Welcome to my post where I’ll be providing a comprehensive answer to the question ‘Quartz Instruments had Retained Earnings of $130,000 at December 31, 2020. Net income for 2021 was $80,000, and dividends for 2021 were $20,000. What amount of Retained Earnings should be reported at December 31, 2021?‘. Through this article, you’ll gain in-depth knowledge and understanding of the topic. So without any further delay, let’s dive into the details and explore the answer to your question.
Question ?
Quartz Instruments had Retained Earnings of $130,000 at December 31, 2020. Net income for 2021 was $80,000, and dividends for 2021 were $20,000. What amount of Retained Earnings should be reported at December 31, 2021?
Answer ✅
Quartz Instruments had Retained Earnings of $130,000 at December 31, 2020. Net income for 2021 was $80,000, and dividends for 2021 were $20,000. What amount of Retained Earnings should be reported at December 31, 2021?Multiple Choice
$150,000
$130,000
$210,000
$190,000
I hope you comprehend what I’ve said about Quartz Instruments had Retained Earnings of $130,000 at December 31, 2020. Net income for 2021 was $80,000, and dividends for 2021 were $20,000. What amount of Retained Earnings should be reported at December 31, 2021?. If you have any questions concerning this article, please leave a comment below.