Solved: The retained earnings account has a debit balance of 2400, Accounting Basics

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The retained earnings account has a debit balance of 2400

Question - The retained earnings account has a debit balance of $2,400 before closing entries are made. If total revenues for the year are $57,200, total expenses are $36,800, and dividends are $8,000, what is the ending balance in the retained earnings account after all closing entries have been made?

A. $23,200

B. $10,000

C. $14,200

D. $17,600

E. $ 9,800

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Accounting Basics: The retained earnings account has a debit balance of 2400

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Accounting Basics: The retained earnings account has a debit balance of 2400

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