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evablogger [386]
3 years ago
7

Illustrate your understanding of how to use the adjusted trial balance to prepare a statement of retained earnings by completing

the following sentence. In order to prepare the statement of retained earnings, the balance of the________________. (Retained earnings / Cash) account balance as well as any debit balance in th_______e (Dividends / Supplies) account is transferred from the adjusted trial balance and is used along with the reported net income (loss) from the Income statement.
Business
1 answer:
ki77a [65]3 years ago
5 0

Answer:

a. Retained earnings

b. Net income

Explanation:

The statement of the retained earning is shown below:

Retained Earning statement

For the year ended

Beginning balance of retained earning XXXXX

Add: Net income  XXXXX

Less: Cash Dividend paid  XXXXX

Ending balance of retained earning  XXXXX

With the help of the retained earning, net income, and the dividend the statement of the retained earnings should be prepared.

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lilavasa [31]

Answer:

D) Liquidity

Explanation:

A closely held corporation has a limited number of stockholders, that is why  their shares are not frequently traded. An advantage of purchasing shares from a publicly traded corporation is that they are traded on a daily basis, and if the investor needs to sell his/her shares, it can be done fairly quickly (they are a fairly liquid investment). On the other hand, since the shares of a closely held corporation are not frequently traded, even though they might be listed on a stock exchange, it may take much longer to sell them which makes them an illiquid investment.

7 0
4 years ago
Waylon is back-to-school shopping with his mom at a large
Oduvanchick [21]
Waylon's Purchase will cost $198.05, and section B depends.

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4 0
3 years ago
Tài liệu về NVL X tại 1 DN tính và nộp thuế GTGT theo phương pháp khấu trừ tháng 03/N
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8 0
3 years ago
William buys a house for $500,000 from Keith Geller through a realtor. He makes a down payment of $200,000. He borrows the rest
Leto [7]

Answer:

Option C Smith and Sons

Explanation:

The reason is that the person who lends the money is a lender or creditor, whereas the person who borrows money from the creditor is a debtor or a borrower. In this case, William borrowed money so he is the debtor and the person who lend money to William are Smith and Sons, so Smith & Sons are the creditor in this case.

8 0
3 years ago
If a potential source presents any kind of bias, it should automatically be ruled out.
slava [35]

True

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7 0
3 years ago
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