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In the Income Statement  for the year ended 31 December 2019, a company reported net income of $ 80,000. The opening balance for the Retained Earnings, 1 January 2019, was $400,000. If the company paid a dividend of $50,000, the balance for Retained Earning at the end of the year will be: Group of answer choices $430,000 $370,000 $530,000 $270,000

In the Income Statement  for the year ended 31 December 2019, a company reported net income of $ 80,000. The opening balance for the Retained Earnings, 1 January 2019, was $400,000. If the company paid a dividend of $50,000, the balance for Retained Earning at the end of the year will be: Group of answer choices $430,000 $370,000 $530,000 $270,000

FINANCIAL ACCOUNTING
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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In the Income Statement  for the year ended 31 December 2019, a company reported net income of $ 80,000. The opening balance for the Retained Earnings, 1 January 2019, was $400,000. If the company paid a dividend of $50,000, the balance for Retained Earning at the end of the year will be:

Group of answer choices
$430,000
$370,000
$530,000
$270,000
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