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Nesterboy [21]
3 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]3 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.

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Neolithic people practiced metallurgy.
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Answer:

the answer is D

Explanation:

6 0
3 years ago
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During August, Salinger Company accumulated 580 hours of direct labor costs on Job 40 and 630 hours on Job 42. The total direct
Inga [223]

Answer:

Dr Work in process $13,210

Cr Wages payable $13,210

Explanation:

Based on the information given the appropriate journal entry to record the flow of labor costs into production during August is:

Dr Work in process $13,210

Cr Wages payable $13,210

(580*$13)+(630*$9)

($7540+$5670)

(To record the flow of labor costs into production during August)

6 0
3 years ago
On January 1 st, you make plans to travel to Switzerland the following summer. The direct quote for Swiss francs is $0.30.Since
konstantin123 [22]

Answer:

On January 1st, the $3,000 could buy 10,000 Swiss francs (3,000/0.3).

On June 1st, the $3,000 would buy 7,500 Swiss francs (3,000/0.4).

Explanation:

On January 1st, each Swiss francs could only purchase $0.30 while on June 1st, each Swiss francs could purchase $0.40.

These show that the Swiss francs had appreciated in value relative to the US Dollars with a positive change of 33%.  Therefore, the dollar had weakened against the Swiss francs by the same rate.

6 0
3 years ago
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The primary _______ of autotrader.com's research was to connect advertising on its website to actual dealership visits by custom
astra-53 [7]
The answer to this question is Objective
In business terms, objective refers to a specific result/situation that company wants to achieve within a certain time frame, after considering all their available resources. In this particular case, the research being done is the resource and connecting advertising to actual dealership is the result/situation that they want to achieve.
6 0
3 years ago
If GDP exceeds aggregate expenditures in a private closed economy: A. Saving will exceed planned investment B. Planned investmen
Leya [2.2K]

Answer:

The correct answer is A

Explanation:

GDP stands for Gross Domestic Product, it measures the economic activity value within a Country. It is the total of the market prices or the values of all the final goods and the services produced in the economy.

When the economy is private as well as closed, then the GDP is more than the aggregate expenditure, then the savings from the household exceed the planned investment.

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