All categories

3 years ago

The net increase or decrease in Retained Earnings for a period is recorded by closing entries.

Business

1 answer:

eimsori [14]3 years ago

8 0

Answer:

True

Explanation:

The net revenue or net loss would be expressed in the retained earnings account statement.

The computation of the ending retained earning balance is shown below:

The ending balance of retained earning = Opening balance of retained earnings + net income or net loss - cash dividend paid

These are the closing entries which are shown below:

Income summary A/c Dr

To Retained earning

(Being the difference is credited to retained earning)

Retained earnings A/c Dr

To Cash Dividend A/c

(Being dividend account is closed)

You might be interested in

While a Guaranteed No-lapse Rider relieves the policyowner of the responsibility of monitoring the policy's cash value what is r

True [87]

Pay the Premium in full and on time.

Explanation:

A No-lapse guarantee offers an insurance company commitment that a fixed life insurance policy is in place – even though, as long as the agreed retention premium is calculated at the required time, the cash value in the policies drops to zero or less than zero.

The No-Lapse insurance fee is the amount to be paid in order for the policy to remain in force unless the policy is carried out effectively for a certain number of years. The coverage will continue during the lapse period, even when the cash value drops to zero. The insurer provides the guarantee.

When the fee is not collected on the due date, it shall be deemed to have been default and the policyholder may forfeit his advantages. During that time, the fee can be charged without additional charges and the scheme remains in effect.

8 0

3 years ago

AnyCo is a US consumer product company enjoying broad distribution and dominant market share in its domestic market. An opportun

brilliants [131]

Answer:

AnyCo's BOD should opt for Over the internet distribution mode.

Explanation:

As per the attached sheet, please see that considering the different cost of various alternatives, over the internet distribution mode seems to be the most lucrative one.

Download xlsx

8 0

4 years ago

Part 1 Using the refusal skills sequence, complete the case scenario by indicating how you would refuse to be involved in the si

BARSIC [14]

<em>Incomplete question. </em>

<u>Full Question and Explanation:</u>

1. What are they asking me to do and why?

They are asking me to do things both illegal and sexual that I do not believe in doing.

2. Label what they are asking you to do (i.e. illegal, dangerous, etc.).

It is Illegal, sexual, and dangerous

3. Determine the consequences if you get caught or if you participate in this activity.

I could get infected with a disease or even get arrested by law enforcement agents.

4. Communicate my refusal.

I do not do such things and I will not follow others in their wrongful course.

5. Say no.

No matter what you say, I say no!

6. Use "I" statements.

I feel that you do not consider my feelings when you try to force me because I don't want to do these things.

7. Suggest an alternative.

No, lets go and watch a movie at the movie theater.

8. Leave the scene and avoid questionable places.

My mom must be waiting for me by now, I'll have to go home.

6 0

3 years ago

Select all that apply.

Yuliya22 [10]

Answer:

clothing, shoes, personal hygiene

Explanation:

5 0

3 years ago

Read 2 more answers

Lance Lopes went to his bank to find out how long it will take for $1,300 to amount to $1,925 at 8% simple interest. Can you sol

Dennis_Churaev [7]

Answer:

It will take 6 years to generate an amount of 1,925

Explanation:

$Amount - Principal = Interest$

1,925 - 1,300 = 625 interest

Then we calcualte the interest

$Principal \times rae \times time = Interest$

We post our know values and sovle for time

1,300 x 0.08 x time = 625

625/(1,300x0.08) = time 6.0096 = 6 years

7 0

3 years ago