Answered step by step
Verified Expert Solution
Question
1 Approved Answer
. XYZ company opened its business on 01/01/20x1. During 20x1, it had revenue of $250,000, expenses of $150,000, and no dividends. During 20x2, it had
. XYZ company opened its business on 01/01/20x1. During 20x1, it had revenue of $250,000, expenses of $150,000, and no dividends. During 20x2, it had revenue of $500,000, expenses of $200,000, and dividends of $50,000. What was the amount of retained earnings at the end of the year 20x2?
A. 100,000
B. 250,000
C. 450,000
D. None of the above
Your answer (A, B, C, or D) |
|
Show your calculation in detail.
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started