Question 6 2 pts C. Daniel Company began the year 2025 with retained earnings of $670,000....

Question

Question

Answer 1

Answer #1

Beginning inventory = $670,000

Revenues = $600,000

Expenses = $380,000

Dividends = $140,000

Net income = Revenue - expenses

= 600,000 - 380,000

= $220,000


Statement of Retained Earnings
Beginning retained earnings		670,000
Add: Net profit	220,000
Less:Dividends	-140,000
		80,000
Retained earnings, Ending		$750,000

Retained earnings, Ending = $750,000

Correct option is first

Answer 2

Similar Homework Help Questions

Question 6 2 pt Henderson Company began the year with retained earnings of $100,000. During 2025,...

Question 6 2 pt Henderson Company began the year with retained earnings of $100,000. During 2025, the company issued $80,000 of common stock for cash. The company recorded revenues of $740,000, expenses of $640,000, and paid dividends of $40,000. What was Finney's net income for the year 2025? $60,000 $140,000 $180,000 $100,000
Question 4 2 pts Stetson Company began the year with retained earnings of $380,000. During the...

Question 4 2 pts Stetson Company began the year with retained earnings of $380,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000. What was Stetson's retained earnings balance at the end of the year? $460,000 $500,000 $540,000 $840,000
Henson Company began the year with retained earnings of $350,000. During the year, the company recorded...

Henson Company began the year with retained earnings of $350,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $905. What was Henson's retained earnings at the end of the year?

Henson Company began the year with retained earnings of $380,000. During the year, the company issued...

Henson Company began the year with retained earnings of $380,000. During the year, the company issued stock for $800,000, purchased a building for $650,000, recorded revenues of $500,000, disclosed expenses of $380,000, and paid dividends of $40,000. What was Henson’s retained earnings at the end of the year? a. $540,000 b. $460,000 c. $840,000 d. $500,000 Please explain
Nashs Trading Post C began the year with retained earnings of $380000. During the year, the...

Nashs Trading Post C began the year with retained earnings of $380000. During the year, the company recorded revenues of $480000 openses of $375000, and paid dividends of $35000 What was retired earnings at the end of the year? 5480000 $450000
Multiple Choice Question 119 Marigold Corp. began the year with retained earnings of $407000. During the...

Multiple Choice Question 119 Marigold Corp. began the year with retained earnings of $407000. During the year, the company recorded revenues of $502000, expenses of $382000, and paid dividends of $39500. What was Marigold's retained earnings balance at the end of the year? $487500 $841500 $502000 $541500

Question 9 2 pts Evans Company compiled the following financial information as of December 31, 2025....

Question 9 2 pts Evans Company compiled the following financial information as of December 31, 2025. $840,000 180,000 240,000 750,000 210,000 Service revenue Common Stock Equipment Operating expenses Cash Dividends Supplies Accounts payable Accounts receivable Retained earnings, Jan 1, 2024 Evans' retained earnings on December 31, 2025 are 60,000 30,000 120,000 90,000 450,000 $480,000 $1.410,000 $570,000 $1,020,000 « Previous Next →
Question 7 View Policies Current Attempt in Progress Metlock, Inc. began the year with retained earnings...

Question 7 View Policies Current Attempt in Progress Metlock, Inc. began the year with retained earnings of $402000. During the year, the company recorded revenues of $487000, expenses of $384000, and paid dividends of $38500. What was Metlock retained earnings at the end of the year? $525500 $825500 $487000 $466500
Vaughn Manufacturing began the year with retained earnings of $939000. During the year, the company issued...

Vaughn Manufacturing began the year with retained earnings of $939000. During the year, the company issued $1308000 of common stock, recorded expenses of $3645000, and paid dividends of $242000. If Vaughn ending retained earnings was $999000, what was the company’s revenue for the year?

Attempt in Progress Windsor, Inc. began the year with retained earnings of $305000. During the year,...

Attempt in Progress Windsor, Inc. began the year with retained earnings of $305000. During the year, the company issued $402000 of common stock, recorded expenses of $1288000, and paid dividends of $83200. If Windsor's ending retained earnings was $325000, what was the company's revenue for the year? O $1710000 O $1391200 O $1308000 O $1793200 Using the following balance sheet and income statement data, what is the earnings per share? Current assets Current liabilities Average assets Total assets $22600 12000...