Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

QUESTION

The Hastco Company had the following balances in their stockholders' equity accounts as of December 31, 2010: Paid-in Capital: $53,000 Retained...

The Hastco Company had the following balances in their stockholders' equity accounts as of December 31, 2010:

Paid-in Capital: $53,000

Retained Earnings: $31,000

During the year ended December 31, 2010, 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, 2009 was:

a) $11,000

b) $37,000

c) $5,000

d) $61,000

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question