Question: Practice HW Ending Week 3 General: a large paper company, mentioned the below following question and choices for you. Use your accounting knowledge to pick
Practice HW Ending Week 3 General: a large paper company, mentioned the below following question and choices for you. Use your accounting knowledge to pick the best result as part of this hypothetical interview process. There will only be one correct answer. Choose the best one and report back to your team. A Company reports total assets and total liabilities of $850,000 and $400,000, respectively, at the conclusion of its first year of business. The company eamed $190,000 during the first year and distributed $60,000 in dividends. What was Gretchen's contributed capital? A. $130,000. B. $260,000 C. $320,000. D. $380,000. E. $450,000
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