Below are several accounts from Nortec Company's accounting records.

The amount of retained earnings at the end of the year is
A) $34,000.
B) $40,000.
C) $52,000.
D) $64,000.

Name: Below are several accounts from Nortec Company's accounting records. The amount of retained earnings at the end of the year is A) $34,000. B) $40,000. C) $52,000. D) $64,000.
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Question

Below are several accounts from Nortec Company's accounting records.

The amount of retained earnings at the end of the year is
A) $34,000. 
B) $40,000. 
C) $52,000. 
D) $64,000.

Quizplus · Accepted Answer

$18,000 + 65,000 F1F1F1S1-F1F1F10 $31,000 = $52,000
or $100,000 F1F1F1S1-F1F1F10 $36,000 F1F1F1S1-F1F1F10 $12,000 = $52,000

Below Are Several Accounts from Nortec Company's Accounting Records