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Sergio039 [100]
4 years ago
7

When preparing a journal entry for a transaction that affects retained earnings, the "Retained Earnings" account should not be d

ebited or credited. Instead, the account which ultimately affects retained earnings should be debited or credited.True / False.
Business
1 answer:
yarga [219]4 years ago
4 0

Answer:

True

Explanation:

Retained earnings are the net earnings of an entity accumulated over time after payment of dividend. It is that part of earnings that is retain for expansion by the entity.

Generally, retained earnings are not changed by direct posting except it is prior year adjustment. in some entities, the amount that is transferred to retained earnings is system generated. Most transactions that affect retained earnings are debited or credited to account which ultimately affects retained earnings

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In August, one of the processing departments at Tsuzuki Corporation had beginning work in process inventory of $24,000 and endin
Ipatiy [6.2K]

Answer:

b. $307,000

Explanation:

Costs to be accounted in cost reconciliation report = Opening balance of work in process + Cost of production added during the month

= $24,000 + $283,000

= $307,000

Cost reconciliation report shows what costs need to be accounted for in a month and the manner in which they are actually accounted for.

It is a step in preparation of production report which shows how beginning work in process inventory and the costs which are added to production during the period are recorded.

Hence in cost reconciliation report pertaining to the month of Aug, opening work in process and costs added to production during the month are recorded.

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4 years ago
When the price of gasoline decreses, brad buys more gasoline and more of all other goods. this information describes:_____.
marshall27 [118]

When the price of gasoline decreases, brad buys more gasoline and more of all other goods. this information describes the real income effect of a price decrease.

The profits impact describes how the alternate in the charge of an awesome can change the quantity that purchasers will demand of that accurate and associated item, primarily based on how the fee change impacts their real income.

the cash earned with the aid of someone, company, authorities, etc. Over a particular period of time that is calculated through thinking of the impact of inflation on what can surely be sold with that cash: In common, an individual worker is increasing his or her real income by using much less than 1% at the present time.

A boom in real incomes will reason the call for items/offerings to boom (the extent to which relies upon the marginal propensity to eat). however, as the majority of united kingdom goods are imported, growth in the call for goods will increase the demand for imports.

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3 0
2 years ago
A television network is trying to generate interest in a new television show in advance of its premiere. The network sends out p
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A television network is that they send out press releases and markets it with mixed variable of different types of method acting. It also includes different stars that know each other.

Explanation:

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Answer and Explanation: From the given case/scenario we can state that, Brenda is an <em>effective manager . </em>Brenda Kraft has been known to completing high no. of projects and accomplishing every goal possible. These factors have played a key role in here being an effective manager. Although from the given information, nothing can be said about her efficiency, i.e. efficient manager tends to be incorrect since completing several projects does not reveal anything about their efficiency.

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3 years ago
On December 31, 2019, Oriole Inc. borrowed $3,240,000 at 13% payable annually to finance the construction of a new building. In
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