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The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended


The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: 

 Retained earnings balance at the beginning of the year  $ 133,000 
Cash dividends declared for the year53,000
Proceeds from the sale of equipment88,000
Gain on the sale of equipment8,400
Cash dividends payable at the beginning of the year25,000
Cash dividends payable at the end of the year28,400
Net income for the year99,000


What is the ending balance for retained earnings? 

Multiple Choice 

  • $262,000 

  • $179,000 

  • $209,000 

  • $290,000

business   accounting   
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Answer #1

Ending balance for retained earnings

= Beginning retained earnings + Net income - Dividends paid

= 133,000 + 99,000 - 53,000

= 179,000
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