The company reported the following information for the year ended December 31, 2019:

-Refer to Beard Marine. What was the balance of Retained Earnings at January 1, 2019?
A)$ 21,000
B)$ 26,000
C)$106,000
D)$214,000

Question

The company reported the following information for the year ended December 31, 2019:
 
-Refer to Beard Marine. What was the balance of Retained Earnings at January 1, 2019?
A)$ 21,000 
B)$ 26,000 
C)$106,000 
D)$214,000

Quizplus · Accepted Answer

The balance of Retained Earnings at January 1, 2019 can be found in the statement of retained earnings, where it states that the balance at the beginning of the year was $26,000.

The Company Reported the Following Information for the Year Ended