Multiple Choice
Use the following information for questions
Nelson Company experienced the following transactions during 2016,its first year in operation.
1.Issued $12,000 of common stock to stockholders.
2.Provided $4,600 of services on account.
3.Paid $3,200 cash for operating expenses.
4.Collected $3,800 of cash from accounts receivable.
5.Paid a $200 cash dividend to stockholders.
-The amount of retained earnings appearing on Nelson Company's December 31,2016 balance sheet is:
A) $1,200.
B) $1,000.
C) $1,400.
D) $13,200.
Correct Answer:
Verified
Correct Answer:
Verified
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