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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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4 0
2 years ago
Total costs for Locke​ & Company at 140 comma 000 units are $ 289 comma 000​, while total fixed costs are $ 195 comma 000. T
Kobotan [32]

Answer: Total variable costs at a level of 260,000 units would be $1,74,460.

Explanation:

Total cost at 140,000 units = $249,000 and

Fixed cost = $195,000

Number of units = 140,000

∴ Total variable cost at 140,000 = Total cost - Total fixed cost

                                                      = 249000 - 195000

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Variable cost per unit = \frac{Total\ variable\ cost}{Number\ of\ units}

= \frac{94000}{140000}

= $0.671 per unit

Hence,

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5 0
3 years ago
What are the points of difference, or unique attributes, for gopro products?
erastovalidia [21]
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5 0
4 years ago
When Jasmine interviewed for a position as a computer programmer, she was asked to take a test on a particular programming langu
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Answer:

Performance

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Demand is the number of consumers willing and able to purchase a product at various prices over a period of time. Demand for goods refers to consumers' desire to purchase goods and their willingness and ability to pay for them.

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