Multiple Choice
The Net Income of Maywood Inc.for the year is $25,000.The dividends declared during the year were $30,000.Which of the following statements is true?
A) Retained Earnings account decreases by $25,000.
B) Retained Earnings account decreases by $5,000.
C) Retained Earnings account increases by $30,000.
D) Retained Earnings will remain the same.
Correct Answer:
Verified
Correct Answer:
Verified
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