MINAL EXAM PART 1 \\G2Prior period coerto mheducation com/hm tpr × connect. ACCT
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MINAL EXAM PART 1 G2Prior period coerto mheducation com/hm tpr × connect. ACCT 2301: Fall 2017 ACCT 2301 ONLINE Hugo Rivas CCOUNTING FINAL EXAM PART Instructions help Question 4 fof 20 Save &Ext; Submit Time remaining 0:5643 4. Universal Corp, has beginning Retained Earminge of $80.000 cesh flows the current yeer of $50000, and Common Stock et the end of the yeer of $15.000 Whet s t from operating activities during the current year of $35,000, dividends paid during the yer of ss,00o net income for et the end of the year of $15.000. What is the amount of as Retained Earnings at the end of the year? O $160000 O $175.000 O $125.000 O s140000 Type here to search 2/12/2017Explanation / Answer
Beginning Retained Earnings = $80,000
Net income for the current year = $50,000
Dividends paid = $5,000
Retained Earnings at the end of the year = Beginning Retained Earnings + Net income - Dividends paid = 80,000+50,000-5,000 = $125,000
Answer is $125,000
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