Orlando Enterprises has a beginning retained earnings balance of $55,000. Net income for the year is $14,000, and cash dividends paid during the year amount to $8,500. What will be the ending retained earnings balance? a. $55,000 b. $60,500 c. $68,500 d. $52,500

Orlando Enterprises has a beginning retained earnings balance of $55,000. Net income for the year is $14,000, and cash dividends paid during the year amount to $8,500. What will be the ending retained earnings balance? a. $55,000 b. $60,500 c. $68,500 d. $52,500

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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What will be the ending retained earning balance?

Orlando Enterprises has a beginning retained
earnings balance of $55,000. Net income for
the year is $14,000, and cash dividends paid
during the year amount to $8,500. What will
be the ending retained earnings balance?
a. $55,000
b. $60,500
c. $68,500
d. $52,500

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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