Mariposa Corporation had a Retained Earnings balance on January 1, 20x4, of $936,000; declared cash dividends during 20x4 in the amount of $159,900, of which $39,000 were not paid until 20x5; and reported an ending balance of Retained Earnings of $1,326,000. Based on these facts alone, net income for 20x4 for Mariposa Corporation must have been
A) $211,900.
B) $419,900.
C) $510,900.
D) $549,900.
D
You might also like to view...
The accrual basis of accounting offers a direct explanation of why a firm's liquidity, as reported on the balance sheet, has improved or worsened
a. True b. False Indicate whether the statement is true or false
Which of the following types of retailers have been more successful in Europe than in the United States?
A) convenience stores B) supermarkets C) specialty stores D) warehouse clubs E) hypermarkets
The two main purposes of post-audit are to improve forecasts and to improve operations.
Answer the following statement true (T) or false (F)
Because the supply chain has become so electronic and automated, opportunities for unethical behavior have been greatly reduced
Indicate whether the statement is true or false