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Naily [24]
3 years ago
14

Rockwell Inc. reported the following results for the year ended June 30, 2016:

Business
1 answer:
pychu [463]3 years ago
4 0

Answer:

See attached file

Explanation:

The Retained Earnings Statement is prepared to show changes in the amount  of retained earnings over the accountable period. Retained earnings and Stockholders´ contributions are the main accounts in Stockholders´ Equity.  

The first ones are profits reserved by the company to invest in future projects rather than distribute as dividends to shareholders, that’s why are calculated as follows:  

Retained Earnings Final Balance = Retained Earnings Beginning balance – Dividend in cash – Stock dividend + Net Income – Net loss.

Stock Divided will register as Stockholders´ contributions.  

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Consider the following comments about absorption- and variable-costing income statements:
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Answer:

E) I, II, and III.

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3 years ago
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