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H3Ko H3Ko
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7 years ago
The net income of Harriet, Inc. for the year is $35,000. The dividends declared during the year were $43,000. Which of the following statements is true?
A) Retained Earnings will remain the same.
B) Retained Earnings account increases by $43,000.
C) Retained Earnings account decreases by $35,000.
D) Retained Earnings account decreases by $8,000.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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TanksTanks
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7 years ago
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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#3
5 years ago
Thank you!
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