Henson Company began the year with retained earnings of $330,000. During the year, the company issued $20,000 of additional common stock, recorded revenues of $500,000, recorded expenses of $380,000, and paid dividends of $40,000. What was Henson's retained earnings at the end of the year? $790,000 $410,000 $450,000 $430,000 $490,000

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Business

Ruby Sloan

23 June, 10:27

Henson Company began the year with retained earnings of $330,000. During the year, the company issued $20,000 of additional common stock, recorded revenues of $500,000, recorded expenses of $380,000, and paid dividends of $40,000. What was Henson's retained earnings at the end of the year? $790,000 $410,000 $450,000 $430,000 $490,000

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Felicity · Answer 1

What was Henson's retained earnings at the end of the year?

$430,000

Explanation:

Begining Retaining earning 330000

Income 120000

Dividens Paid - 40000

Additional common stock 20000

End retaining earning 430000

Revenue 500000

Expense 380000

Income 120000