The changes in account balances for Elder Company for 2013 are as follows: Assuming the only changes in retained earnings in 2013 were for net income and a $50,000 dividend, what was net income for 2013?
A)$40,000.
B)$60,000.
C)$70,000.
D)$90,000.

Question

The changes in account balances for Elder Company for 2013 are as follows:  Assuming the only changes in retained earnings in 2013 were for net income and a $50,000 dividend, what was net income for 2013?
A)$40,000. 
B)$60,000. 
C)$70,000. 
D)$90,000.

Quizplus · Accepted Answer

The Answer of The changes in account balances for Elder Company for 2013 are as follows:  Assuming the only changes in retained earnings in 2013 were for net income and a $50,000 dividend, what was net income for 2013?
A)$40,000. 
B)$60,000. 
C)$70,000. 
D)$90,000.

The Changes in Account Balances for Elder Company for 2013