Accounting Flow Intuition: BASE Formula Video Lessons

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Problem: If the beginning and ending balances in retained earnings are $10,000 and $18,000, respectively, and dividends during the year are $20,000, then net income for the year is a. $8,000 b. $30,000 c. $28,000 d. $38,000 e. Indeterminable from the data given

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Problem Details

If the beginning and ending balances in retained earnings are $10,000 and $18,000, respectively, and dividends during the year are $20,000, then net income for the year is

a. $8,000

b. $30,000

c. $28,000

d. $38,000

e. Indeterminable from the data given

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What scientific concept do you need to know in order to solve this problem?

Our tutors have indicated that to solve this problem you will need to apply the Accounting Flow Intuition: BASE Formula concept. You can view video lessons to learn Accounting Flow Intuition: BASE Formula. Or if you need more Accounting Flow Intuition: BASE Formula practice, you can also practice Accounting Flow Intuition: BASE Formula practice problems.

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