12. Stockholders' Equity

Retained Earnings

Multiple Choice
Company A started the year with \$50,000 in retained earnings. During the year, it earned a net income of \$20,000 and paid dividends of \$5,000. What is the amount of retained earnings (a component of equity) at the end of the year for Company A?
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Multiple Choice
What effect does revenue have on retained earnings?
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Multiple Choice
Which of the following best describes the owner's rights to the assets of a business after all liabilities have been paid?
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Multiple Choice
Which of the following best explains why it is important for a company to monitor its retained earnings over time?
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Multiple Choice
Ending retained earnings is calculated as:
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Multiple Choice
Which term refers to retained earnings that are subject to statutory and contractual restrictions?
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Multiple Choice
Retained earnings are a category of which of the following on the balance sheet?
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Multiple Choice
The way you want to spend your time, money, and resources in the future are your _____.
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Multiple Choice
On a balance sheet, retained earnings are not considered unspent cash because:
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Multiple Choice
Which of the following accounts is never closed at the end of an accounting period?
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Multiple Choice
When a company earns net income, its retained earnings:
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Multiple Choice
In a for-profit business, owners' equity is equivalent to:
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Multiple Choice
A company's past profits that are not paid out in dividends are known as:
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Multiple Choice
On January 1, 2018, XYZ Company had a balance of retained earnings of \$420,000. During 2018, the company earned net income of \$205,000 and also paid dividends. If the balance of retained earnings on December 31, 2018 was \$340,000, how much was paid in dividends?
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