Charger,inc. Provided the following information please solve this question general Accounting Charger, Inc. provided the following information:Beginning of the Year End of the YearAssets560,000Retained Earnings 100,000Common Stock50,000630,000110,00050,000If Net Income for the year was $150,000, how much did the company pay individends?a. $150,000b. $10,000c. $140,000d. $0

Step 1: Define DividendsDividends are paid to the shareholders of the corporation as a return on…

Answered: Charger, Inc. provided the following…

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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Charger, Inc. provided the following information: Beginning of the Year End of the Year Assets 560,000 Retained Earnings 100,000 Common Stock 50,000 630,000 110,000 50,000 If Net Income for the year was $150,000, how much did the company pay in dividends? a. $150,000 b. $10,000 c. $140,000 d. $0