Multiple Choice
Hutchinson Company had retained earnings of $18,000 on the balance sheet but disclosed in the footnotes that $2,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments.Cash of $2,000 had been set aside for the plant expansion.How much of retained earnings is available for dividends?
A) $15,000.
B) $16,000.
C) $18,000.
D) $13,000.
Correct Answer:
Verified
Correct Answer:
Verified
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