Based on the following information,what would be the balance in the Retained Earnings Account,assuming all accounts have a normal balance?
A)$0
B)$13,718
C)$13,155
D)$13,284
E)$2,563

Question

Based on the following information,what would be the balance in the Retained Earnings Account,assuming all accounts have a normal balance? 
A)$0 
B)$13,718 
C)$13,155 
D)$13,284 
E)$2,563

Quizplus · Accepted Answer

Retained Earnings at the beginning of the period = $12,750
Net income for the period = $1,194
Dividends paid during the period = $660
Retained Earnings at the end of the period = $12,750 + $1,194 - $660 = $13,284. Therefore, the answer is D.

Based on the Following Information,what Would Be the Balance in the Retained