A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser...
70.2K
Verified Solution
Link Copied!
Question
Accounting
A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $100,000. During the year, Sales Revenue amounted to $80,000, Cost of Goods Sold was $45,000, and all other expenses totaled $12,000. The company declared and paid $25,000 as dividends. The ending balance of Retained Earnings would be ________.
A. $123,000
B.$98,000
C.$148,000
D.$100,000
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.