
Retainedearnings, January1, 2014 $50,000
Total revenues in 2014 $890,000
Total expenses in 2014 $550,000
Dividend declared in 2014 $70,000
What was the balance in Retained Earnings at December31, 2014?
A.
$390,000
B.
$320,000
C.
$405,000
D.
$270,000
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
6th edition
1259864235, 1259864230, 1260159547, 126015954X, 978-1259864230
