For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $179,225 and $199,900, respectively. Also during Year 2, the board of directors declared cash dividends of $19,900, which were paid during Year 2. The board also declared a stock dividend, which was issued and required a transfer in the amount of $15,500 to paid-in capital. Total expenses during Year 2 were $36,916. Based on this information, what was the amount of total revenue for Year 2? Multiple Choice $143,084 $92,991 $77,491 $159,325
For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $179,225 and $199,900, respectively. Also during Year 2, the board of directors declared cash dividends of $19,900, which were paid during Year 2. The board also declared a stock dividend, which was issued and required a transfer in the amount of $15,500 to paid-in capital. Total expenses during Year 2 were $36,916. Based on this information, what was the amount of total revenue for Year 2? Multiple Choice $143,084 $92,991 $77,491 $159,325
Chapter19: Corporations: Distributions Not In Complete Liquidation
Section: Chapter Questions
Problem 1BCRQ
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Transcribed Image Text:For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $179,225 and $199,900, respectively. Also during Year 2, the board of directors declared cash dividends
of $19,900, which were paid during Year 2. The board also declared a stock dividend, which was issued and required a transfer in the amount of $15,500 to paid-in capital. Total expenses during Year 2
were $36,916. Based on this information, what was the amount of total revenue for Year 2?
Multiple Choice
$143,084
$92,991
$77,491
$159,325
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