Moody Instruments had retained earnings of $300,000 at December 31, 2017. Net income for 2018 totaled $200,000,
Question:
Moody Instruments had retained earnings of $300,000 at December 31, 2017. Net income for 2018 totaled $200,000, and dividends declared for 2018 were $55,000. How much retained earnings should Moody report at December 31, 2018?
a. $500,000
b. $445,000
c. $300,000
d. $355,000
Select the best choice from among the possible answers given.
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b 3000...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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