DW has an ending Retained Earnings balance of $51,100.If during the year DW paid dividends of $4,300 and had net income of $22,500,then what was the beginning Retained Earnings balance?
A)$24,300.
B)$32,900.
C)$300.
D)$69,300.

Question

Quizplus · Accepted Answer

Beginning Retained Earnings + Net Income - Dividends = Ending Retained Earnings
Let's plug in the values we know:
Retained Earnings (beginning) + $22,500 - $4,300 = $51,100
Retained Earnings (beginning) = $32,900

DW Has an Ending Retained Earnings Balance of $51,100