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Accounting help...?!?!?
The beginning balance of retained earnings was $2,500. The dividends paid to stockholders were $1,500. The ending balance of retained earnings is $5,000. What was the net income or net loss
for the period?
A. Net loss of $3,500
B. Net income of $4,000
C. Net loss of $4,500
D. Net income of $3,000
Which of the following would not be considered an external user of accounting data for the XYZ company?
A. Internal Revenue Service Agent
B. Management
C. Creditors
D. Customers
1 Answer
- JKRBLv 78 years agoFavorite Answer
1.
Beg. Balance + Net Income - Dividends = End. Balance
2,500 + Net Income - 1,500 = 5,000
Net Income = B. Net income of $4,000
2.
B. Management
Management would be an internal user.
Source(s): Accounting Fan