For June,Team Shirts had a beginning balance in its Retained earnings account of $500.Net income for the month was $875.Team Shirts paid dividends of $200.The ending balance in Retained earnings was ________.
A)$675
B)$1,575
C)$1,175
D)$1,375

Question

Quizplus · Accepted Answer

The ending balance in Retained Earnings is calculated as the beginning balance plus net income minus dividends: $500 + $875 - $200 = $1,175.

For June,Team Shirts Had a Beginning Balance in Its Retained