Answer:
True
Explanation:
As we know that the ending balance of retained earnings is computed by considering the following equation
= Starting balance of retained earnings + net income - dividend paid
Since the net income which is come by subtracting the expenses from the revenue and the dividend paid is debited or credited at the time of passing the journal entries instead of retained earning account because these above accounts are got affected.
Like expenses account are always debited while the income account are always credited
Answer:
low-learning
Explanation:
Low Learning product is the product whose sales immediately begin because a little learning of the product is required by consumer and the benefits from the product are readily tangible.
Their sales begin quickly due to simplicity of product. This simplicity of product allows the consumers to understand product almost right away.
Example of low-learning product which has been successful is the Red Bull Drink. Consumers understand the need of the drink and is purchased in huge amounts.
Given:
Blue Ace Autos Inc: cost of goods sold / revenue = 63.4%
Ferdova Autos Inc.: cost of goods sold / revenue = 54.2%
The percentage rate represents the part of the revenue that the cost of goods sold is a part of. This means that the revenue is 100%. The difference of the revenue and cost of good sold is the profit. The higher the percentage of the profit, the better.
Blue Ace Autos Inc: 100% - 63.4% = 36.6%
Ferdova Autos Inc: 100% - 54.2% = 45.8%
Ferdova Autos Inc. earn a higher profit (45.8% of revenue) than Blue Ace Autos Inc (36.6% of revenue).
Answer:
See below
Explanation:
First, we will calculate the depreciation expenses
Depreciation expense = Cost / life = $84,000 / 30 = $2,800 per year
