If mookie had retained earnings of $88,000 at the end of year 5, what was the company's retained earnings at the beginning of year 1?

a.$13,000.
b. $25,000.
c. $7,000.
d. $1,000

Answers

answer; i believe the correct answer is (a) purchase of treasury stock;

answer; (consensus);

A. $13000

During its first five years of operation, Mookie Consulting Services reported the following annual net income and dividend amounts:

Year Net Income Dividends

1 $22,000 $2,000

2 17,000 2,000

3 9,000 1,000

4 14,000 3,000

5 25,000 4,000

If Mookie had Retained Earnings of $88,000 at the end of year 5, what was the company's Retained Earnings at the beginning of

Year 1?

a. $13,000 d. $41,000

b. $23,000 e. some other amount

c. $37,000

Explanation: the difference between total dividends (75,000$) and total net Income (88000$) gives the Retained Earnings = $13000



Do you know the answer?

Other questions on the subject: Business

Business, 22.06.2019, rafa3997
a. April ;         =  101700  May  ;  11300 + 119700 =   131000 June ;  13300 + 130500 =  143800 b. Account Payable which Vivian will report in pro forma balance sheet at the end o...Read More
2 more answers
-3 < xStep-by-step explanation:We solve inequalities just as we solve equations --- variables to one side and numbers to another and solve. Thus one note:Whenever we multiply/di...Read More
3 more answers
Business, 22.06.2019, UratazZ
being born in poverty would limit the people's chances, opportunities and benefits.this happen because of several things, such as: - poor people tend to gain less access to good ed...Read More
2 more answers
Business, 22.06.2019, babyduck0664
18Step-by-step explanation:Hello there. This problem can be easily solved by setting up a ratio.This would be as follows  x  after solving for x we find that 90% of 20 should be 18...Read More
3 more answers
Business, 22.06.2019, vistagallosky
b. is the amount a consumer is willing to pay minus the amount the consumer actually pays.Explanation:Consumer surplus = willingness to pay less price of the good.Let assume a stud...Read More
2 more answers
Business, 22.06.2019, thicklooney
Increasing government spending and decreasing taxes.Explanation:Given that,consumption = $400 billionInvestment = $40 billionGovernment purchases = $90 billionNet export = $25 bill...Read More
3 more answers