Question

For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $173,967 and...

For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $173,967 and $211,900, respectively. Also during Year 2, the board of directors declared cash dividends of $25,500, which were paid during Year 2. The board also declared a stock dividend, which was issued and required a transfer in the amount of $15,500 to paid-in capital. Total expenses during Year 2 were $40,916. Based on this information, what was the amount of total revenue for Year 2?

Group of answer choices

$119,849

$148,467

$145,484

$104,349

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Homework Answers

Answer #1

Beginning retained earnings = $173,967

Ending retained earnings = $211,900

Cost dividends = $25,500

Stock dividend = $15,500

Total expenses = $40,916

Total revenue = ?

Ending retained earnings = Beginning retained earnings + Total revenue - Cost dividends -Stock dividend- Total expenses

211,900 = 173,967+Total revenue-25,500-15,500-40,916

Total revenue = $119,849

The amount of total revenue for Year 2 = $119,849

First option is correct.

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