Kahula Corporation was started in 2020. In 2020, it had a Net Loss of $10,000 and in 2021 it had a net income of $140,000. In 2021, it paid dividends of $25,000. Therefore, Kahula Corporation had _______ of ______ at the end of 2021. 1. Retained Earnings, $105 000 2. Shareholders' Equity, $105 000 3. None of the answers are correct 4. Retained Earnings, $130 000 5. Contributed Capital, $130 000
Kahula Corporation was started in 2020. In 2020, it had a Net Loss of $10,000 and in 2021 it had a net income of $140,000. In 2021, it paid dividends of $25,000. Therefore, Kahula Corporation had _______ of ______ at the end of 2021. 1. Retained Earnings, $105 000 2. Shareholders' Equity, $105 000 3. None of the answers are correct 4. Retained Earnings, $130 000 5. Contributed Capital, $130 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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(Multiple Choice)
Kahula Corporation was started in 2020. In 2020, it had a Net Loss of $10,000 and in 2021 it had a net income of $140,000. In 2021, it paid dividends of $25,000. Therefore, Kahula Corporation had _______ of ______ at the end of 2021.
1. Retained Earnings , $105 000
2. Shareholders' Equity, $105 000
3. None of the answers are correct
4. Retained Earnings, $130 000
5. Contributed Capital, $130 000
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