Multiple Choice
For the current financial year a hotel had $350,000 in its retained earnings account at the beginning of the year. During the year it earned $80,000 in profit and paid $32,000 in dividends to its owners. The balance sheet at the end of the current financial year should reflect a retained earnings balance of:
A) $430,000.
B) $318,000.
C) $398,000.
D) $48,000.
E) $80,000.
Correct Answer:
Verified
Correct Answer:
Verified
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