5. 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 Cash dividends declared for the year Proceeds from the sale of equipment Gain on the sale of equipment Net income for the year What is the ending balance for retained earnings? (A) $216,800 (B) $261,000 (C) $208,500 (D) $187,000 (E) $409,300 $ 162,500 52,500 87,500 8,300 98,500

5. 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 Cash dividends declared for the year Proceeds from the sale of equipment Gain on the sale of equipment Net income for the year What is the ending balance for retained earnings? (A) $216,800 (B) $261,000 (C) $208,500 (D) $187,000 (E) $409,300 $ 162,500 52,500 87,500 8,300 98,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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