After closing the accounts,Retained Earnings at December 31 equals:
A)$11,000.
B)$7,250.
C)Zero.
D)$22,250.

Name: After closing the accounts,Retained Earnings at December 31 equals: A)$11,000. B)$7,250. C)Zero. D)$22,250.
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Question

Quizplus · Accepted Answer

Retained Earnings at December 31 is calculated by adding net income to the beginning retained earnings and subtracting any dividends. The problem likely provides information that leads to $7,250 as the correct balance after these adjustments.

After Closing the Accounts,Retained Earnings at December 31 Equals