The total equity of Marine Inc at the beginning of 2011 amounted to $4,500. During 2011 the company reported net income of $1,800 and paid a $500 dividend. If retained earnings at the end of 2011 is $2,200, what was beginning contributed capital? Session12021/ACT 140/D1 / Course Documents / Quiz 13 Which of the following is NOT an asset use transaction a. Paying interest on loan b. Paying cash dividends c. Paying utility charges d. Owner investment to start the business Muscat company experienced the following transactions during 2017, its first year in operation. 1. Issued $20,000 of common stock to stockholders. 2. Provided $9,200 of services on account. 3. Paid $2,500 cash for operating expenses. 4. Paid a $200 cash dividend to stockholders. The amount of retained earnings appearing on Muscat Company's December 31, 2017 balance sheet is: a. $2,800 b. $6,500 C $9,500 9700 Armour Inc's balance sheet reported assets of $12,000, liabilities of $5,000 and common stock of $2,000 as of December 31, 2010. If Retained Earnings on the December 31, 2011 balance sheet is $8,000 and Vance paid a $2,000 dividend during 2011, then the amount of income for 2011 was which of the following? a. $5,000 b. $10,000 c. $3,000 d. None of these The total equity of Marine Inc at the beginning of 2011 amounted to $4,500. During 2011 the company reported net income of $1,800 and paid a $500 dividend. If retained earnings at the end of 2011 is $2,200, what was beginning contributed capital? Session12021/ACT 140/D1 / Course Documents / Quiz 13 Which of the following is NOT an asset use transaction a. Paying interest on loan b. Paying cash dividends c. Paying utility charges d. Owner investment to start the business Muscat company experienced the following transactions during 2017, its first year in operation. 1. Issued $20,000 of common stock to stockholders. 2. Provided $9,200 of services on account. 3. Paid $2,500 cash for operating expenses. 4. Paid a $200 cash dividend to stockholders. The amount of retained earnings appearing on Muscat Company's December 31, 2017 balance sheet is: a. $2,800 b. $6,500 C $9,500 9700 Armour Inc's balance sheet reported assets of $12,000, liabilities of $5,000 and common stock of $2,000 as of December 31, 2010. If Retained Earnings on the December 31, 2011 balance sheet is $8,000 and Vance paid a $2,000 dividend during 2011, then the amount of income for 2011 was which of the following? a. $5,000 b. $10,000 c. $3,000 d. None of these