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
_________ is a condition in which the average level of prices is actually falling.
jeyben [28]

Answer:

<em>Deflation</em>

Explanation:

<em>Deflation is the overall decrease in products and services prices when  the rate of inflation drops below 0%</em>. it naturally occurs when an  economy's money supply is fixed.  

The buying power of currency and salaries in moments of deflation is greater  than they would have been.

This is different but comparable to <em>price deflation,  which is a general price level reduction.</em>

6 0
3 years ago
Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can.
yarga [219]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can. During April, 304,000 cans were produced using 1,243,000 ounces of aluminum. The actual cost of aluminum was $0.17 per ounce and the standard price was $0.07 per ounce.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= ( 0.07 - 0.17)*1,243,000= $124,300 unfavorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,337,600 - 1,243,000)*0.07= $6,622 favorable

4 0
3 years ago
The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to th
xxMikexx [17]

Answer:

The correct answer is Option D.

Explanation:

Internal control comprises the whole system of financial and other controls established and operating within a business, including internal check, internal audit and all other forms of control.

Based on Committee of Sponsoring Organizations (COSO) framework, there are 5 interrelated components of internal control, which are: Control environment, Risk assessment, Control activities, Information and communication and Monitoring.

It is necessary to stress that internal control relates to all forms of controls within an organization and not necessarily limited to only accounting matters e.g., a security check on vehicles exiting business premises to be sure they are not carrying stolen items from the organization is an internal control but not an accounting-related.

7 0
3 years ago
Novak Corp. has 44,000 shares of $11 par value common stock outstanding. It declares a 11% stock dividend on December 1 when the
Aleonysh [2.5K]

Answer:

in my best defence, the answer is 22

Explanation:

3 0
3 years ago
What are the disadvantages of using social media to evaluate candidates for a job opening? Check all that apply
leva [86]

Answer:

a. Some candidates may have little or no social media presence.

d. Social media profiles may not paint a complete picture of people.

e. Social media profiles cannot accurately predict future job performance.

Explanation:

i just got it right :)

5 0
3 years ago
Read 2 more answers
Other questions:
  • The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below.
    13·1 answer
  • g on january 1 playa company acquires 90 percent ownership in seaside corporation for 180,000 the fair value of noncontrolling i
    9·1 answer
  • A department store decides to use "secret shoppers" at unannounced times to test for service quality among its personnel. Store
    15·1 answer
  • Competition affects prices, but does not have any other effects.<br> True<br> False
    15·2 answers
  • The bank statement for Tetra Company contained the following items: a bank service charge of $10; a credit memo for interest ear
    13·1 answer
  • PS.02 A process that utilizes inexpensive general-purpose capital equipment will tend to have higher skilled workers.
    10·1 answer
  • If a company has the following: A company that was to be liquidated had the following liabilities: Income Taxes $ 10,000 Notes P
    15·1 answer
  • The expected average rate of return for a proposed investment of $5,610,000 in a fixed asset, using straight-line depreciation,
    7·1 answer
  • Some one please help I will give you 100 points and a brilliant abswer​​
    15·2 answers
  • When starting a business, more women choose ________ industries that tend to have lower average sales levels.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!