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Margaret [11]
3 years ago
7

The purpose of a statement of retained earnings is to: __________.

Business
1 answer:
marusya05 [52]3 years ago
4 0

Answer:

To determine the closing balance of retained earnings

Explanation:

First and foremost, retained earnings are an important part of the shareholders' equity. In a bid to ascertain the correct position of total shareholders' equity at year-end, it is important that a statement of retained earnings reconciling the opening retained with net income and dividends declared during the year is prepared.

The balance at the end of the year is the total accumulated earnings which have not been distributed to shareholders as dividends or which may be used to finance projects that increase shareholders' wealth

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Holling Inc. uses the weighted-average method in its process costing. The following data concern the company’s Mixing Departme
artcher [175]

Answer:

                     Statement of Cost per equivalent unit

Particulars                                                 Materials        Conversion

Cost of beginning work in process           $8,130             $9,128

Add: Costs added during the month        <u>$226,500</u>        <u>$284,232</u>

Total cost A                                                 $234,630       $293,360

Number of equivalent units B                    <u>   9,900   </u>        <u>   9,400   </u>

Cost per equivalent unit (A/B)                  <u>$23.70     </u>       <u>$31.21      </u>

8 0
2 years ago
Acme, Inc., incurs the following costs during May:
chubhunter [2.5K]

Answer:

Particulars                                            Amount

Raw material used                               $18,600

Add: Direct labor                                 $26,600

<u>Overhead costs</u>

Factory supplies                 $3,100

Plant depreciation              $6,800

Indirect labor                      $8,600

Utilities ($10,600*80%)       <u>$8,480</u>  

Total overhead cost                             <u>$26,980</u>

Total manufacturing costs                 <u>$72,180</u>

8 0
2 years ago
Having never been to singapore, you should still be able to tell me the % of work force involved in primary and secondary activi
nikklg [1K]
<span>The percentage of work force involved in primary and secondary activities is probably equal to or less than 30%. In an economy like Singapore, development has been really fast due to which service sector particularly tourism accounts a major share. Hence the workforce involved in primary and secondary activities is declining and the share of workforce in these activities is approx 30% of the total workforce.</span>
3 0
3 years ago
An investment has the following payment structure: 1,000 payable in one year, 1,000 payable in two years, and 1,000 payable in t
Shtirlitz [24]

Answer: C. 7.3%

Explanation:

The yield rate is a weighted average of the yields over the years:

= [ (1 * 6%) + (2 * 7%) + (3 * 8%)] / ( 1 + 2 + 3)

= 44%/ 6

= 7.33%

= 7.3%

3 0
3 years ago
Which of these should you consider while communicating in a diverse workplace?
Rudiy27
I would consider demographics, education level, and methods of communication
3 0
3 years ago
Read 2 more answers
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