The total revenues of $7,000, total expenses of $3,700 and dividends of $900 were recorded in the closing entries. The net change in Retained Earnings for the month was:
A)$6,100.
B)$3,300.
C)$2,400.
D)$4,200.

Question

Quizplus · Accepted Answer

The net change in Retained Earnings is calculated by subtracting total expenses and dividends from total revenues: $7,000 - $3,700 - $900 = $2,400.

The Total Revenues of $7,000, Total Expenses of $3,700 and Dividends