Questions: Assume that beginning retained earnings is 100. Revenues for the year total 75 while expenses total 50. The company paid out dividends during the year totaling 10. What is ending retained earnings? OA. 115 OB. 15 OC. 90 OD. 25

Assume that beginning retained earnings is 100. Revenues for the year total 75 while expenses total 50. The company paid out dividends during the year totaling 10. What is ending retained earnings? OA. 115 OB. 15 OC. 90 OD. 25
Transcript text: Assume that beginning retained earnings is $\$ 100$. Revenues for the year total $\$ 75$ while expenses total $\$ 50$. The company paid out dividends during the year totaling $\$ 10$. What is ending retained earnings? OA. $\$ 115$ OB. $\$ 15$ OC. $\$ 90$ OD. $\$ 25$
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Solution

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Solution Steps

Step 1: Calculate Net Income

Net income is calculated as Revenues minus Expenses. In this case, Net Income = $75 - $50 = $25.

Step 2: Calculate Ending Retained Earnings

Ending Retained Earnings is calculated as Beginning Retained Earnings + Net Income - Dividends. In this case, Ending Retained Earnings = $100 + $25 - $10 = $115.

Final Answer:

\\(\boxed{\$115}\\)

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