A company had the following information: $$\begin{array} { l r l r }
\text { Beginning retained earnings }& \$ 45,000 & \text { Sales } & \$ 194,000 \
\text { Depreciation expense } & 7,000 & \text { Cash } & 11,000 \
\text { Cost of goods sold } & 102,000 & \text { Dividends } & 15,000 \
\text { Paid-in capital } & 26,000 & \text { Wage expense } & 40,000 \
\text { Rent expense } & 12,000 & \text { Prepaid rent } & 2,000
\end{array}$$ The ending balance in the Retained Earnings account is_____.
A)$61,000
B)$63,000
C)$65,000
D)$74,000

Question

A company had the following information: $$\begin{array} { l r l r } 
\text { Beginning retained earnings }& \$ 45,000 & \text { Sales } & \$ 194,000 \
\text { Depreciation expense } & 7,000 & \text { Cash } & 11,000 \
\text { Cost of goods sold } & 102,000 & \text { Dividends } & 15,000 \
\text { Paid-in capital } & 26,000 & \text { Wage expense } & 40,000 \
\text { Rent expense } & 12,000 & \text { Prepaid rent } & 2,000
\end{array}$$ The ending balance in the Retained Earnings account is_____.
A)$61,000
B)$63,000
C)$65,000
D)$74,000

Quizplus · Accepted Answer

The Answer of A company had the following information: $$\begin{array} { l r l r } 
\text { Beginning retained earnings }& \$ 45,000 & \text { Sales } & \$ 194,000 \
\text { Depreciation expense } & 7,000 & \text { Cash } & 11,000 \
\text { Cost of goods sold } & 102,000 & \text { Dividends } & 15,000 \
\text { Paid-in capital } & 26,000 & \text { Wage expense } & 40,000 \
\text { Rent expense } & 12,000 & \text { Prepaid rent } & 2,000
\end{array}$$ The ending balance in the Retained Earnings account is_____.
A)$61,000
B)$63,000
C)$65,000
D)$74,000

A Company Had the Following Information The Ending Balance in the Retained Earnings Account Is_____