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hoa [83]
3 years ago
6

If the sum of the Ending Balance(s) in the revenue account(s) is greater than the sum of the Ending Balances in the expense acco

unts, then Retained Earnings will increase as a result of the closing entries.a) trueb) false
Business
1 answer:
GenaCL600 [577]3 years ago
7 0

Answer:

The answer is true.

Explanation:

Retained Earnings are profit not distributed to shareholders inform of dividends. Retained earnings are adjusted a record or an entry impacts revenue or expense account.

If the sum of the Ending balance(s) in the revenue account(s) is greater than the sum of the ending balances in the expense accounts, then retained earnings, this means the net inflow is positive and this remaining sum goes into the retained earnings.

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_______________ ensures that all relevant financial information is reported. (select an option)
Wewaii [24]

Answer:

B. Full disclosure principle

Explanation:

Full disclosure principle ensures that all relevant financial information is reported

7 0
3 years ago
If the economy booms, Meyer&Co. stock will have a return of 20.4 percent. If the economy goes into a recession, the stock wi
Mnenie [13.5K]

Answer:

The standard deviation of the returns on the stock is 15.56%(Approx).

Explanation:

Expected Return=Respective return*Respective probability

=(20.4*0.67)+(-12.7*0.33)=9.477%

probability Return probability*(Return-Expected Return)^2

0.67          20.4 0.67*(20.4-9.477)^2=79.93899243

0.33          -12.7 0.33*(-12.7-9.477)^2=162.3003786

Total=242.239371%

Standard deviation=[Total probability*(Return-Expected Return)^2/Total probability]^(1/2)

=15.56%(Approx).

4 0
3 years ago
Prepare Journal Entries in a Revenue Journal Horizon Consulting Company had the following transactions during the month of Octob
Alexeev081 [22]

Answer and Explanation:

The recording and the computations are as follows

a. The recording of the October revenue transactions are shown below:

DATE INVOICE NO. ACCOUNT DEBITED POST.REF.  

ACCOUNT REC. DR.  FEES EARNED CR.

Oct 2       321        Pryor Co.  

380

Oct 3        322         Armor Co.  

540

Oct 14        323         Pryor co.  

190

Oct 24        324        Rose co.  

790

Oct 31    1900

b) Now the total amount for account receivable and fees earned is

Account receivable = 1900

Fees earned = 1900

c) The October 31 balance is

October 31 balance

= $380 + $190 - $380

= $190

5 0
3 years ago
Read 2 more answers
Tell, Inc., leased a building from Lott Corp. Tell paid monthly rent of $500 and was also responsible for paying the building’s
Ugo [173]

Answer:

Tell and Vorn

Explanation:

Based on the information given Lott will most likely prevail against TELL and VORN reason been that we were told that both TELL and VORN entered into an agreement on January 1 which means that both of them will be responsible for the DELINQUENT TAXES which has not been paid because Vorn occupy the building that was leased out to Tell from Lott Corp in exchange for the amount of $600 which will be monthly paid by Vorn to Tell, which means that in a situation were the taxes is said to be DELINQUENT TAXES in which neither of them paid the building's real estate taxes, Lott will most likely prevail against both TELL and VORN.

4 0
3 years ago
Daniel is the owner of a footwear manufacturing company. To increase the production of footwear on a weekly basis, he orders his
alexandr1967 [171]

Answer:

According to the Blake/Mouton grid, Daniel falls under the produce-or-perish management style, also known as the authority compliance style  

Explanation:

This management style is very autocratic, very much a Theory X management style.

Daniel is very autocratic, has strict rules and policies. In the short run, this management style can achieve high productive results, but in the long run the low morale of the workers will end up hurting their performance. Daniel believes that his employees are just a means to an end, and that their needs are secondary and not important.

7 0
3 years ago
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