Problme based on retained earnings balance at the end, Accounting Basics

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Problme based on retained earnings balance at the end

Wheeler Corporation had retained earnings as of 12/31/08 of $12 million. During 2009, Wheeler's net income was $4 million. The retained earnings balance at the end of 2009 was equal to $13 million. Therefore, ________.

a. Wheeler paid a dividend in 2008 of $3 million

b. Wheeler paid a dividend in 2008 of $5 million

c. Wheeler sold common stock during 2008 for $3 million

d. Wheeler purchased treasury stock in 2008 for $3 million

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Accounting Basics: Problme based on retained earnings balance at the end

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Accounting Basics: Problme based on retained earnings balance at the end

Reference No:- TGS090918

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Problme based on retained earnings balance at the end

Reference No:- TGS090918

Recent Questions Asked Accounting Basics

Q : Create a book class that stores book information

Q : The secretion of acth from the anterior pituitary gland

Q : Would this transaction increase or decrease current ratio

Q : Find percentage change in productivity from april to may

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