1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mrrafil [7]
3 years ago
5

Illustrate your understanding of how to use the adjusted trial balance to prepare a statement of retained earnings by completing

the following sentence. In order to prepare the statement of retained earnings, the balance of the (Retained earnings / Cash) account balance as well as any debit balance in the (Dividends / Supplies) account is transferred from the adjusted trial balance and is used along with the reported net income (loss) from the Income statement.
Business
1 answer:
Licemer1 [7]3 years ago
7 0

Answer:

Answer explained below

Explanation:

In order to prepare the statement of retained earnings, the balance of the RETAINED EARNINGS account balance as well as any debit balance in the DIVIDENDS account is transferred from the adjusted trial balance and is used along with the reported net income (loss) from the Income Statement.

NOTE:

Retained earnings refer to the net income accrued to a business after debiting its dividends to shareholders.

You might be interested in
Examine the quarterly sales data in a little different way. Contruct two pie charts, one for sales in 2012 and the other for sal
julsineya [31]

Answer:

sales are becoming less seasonal

Explanation:

besides constructing a pie chart, we can also answer this question by percentages (which is more exact).

2012:

total sales = $69,338

Q1 sales = $10,613 / $69,338 = 15.31%

Q2 sales = $6,424 / $69,338 = 9.26%

Q3 sales = $19,283 / $69,338 = 27.81%

Q4 sales = $33,019 / $69,338 = 47.68%

2013:

total sales = $142,238

Q1 sales = $30,342 / $142,238 = 21.33%

Q2 sales = $33,867 / $142,238 = 23.81%

Q3 sales = $34,246 / $142,238 = 24.08%

Q4 sales = $43,783 / $142,238 = 30.78%

During 2012, almost 50% of total sales happened during Q4, something similar to selling toys which are extremely seasonal due to Christmas.

During 2013, this changed since Q4 sales only represent 30% of total sales. Sales increased during Q1 and Q2, and slightly decreased in Q3. They are much more similar now, since sales are almost evenly spread throughout the year.

7 0
3 years ago
Raul is a financial analyst who oversees the daily financial expenditures for a major big box retailer. on a typical day, raul d
musickatia [10]

To enhance Raul’s well being at work, his manager should arrange Raul’s schedule in means of reducing the time of his work that will have enough time for him to balance home and work and in a way of maintaining his well being at work and his child at home.

7 0
3 years ago
Which of the following is an appropriate solution to an overspending allowance?
nika2105 [10]

Answer:

a

Explanation:

8 0
3 years ago
One-year Treasury securities yield 4%. The market anticipates that 1-year from now 1-year Treasury securities will yield 2.1%. I
Lesechka [4]

Answer:

3.05%

Explanation:

According to Pure Expectation Theory, the future short term interest rates are actually the forward rates.

Mathematically,

(1 + r2,0)^2 = (1 + r1,0)^1 * (1 + r1,1)^1

Here,

r2,0 is the rate of interest for 2 year treasury security from today

r1,0 is the rate of the interest for 1 year treasury security from today

r1,1 is the rate of the interest for 2 year treasury security from Year 1

By Putting Values, we have:

(1 + r2,0)^2 = (1 + 0.04)^1 * (1 + 0.021)^1

(1 + r2,0)^2 = 1.06184

By taking square-root on both sides, we have:

(1 + r2,0) = 1.0305

r2,0 = 3.05%

8 0
3 years ago
High-Low Cost Estimation and Profit Planning Comparative 2007 and 2008 income statements for Dakota Products Inc. follow: DAKOTA
Vika [28.1K]

Answer:

(a)

5,500 units

(b)

6,125 units

Explanation:

First, we need to calculate the per unit selling price.

                        2007       2008

Unit sales        5,000      8,000

Sales revenue $60,000 $96,000

Selling Price    $12           $12

Now we need th separate the vairbale and fixed cost from total expense using high low method

Variable cost = ( Higher activity Expense - Lower activity Expense ) / ( Higher activity - Lower activity )

Variable cost = ( $76,000 - $64,000 ) / ( 8,000 units - 5,000 units )

Variable cost = $12,000 / 3,000 units = $4 per unit

Fixed cost = $76,000 - ( $4 x 8,000 units ) = $44,000

Contribution Margin = Selling Price - Variable cost = $12 - $4 = $8

(a)

Breakeven Point = Fixed Cost  / Contributin margin per unit

Breakeven Point = $44,000 / $8 = 5,500 units

(b)

Target sales = ( Fixed cost + Desired Profit ) / Contribution margin per unit

Target sales = ( $44,000 + $5,000 ) / $8 = 6,125 units

8 0
3 years ago
Other questions:
  • The social media management dashboard that allows marketing managers submit messages to social media on a scheduled basis and al
    6·1 answer
  • Officials argue that the government needs to reduce the national debt. Which actions are most likely to accomplish this goal?
    10·1 answer
  • On January 1, 2017, Marin Company purchased 12% bonds, having a maturity value of $320,000, for $344,260.74. The bonds provide t
    12·1 answer
  • If Southwest Development Company is a​ 50-50 partnership of Merideth Harper and Christopher​ Black,: ​(Select the best answer​ b
    11·1 answer
  • Amy manages mobile device security for her company, an insurance firm. The company currently uses BYOD. She’s concerned about em
    10·1 answer
  • If you deposit $100 of currency into a demand deposit at a bank, this action by itself
    7·1 answer
  • The Master Budget You are currently working as a contractor building state of the art airports. One of the managerial accountant
    13·1 answer
  • The characteristics that make a team effective include ________.
    10·1 answer
  • City Auto Parts recently traded in store fixtures. The exchange had commercial substance. The old fixtures had a cost of $48,000
    9·1 answer
  • As a management function, organizing involves:_____.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!