Answer:
$120,669
Explanation:
Ending Retained Earnings = Opening Retained Earning + Net Income - Dividends
therefore,
Ending Retained Earnings = $90,369 + $46,300 - $16,000 = $120,669
thus,
Ending balance in Retained Earnings be next year will be $120,669
Answer:
True
Explanation:
There are two columns in the trial balance, namely columns of debits and columns of credits. It is always important to balance the total debit and credit columns. The debit columns reflect assets and expenses side while sales, stockholder equity, and the liability side are listed in the credit column.
After passing the adjusting entries, the account balances are updated which we called a post-closing trial balance
So, the given statement is true
Answer: cost ratio
Explanation: The terms of trade must be higher (graphically to the right) of a nation's own production cost ratio. The production cost ratio allows small-scale manufacturers to determine their cost more accurately as well as control known cost parameters and is a method that can be adapted and applied to any business.
In a multi-product manufacturing firm, the production cost ratio is necessary for accurate compilation and allocation of production costs to each category of product especially when both the Production Time and the Production Runs are not the same and/or when fixed labor, overhead and other costs are drawn from the same pool. When the ratio is not applied results in a skewed allocation of production costs. This in turn can affect the business as it becomes difficult to ascertain the products whose production are more profitable to the business.
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