Substitute the value of the variable into the equation and simplify.
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Yes because it is the amount you are studying.
Answer:
Interval?
Step-by-step explanation:
Answer:
b) update the Retained Earnings account.
Step-by-step explanation:
A major purpose of preparing closing entries is to - update the Retained Earnings account.
Retained earnings are defined as those profits, that a company has earned to date minus any dividends or other money paid to investors.
Whenever we make an entry to the accounting records, that affects a revenue or expense account, this retained earning amount is adjusted.