From the following information, determine the beginning balance in the Retained Earnings account. $\begin{array}{ll}
\text { Dividends } & \$ 8,000 \
\text { Ending Retained Earnings } & 24,000 \
\text { Net Income } & 14,000 \
\text { Paid- in Capital, beginning } & 29,000 \
\text { Paid-in Canital ending } & 26,000
\end{array}$
A) $ \$ 18,000 $
B) $ \$ 46,000 $
C) $ \$ 2,000 $
D) None of these answersis correct.

Question

From the following information, determine the beginning balance in the Retained Earnings account. $\begin{array}{ll}
\text { Dividends } & \$ 8,000 \
\text { Ending Retained Earnings } & 24,000 \
\text { Net Income } & 14,000 \
\text { Paid- in Capital, beginning } & 29,000 \
\text { Paid-in Canital ending } & 26,000
\end{array}$ 
A) $ \$ 18,000 $
B) $ \$ 46,000 $
C) $ \$ 2,000 $
D) None of these answersis correct.

Quizplus · Accepted Answer

The beginning balance in Retained Earnings can be calculated using the formula: Beginning Retained Earnings = Ending Retained Earnings + Dividends - Net Income. Substituting the given values: $24,000 + 8,000 - 14,000 = 18,000$.

From the Following Information, Determine the Beginning Balance in the Retained