Answer:
A) retained earnings represents a claim on cash.
Explanation:
Retained earnings are the accumulated profits that a company keeps that are left after dividends are paid. Retained earnings are the equivalent of a savings account for an individual. Retained earnings are shown in the balance sheet as part of owners' equity.
For example, corporation A had a net profit of $10 million during last year, and it paid dividends for a total of $4 million, its retained earnings for last year are $6 million.
Companies use retained earnings as money available for financing new or existing projects.
<span>28x = 126
divide each side by 28
x = 126/28
x = 4.5 miles</span>
1) freight
2)consignee
3) contract carrier
4) contairer
Answer:
C. $13,700
Explanation:
Given that;
Beginning retained earnings = $4,000
Net income during the period = $10,000
Dividends = $300
Computation of Ending balance in the retained earnings account
= Beginning retained earnings + Net income during the period - Dividends
= $4,000 + $10,000 - $300
= $13,700
Therefore, the ending balance in the retained earnings account is $13,700
Answer:
B. Debit Loss $5,000.
Explanation:
depreciation per year under straigh-line method:
depreciation per year: 20,000
book value at 2019 year-end:
140,000 - 20,000 x 2 = 100,000
disposal value: 95,000
loss for 5,000
loss at diposal: 5,000 debit
cash 95,000 debit
accumulated depreciation 40,000 debit
truck 140,000 credit
