At the end of 2013, retained earnings for the Bisk Company was $1,750. Revenue earned by the company in 2013 was $2,000, expenses paid during the period were $1,100, and dividends paid during the period were $500. Based on this information alone, retained earnings at the beginning of 2013 was
A)$850.
B)$2,150.
C)$1,350.
D)$4,000.

Question

Quizplus · Accepted Answer

Beginning Retained Earnings + Revenue - Expenses - Dividends = Ending Retained Earnings
Beginning Retained Earnings + $2,000 - $1,100 - $500 = $1,750
Beginning Retained Earnings = $1,350

At the End of 2013, Retained Earnings for the Bisk