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charle [14.2K]
3 years ago
5

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)

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Trade policies Group of answer choices alter the trade balance because they alter imports of the country that implemented them.
a_sh-v [17]

Answer:

do not alter the trade balance because they cannot alter the national saving or domestic investment of the country that implements them.

Explanation:

Trade policy explains rules, regulations, and standards that are relevant to trade relations between two countries. Trade policy is also called the Commercial policy.

Trade policies do not alter the trade balance because they cannot alter the national saving or domestic investment of the country that implements them.

7 0
3 years ago
As a financial manager you must choose between three alternative investments. Each investment is expected to provide cash inflow
AVprozaik [17]

Full question attached

Answer:

B. Choose investment A

Explanation:

Looking at the investment cash flows for the four years, investment A maximises the shareholders wealth mostly because it covers cost of investment quicker than other investments B, C and D. It begins with the highest cash flow return, for first and second year therefore pay back period is lower with investment A. Also net present value is higher.

6 0
4 years ago
Tiger Trade has the following cash transactions for the period.
vovangra [49]

Answer:

                                Tiger Trade

                        Cash Flow Statement

Cash flows from operating activities:

  • Cash received from sale of products to customers $35,000
  • Cash received for sale of services to customers $25,000
  • Cash paid to merchandise suppliers ($11,000)
  • Cash paid to workers ($23,000)
  • Cash paid for advertisement ($3,000)

<u>Total cash flow from operating activities $23,000</u>

Cash flows from investing activities:

  • Cash received from the bank for long-term loan $40,000
  • Cash paid to purchase factory equipment ($45,000)
  • Cash received from the sale of an unused warehouse $12,000

<u>Total cash flow from investing activities $7,000</u>

Cash flows from financing activities:

  • Cash paid for dividends to stockholders ($5,000)

<u>Total cash flow from financing activities ($5,000)</u>

Net cash increase                                                               $25,000

Cash balance at the beginning of the period                     $4,000

<u>Cash balance at the end of the period                            $29,000</u>

4 0
3 years ago
Who does personal assistant assists<br><br>i) Sectional chief<br>ii) Office chief​
vlabodo [156]

Answer:

Office chief

Explanation:

Because he is the one to tell the people to come in or come out

4 0
3 years ago
The following data for the current year ended December 31, 2016, was extracted from the accounting records of Xender Co.: Cost o
Wewaii [24]

Answer:

income statement are given below

Explanation:

given data

Cost of merchandise sold =  $937,200

Operating expenses = 307,500

Sales = 1,230,250

solution

income statement are as

Income Statement for the year ended December 31, 2016

Sales                                                                      $1,230,250

Cost of Merchandise Sold                                    $937,200

Gross Profit                                                            $293050

Operating expenses                                              $307,500

net income                                                             -$14450                                                        

here Gross Profit is Sales  - Cost of Merchandise Sold  

Gross Profit  = $1,230,250 - $937,200 = $293050

and

net income  = Gross Profit - Operating expenses        

net income   = $293050 - $307,500 = -$14450    

6 0
3 years ago
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