Multiple Choice
On January 1, 2014, Balises Corporation's Retained Earnings account has a balance of $300,000. During 2014, cash dividends of $20,000 were declared and stock dividends with a market value of $40,000 were declared. Net income for 2014 amounted to $90,000. On June 30, 2014, Balises Corporation issued 5,000 shares of common shares at $10 per share. What is the balance in Retained Earnings appearing on the statement of shareholders' equity on December 31, 2014?
A) $420,000
B) $380,000
C) $330,000
D) $440,000
Correct Answer:
Verified
Correct Answer:
Verified
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