Sharidan Company began the year with retained earnings of $659000. During the year, the company recorded revenues of $600000, expenses of $380000, and paid dividends of $141500. What was Sheridan retained earnings at the end of the year?

a - $1131500

b - $600000

c - $1017500

d - $ 737500

Question

Business

Lorenzo Wood

7 December, 05:49

Sharidan Company began the year with retained earnings of $659000. During the year, the company recorded revenues of $600000, expenses of $380000, and paid dividends of $141500. What was Sheridan retained earnings at the end of the year?

a - $1131500

b - $600000

c - $1017500

d - $ 737500

+2

Answers (1)

Know the Answer?

Stanley Weeks · Answer 1

d - $737,500

Explanation:

Retained Earnings = Beginning Period Retained Earnings + Profit - Cash Dividends

Profit = Revenues - Expenses = $600,000 - $380,000 = $220,000

Retained Earnings = Beginning Period Retained Earnings + Profit - Cash Dividends

Retained Earnings = $695,000 + $220,000 - $141500

Retained Earnings = $773,500

Sharidan Company began the year with retained earnings of $659000. During the year, the company recorded revenues of $600000, expenses of $380000, and paid dividends of $141500. What was Sheridan retained earnings at the end of the year?a - $1131500b - $600000c - $1017500d - $ 737500

Sharidan Company began the year with retained earnings of $659000. During the year, the company recorded revenues of $600000, expenses of $380000, and paid dividends of $141500. What was Sheridan retained earnings at the end of the year?

a - $1131500

b - $600000

c - $1017500

d - $ 737500