The following information was extracted from the accounts of Boone Corporation at December 31, 2008:

What should be the balance of retained earnings at December 31, 2008?
A) $655,000
B) $700,000
C) $580,000
D) $775,000

Name: The following information was extracted from the accounts of Boone Corporation at December 31, 2008: What should be the balance of retained earnings at December 31, 2008? A) $655,000 B) $700,000 C) $580,000 D) $775,000
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Question

The following information was extracted from the accounts of Boone Corporation at December 31, 2008:

What should be the balance of retained earnings at December 31, 2008?
A) $655,000 
B) $700,000 
C) $580,000 
D) $775,000

Quizplus · Accepted Answer

$1,700,000 - $800,000 - $200,000 + $75,000 = $775,000

The Following Information Was Extracted from the Accounts of Boone