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A company has a net income of $120,000 and dividends of $30,000. What is the ret
A company has a net income of $120,000 and dividends of $30,000. What is the retained earnings at the end of the year?
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Practice Questions
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Q1
A company has a net income of $120,000 and dividends of $30,000. What is the retained earnings at the end of the year?
$90,000
$120,000
$150,000
$180,000
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Retained Earnings = Net Income - Dividends = $120,000 - $30,000 = $90,000.
Questions & Step-by-step Solutions
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Q
Q: A company has a net income of $120,000 and dividends of $30,000. What is the retained earnings at the end of the year?
Solution:
Retained Earnings = Net Income - Dividends = $120,000 - $30,000 = $90,000.
Steps: 6
Show Steps
Step 1: Identify the net income of the company, which is $120,000.
Step 2: Identify the total dividends paid by the company, which is $30,000.
Step 3: Use the formula for retained earnings: Retained Earnings = Net Income - Dividends.
Step 4: Substitute the values into the formula: Retained Earnings = $120,000 - $30,000.
Step 5: Calculate the result: $120,000 - $30,000 = $90,000.
Step 6: The retained earnings at the end of the year is $90,000.
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