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Category > Accounting Posted 29 Jul 2017 My Price 9.00

Robinson Company

The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

  

  Retained earnings balance at the beginning of the year $ 166,000
  Cash dividends declared for the year 56,000
  Proceeds from the sale of equipment 91,000
  Gain on the sale of equipment 9,000
  Cash dividends payable at the beginning of the year 28,000
  Cash dividends payable at the end of the year 52,000
  Net income for the year 102,000


  

What is the ending balance for retained earnings?
  $296,000.
  $194,000.
  $268,000.
  $272,000.
  $212,000.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 10:07 AM My Price 9.00

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