During January 2022, its first month of operation, Osborn Enterprises earned net income of $6,800 and paid dividends to the owners of $2,000.At January 31, the balance in Retained Earnings will be
A)$0.
B)$6,800 credit.
C)$4,800 credit.
D)$2,000 debit.

Question

Quizplus · Accepted Answer

Retained Earnings at January 31 will be the net income ($6,800) minus the dividends paid ($2,000), resulting in a $4,800 credit balance.

During January 2022, Its First Month of Operation, Osborn Enterprises