Turquoise and topaz sisters had retained earnings of 15000, Ask an Expert

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Turquoise and Topaz Sisters had retained earnings of $15,000 on the balance sheet but disclosed in the footnotes that $2,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?

a. $12,000

b. $13,000

c. $15,000

d. $10,000

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Accounting Basics, Accounting

Category:- Accounting Basics
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