Bean Products Company reported total retained earnings at December 31, Year 2 of $113,500. It provided...
Bean Products Company reported total retained earnings at December 31, Year 2 of $113,500. It provided the following information for Year 1 and Year 2:
|
Year 2 |
Year 1 |
|
|
Retained earnings (beginning) |
$132,500 |
$62,500 |
|
Revenues |
446,000 |
435,000 |
|
Expenses |
370,000 |
312,500 |
|
Dividends |
? |
52,500 |
How much dividends did the company pay in Year 2?
Select one:
A. $ 95,000
B. $145,000
C. $ 76,000
D. $135,000
Homework Answers
Answer: A) $ 95,000
Net income in Year 2 = Revenue -Expenses = 446,00-370,000= 76,000
Devidend Paid in YEar 2 =Retained Earnings (Beginning) + Net income - retianed Earnis closing
= 132,500+76,000-113,500 = 95,000 (Answer)
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