Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sheffield corp. began the year with retained earni

Sheffield Corp. began the year with retained earnings of $393000. During the year, the company...

70.2K

Verified Solution

Question

Accounting

Sheffield Corp. began the year with retained earnings of $393000. During the year, the company recorded revenues of $485000, expenses of $377000, and paid dividends of $38500. What was Sheffield's retained earnings balance at the end of the year?

$823500

$485000

$523500

$462500

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students

Chemistry
1.2K views

A 350.0 −mL buffer solution is 0.170 M in HFand 0.170 M in NaF. A) What mass...

Medical Sciences
1.2K views

Describe & explain & discuss experiments / observations in humans and monkeys that demonstrate the role...

Medical Sciences
1.2K views

Describe the mechanisms by which the body monitors and reacts to increased carbon dioxide production (for...

Finance
1.2K views

company - H&R Block You must use the annual report, from the company's own website, or from...

Biology
1.2K views

20 The illustration below shows various stages of mitosis in a fast growing onion root...

Statistics
1.2K views

Experiment A deck contains 14 cards numbered 1 through 14 A card is randomly selected...

Calculus
1.2K views

Evaluate the integral 5te4 i 8e 5t j 6 k dt 1 0 5te4 i...

Accounting
1.2K views

Gansac Publishing Company firm un contrato con un autor para publicar su libro. La firma...

Accounting
1.2K views

41. Total Sales is $80,000 in a month. 30% of this is on Credit. 60%...

Accounting
1.2K views

The October 1, 2020, records of First Data Communications include these accounts: Accounts Receivable $...

Accounting
1.2K views

use the follwoing information to create journal entries and general ledger T-accounts. Include closing entries...

Accounting
1.2K views

Magic Realm, Incorporoted, developed a new fantasy board game and sold 18,800 units last year...