Answer:
1.Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.
Explanation:
Retained earnings is an element of the balance sheet that represents the accumulated net income and losses and the amount paid to the shareholders over the years as dividend.
Each year, the company's net income or loss from the statement of profit or loss is posted into the retained earnings account.
It is an integral part of the owners equity along with ordinary share capital.
As such, retained earnings generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.
Explanation:
The adjusting entry is as follows
Insurance expense A/c Dr $4,800
To Prepaid insurance A/c $4,800
(Being the insurance expense is recorded)
The computation is shown below:
= Beginning balance + debited amount - unexpired insurance amount
= $6,600 + $2,300 - $4,100
= $4,800
So while preparing the adjusting entry, we debited the insurance expense account and credited the prepaid insurance account
Answer:
so value of the mistake is $311685.71
Explanation:
given data
present value = $1,200,000
time = 6 year
discount rate = 18%
discount rate = 8%
to find out
What is the dollar value of the mistake
solution
we get here present value that is express as for both rate that is
present value = 
put here value
present value = 
present value 1 = $444517.85
and
present value = 
present value 2 = $756203.55
so
difference is $756203.55 - $444517.85
difference is = $311685.71
so value of the mistake is $311685.71
Answer:
This is a personal question man
Explanation:
Im sorry, but I can't answer personal questions
Sorry
