1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nesterboy [21]
4 years ago
14

If revenues exceed expenses for the accounting period, the retained earnings account: a. Will have a lower balance after closing

. b. Will have a debit balance prior to closing. c. Will have a higher balance after to closing. d. All of these answer choices are incorrect.
Business
1 answer:
Sati [7]4 years ago
7 0

Answer:

The correct answer is letter "D": All of these answer choices are incorrect.

Explanation:

Retained earnings are the part of the company's net profits which does not pay out as dividends to shareholders. The company keeps this money in the business to reinvest it or uses it to pay off a part of its debt.

When revenues of a company exceed the expenses of a period, the firm has net income. Net income is reported as a credit entry. Thus, the retained earnings will have a credit balance prior to closing.

You might be interested in
The manager of a publishing company plans to give a $23,000 bonus to the top 12 percent, $10,000 to the next 25 percent, and $6,
I am Lyosha [343]

Answer:

total expected bonus = $1262800

Explanation:

given data

bonus = $23,000

Probability = 12 percent

bonus =  $10,000

Probability = 25 percent

bonus =  $6,000

Probability = 8 percent

total sales = 220

solution

first we get probability for bonus amount = $0

probability = 1 - ( 12% + 25% + 8 % )

probability =  0.55

so here Expected bonus per employee company will pay is

Expected bonus = $23000 × (0.12) + $10000 × (0.25) + $6000 × (0.08) + $0 (0.55)

Expected bonus = $5740

so total expected bonus is

total expected bonus = $5740  ×  220

total expected bonus = $1262800

8 0
3 years ago
After hearing an announcement made by a major soft-drink company, the APCS Soft Drink Company has decided to hire you to write a
Colt1911 [192]

Answer:

Yes

Explanation:

Yes, this concept is an example of supply and demand. When there is a limited supply of a product like the soft drinks in the vending machines then the price would match the number of people that want to buy the product. If in a very hot day more people want to buy a soft drink to cool down then the supply will begin to decrease as more people buy, this will create an increase in price as people would be ok with paying more money in order to be one of the lucky few to get one of the few soft drinks that are left.

6 0
3 years ago
At the end of the fiscal year, the balance in Factory Overhead is small. The balance will be a.transferred to Work in Process b.
Mademuasel [1]

Answer:

d.transferred to Cost of Goods Sold

Explanation:

Given that

Balance in the factory overhead is small

So, the balance is normally transferred to the cost of good sold as the factory overhead consists of the indirect cost which are required to producing a product while the cost of goods sold is the total cost which is incurred to manufacture the cost. It involves direct cost as well as the indirect cost

4 0
3 years ago
Suppose you are interviewing someone for the position of sales representative. Which of these personality traits might be a usef
julia-pushkina [17]

Answer:

e. High extraversion

Explanation:

The personality trait that can be a useful performance indicator for the position of a sales representative would be the trait of high extraversion.

Extroversion is a personality trait of more sociable people, that is, they are people who have the ability to maintain relationships with other people, have socialization facilities and have high energy to deal with social situations, such as parties, meetings and negotiations.

An outgoing sales rep could be helpful in personally dealing with customers and convincing customers with helpful arguments to buy the product.

8 0
3 years ago
Both newspaper journalists and postal workers have been negatively affected by
AnnyKZ [126]
The answer is "A) the popularity of electronic communication and the Internet".
Electronic communication provides the convenience for people. It leads the conventional newspaper and mail substituted by the electric one. The newspaper has been substituted by the electronic news. The conventional mail has been substituted by<span> social media and e-mail.</span>
8 0
3 years ago
Read 2 more answers
Other questions:
  • What type of mining is used for both coltan and gold?
    12·1 answer
  • Which of the following is NOT true of credit cards? AYou can be charged a fee if you are late making a monthly payment. BSome of
    15·1 answer
  • The contract to buy and sell real estate has a dates and deadlines section. should these dates be ignored:
    5·2 answers
  • One of the advantages of communicating through email rather than through letters and telephone calls is
    6·1 answer
  • What is the answer of this question <br> Plzz help me
    5·1 answer
  • Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compou
    5·1 answer
  • The financial statement that shows the beginning balance of retained earnings; the changes in retained earnings that resulted fr
    13·1 answer
  • On January 15, 2019, Vern purchased the rights to a mineral interest for $3,500,000. At that time, it was estimated that the rec
    13·1 answer
  • Drawbacks of using variable or full costing to set transfer prices include ______. Multiple select question. suboptimization tha
    9·1 answer
  • When crafting clear, written communication, you can practice the skill of productivity by __________.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!