Work standards _____

Bartlett Industries began operations on January 2, 2015, with an investment of $50,000 by each of its two stockholders. Net income for its first year of business was $240,000 . Bartlett Industries paid a total of $100,000 in dividends to its stockholders during the year. Read the information about Bartlett Industries. If the company's revenues were $500,000 for the year ended December 31, 2015,

how much were total expenses? a. $160,000 b. $260,000 c. $640,000 d. $740,000

Winters Corporation purchased 15,000 shares of Poores Corporation common stock for $60 per share on January 2, 2014. Poores Corporation reported net income of $1,500,000 for 2014 and paid dividends of $300,000 during 2014. Poores has a total of 50,000 shares of common stock outstanding. The entry that would be recorded to recognize the income is:

A) Cash 90,000 Dividend Income 90,000 B) Investment in Poores Corporation 450,000 Income, Poores Corporation Investment 450,000 C) Dividend Income 450,000 Cash 450,000 D) Investment in Poores Corporation 450,000 Cash 450,000