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3 years ago

Retained earnings on the balance sheet?

Business

1 answer:

belka [17]3 years ago

3 0

Answer:

The answer is D. have already been reinvested in the firm

Explanation:

Retained Earning is that part of income or profit that was not distributed out as dividend.

It is retained to grow the business or make the business bigger. It is part of shareholder's equity.

Option A is wrong. It doesn't increase with operating income. It depends on dividend policy and the net profit

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Delta Company purchased a delivery truck for a total cost of $15,000. Delta paid $2,000 in cash and signed a note payable for th

kupik [55]

Answer:

increase assets by $13,000, increase liabilities by $13,000 and have no effect on equity.

Explanation:

Given that

The total cost of purchase of delivery truck = $15,000

Cash paid = $2,000

The accounting equation equals to

Total assets = Total liabilities + owners equity

The remaining amount left would be equal to

= $15,000 - $2,000

= $13,000

So it would increase the assets for $13,000 as the delivery truck is purchased plus there is also an increase in liabilities for $13,000 as it signed a note payable and there is no effect on equity

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3 years ago

During 2022, Sheridan Company entered into the following transactions.

malfutka [58]

Answer with its Explanation:

Transaction 1: The purchase of equipment is increase in the fixed assets and as the amount paid is in cash, the decrease in cash asset will also be with the same amount. This means the net effect on assets will be zero.

Accounting Equation is given as under:

Fixed Assets + Current Asset = Equity + Liability

Equipment 318,770 - Cash $318,770 = Zero Net Effect

Transaction 2: The increase in the equity will increase the current asset as well here, which means:

Fixed Assets + Current Asset = Equity + Liability

Current Assets + $139,050 = Issued common stock + $139,050

Transaction 3: The purchase of inventory on account means that the current asset would be increased and the payables will increase with the same amount. The effect on the accounting equation is given as under:

Fixed Assets + Current Asset = Equity + Liability

Current Asset + $70,94 = Current liabilities + $70,940

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2 years ago

You were recently selected for an important 2-year overseas assignment in Qatar. This is a big career opportunity and a chance t

Ierofanga [76]

Answer:

Create a list of the things that you found to be different than what you expected during your visit and plan some strategies for adjusting to these differences.

Explanation:

This will help in planning and adjusting better and be careful.

Consider other option like 'focus your efforts on closing out all of your remaining projects and commitments related to your current position to get ready for your overseas assignment' is not related with any cultural adjustment. Which according to the exercise is the most effective aproach to solve the problem.

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2 years ago

Prepare Hertog Company’s journal entries to reflect the following transactions for the current year. May 7 Purchases 200 shares

Mrrafil [7]

Answer:

Explanation:

Prepare Hertog Company’s journal entries to reflect the following transactions for the current year.

1. May 7 Purchases 200 shares of Kraft stock as a short-term investment in trading securities at a cost of $50 per share plus $300 in broker fees.

Dr Short Term Investments..............................10,000

Dr Broker Fess..........................................................300

Cr. Cash.................................................................................10,300

<em>Being purchase of 200 shares of Kraft stock as a short-term investment in trading securities at a cost of $50 per share plus $300 in broker fees</em>

<em />

2. June 6 Sells 200 shares of its investment in Kraft stock at $56 per share. The broker’s commission on this sale is $150.

Dr Cash................................................................11,050

Dr Broker Fess........................................................150

Cr. Cash............................................................................10,000

Cr. Gain on Sale of Short-term investments..............1,200

Being Sale of 200 shares of its investment in Kraft stock at $56 per share. The broker’s commission on this sale is $150

4 0

2 years ago

Who stated in the 1800s that matter is made of tiny particles called atoms that are indivisible. He thought they were solid litt

Wittaler [7]

Democritus is the right answer

4 0

2 years ago

Read 2 more answers