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3 years ago

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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7 0

2 years ago

During a year, a firm's gross investment is $2 comma 000 and net investment is $1 comma 600. What is the firm's depreciatio

Leto [7]

Answer:

Option (D) is correct.

Explanation:

Given that,

During a year,

Firm's gross investment = $2,000

Firm's net investment = $1,600

Firm's depreciation = ?

Therefore,

Gross investment = Net investment + Depreciation

$2,000 = $1,600 + Depreciation

$2,000 - $1,600 = Depreciation

$400 = Depreciation

Hence, the firm's depreciation is $400.

6 0

3 years ago

What was the ratio of per capita income in each of the following countries to that in the United States in the year 2010:

svet-max [94.6K]

Answer:

For Countries (per capita) United States of America (per capita)

Ethiopia:

$380 $48,468

Mexico:

$9,271 $48,468

India:

$1,358 $48,468

Japan:

$44,508 $48,468

Explanation:

Ratio per Capita also known as Gross Domestic Product per Capita (GDP Capita) is the monetary measure of the market value of all the final goods and services produced in a specific time period within the country in view. It is useful for comparing national economies of different countries on the international market.

3 0

3 years ago

he Assembly Department of ByteSize, Inc., manufacturer of computers, incurred $ 260 comma 000 in direct material costs and $ 7

Mkey [24]

Answer:

Cost per equivalent unit for conversion cost = $116.66

Explanation:

Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required to a complete a set of work is done in the period under consideration.So there is no separation of the completed units into opening inventory and fully worked.

To determine the cost per equivalent unit, we use the formula below:

Cost per equivalent unit = $70,000/600

= $116.66

8 0

3 years ago

Read 2 more answers

MC Qu. 151 Using the information below for... Using the information below for Sundar Company; determine the total manufacturing

Sphinxa [80]

Answer:

Manufacturing Cost = 94,100

Explanation:

Given that,

Direct materials used = $ 20,500

Direct labor used = 26,000

Factory overhead = 47,600

Beginning work in process = 12,200

Ending work in process = 12,800

Manufacturing Cost = Direct Material + Direct Labor + Factory Overhead

Manufacturing Cost = $20,500 + 26,000 + 47,600

Manufacturing Cost = 94,100

5 0

3 years ago