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exis [7]
4 years ago
14

Lorna just finished compiling her company’s income statement for the month ended March 31. Her next step in preparing the compan

y’s financial statements should be to A : subtract the company’s net income for March from the company’s retained earnings as of March 31. B : subtract the company’s net income for March from the company’s retained earnings as of March 1. C : add the company’s net income for March to the company’s retained earnings as of March 31. D : add the company’s net income for March to the company’s retained earnings as of March 1.
Business
1 answer:
shepuryov [24]4 years ago
3 0

Answer:

D : add the company’s net income for March to the company’s retained earnings as of March 1.

Explanation:

After preparing the income statement, the next step is to add the net income at the beginning retained earnings balance to find out the ending retained earnings balance.

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

Thus, all other options are incorrect except option D

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Items a through l represent possible errors and fraud that you suspect may be present at rex company. the accompanying list of a
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Answer:

a. Compare the details of cash receipts with journal entries.

b. Prepare a bank transfer schedule.

c. Confirm the terms of borrowing with the lenders agreement.

d. Send request to confirm the entity's account receivable balance.

e. Inspect payroll data of employees and cross check with the transaction recorded.

f. Obtain cut off bank statement to reconcile the transaction.

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Explanation:

Audit is mandatory for all the companies. The verified financial statements are considered as reliable because they are rechecked by the auditors and if any error or fraud is found it is immediately corrected and rectified. Audit is a critical process which involves objectivity and integrity of a person. The auditors must be independent and they should not have any familiarity with the business employees or owners.

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3 years ago
Employment in service occupations refers to______​
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4 years ago
What conclusion about state and local spending responsibilities can be drawn from the chart?
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Veronique and lily each bought a piece of luggage that had the same price in different stores. the table below shows how they wi
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According to the information in the Graph Veronique made a better decision than Lily because the final cost of her purchase is lower including finance charges (option B)

<h3>What is a finance charge?</h3>

A finance charge is an economic term that refers to additional charges made by finance companies (such as banks) to a transaction we make, such as a purchase.

In the case of Veronique and Lilly, they both bought the same suitcase with different prices. However, the better financial decision was Veronique's because she paid less ($25) for the same bag including finance charges.

While Lilly, despite having fewer fees, will have to pay $10 more than Veronique.

Note: This question is incomplete because the image is missing. Here is the image.

Learn more about payment in: brainly.com/question/15138283

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The main purpose of the standards of conduct is to
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The code of conduct provides guidance to employees on difficult ethical questions pertaining to the business.
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