During the year ended december 31 2000 the hastco company, Ask an Expert

Accounting

The Hastco Company had the following balances in their stockholders' equity accounts as of December 31, 2000:

Paid-in Capital: $53,000
Retained Earnings: $31,000

During the year ended December 31, 2000, The Hastco Company generated $36,000 in net income, and declared and paid $16,000 in Dividends. The ending balance in the retained earnings account at December 31, 1999 was:

a) $11,000

b) $37,000

c) $5,000

d) $61,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M941202

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