Business, 07.05.2020 02:08, merunikitty1226
Turquoise and Topaz Sisters had retained earnings of $10,000 on the balance sheet but disclosed in the footnotes that $2,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?
A. $8,000
B. $7,000
C. $5,000
D. $10,000
Answers: 1
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Turquoise and Topaz Sisters had retained earnings of $10,000 on the balance sheet but disclosed in t...
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