Multiple Choice
The retained profits balance of Go Company was $50 000 on the first day of the year.Profit during the year was $20 000.Near year-end a $10 000 dividend was declared that is to be paid in the following year.Year-end retained profits are:
A) $70 000
B) $60 000
C) $50 000
D) $40 000
Correct Answer:
Verified
Correct Answer:
Verified
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