Determine the Retained Earnings balance on December 31, 2015 based on the following: 2014 Revenues: $1,500,000 2016 Revenues: $1,800,000 Retained Earnings Balance (December 31, 2014): $380,000 2015 Expenses: $1,200,000 Total Liabilities: $285,000 Total Current Asset: $900,000 Dividend rate: 20% of net income. A : $620,000 B : $1,280,000 C : $500,000 D : $860,000
Determine the Retained Earnings balance on December 31, 2015 based on the following: 2014 Revenues: $1,500,000 2016 Revenues: $1,800,000 Retained Earnings Balance (December 31, 2014): $380,000 2015 Expenses: $1,200,000 Total Liabilities: $285,000 Total Current Asset: $900,000 Dividend rate: 20% of net income. A : $620,000 B : $1,280,000 C : $500,000 D : $860,000
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.1E
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Question
Determine the
2014 Revenues: $1,500,000
2016 Revenues: $1,800,000
Retained Earnings Balance (December 31, 2014): $380,000
2015 Expenses: $1,200,000
Total Liabilities: $285,000
Total Current Asset: $900,000
-
A : $620,000
-
B : $1,280,000
-
C : $500,000
-
D : $860,000
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