If beginning retained earnings was $184,300,net income for the period was $200,000,and ending retained earnings was $322,000,what was the total amount of dividends distributed for the period?
A)$62,300
B)$306,300
C)$337,700
D)$706,300
E)$137,700

Question

Quizplus · Accepted Answer

The formula for ending retained earnings is: Beginning Retained Earnings + Net Income - Dividends = Ending Retained Earnings. Plugging in the numbers: $184,300 + $200,000 - Dividends = $322,000. Solving for Dividends gives $62,300.

If Beginning Retained Earnings Was $184,300,net Income for the Period