Question 38 2 points S Barker Companys records show the foll

Question 38 2 points S Barker Company\'s records show the followine for the month of january Total Retained Earnings at january 1 Total Retained Earnings at january 3 Total Revenues otal Dividends Declared.30.000 400.000 00,000 670.000 Total espenses for January were A $740.000 B. S770000. C. $570.000. D. $540000.

Solution

Ending retained earnings=Beginning retained earnings+Revenue-Expenses-Dividends

500,000=400,000+670,000-Expenses-30,000

Hence Expenses=(400,000+670,000-30000)-500,000

which is equal to

=$540,000.