Multiple Choice
At the end of 20C, Libby Company reported an ending balance for retained earnings of $50,000. During 20D, the company reported the following amounts: Dividends declared and paid, $30,000 and profit, $40,000. The 20D statement of Retained Earnings should report an ending balance for retained earnings of which of the following?
A) $90,000.
B) $60,000.
C) $100,000.
D) $80,000.
Correct Answer:
Verified
Correct Answer:
Verified
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