J & D Company had beginning retained earnings of $65,000.During the year the company had net income of $150,000,and declared and paid dividends of $9,500.The ending balance in retained earnings is ________.

Question

Quizplus · Accepted Answer

Beginning retained earnings = $65,000
Net Income = $150,000
Dividends = $9,500

Ending retained earnings = Beginning retained earnings + Net Income - Dividends
= $65,000 + $150,000 - $9,500
= $205,500

Therefore, the correct answer is C) $205,500.

J & D Company Had Beginning Retained Earnings of $65,000