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BlackZzzverrR [31]
3 years ago
8

In Q1 2018, CNA Companies reports the following transactions:

Business
1 answer:
kotegsom [21]3 years ago
4 0

Answer: B. ($11 million)

Explanation:

Out of the listed transactions there, these are the ones that can be taken out of Retained Earnings.

Loss on sale of equipment of $6 million

Preferred dividend of $2 million

Common dividend of $3 million

So calculating would be,

= - 6 - 2 - 3

= -$11 million

This means that Retained Earnings will reduce by -$11 million making option B correct.

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In the United States, which assessment system measures Inflation?
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Answer:

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Wright maintains an ending inventory for each month in the amount of one and one-half times the expected sales in the following
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The general ledger of the Fly-Buy-Nite (FBN) Engineering Company contained the following account balances. Construct an income s
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Fly-Buy-Nite (FBN) Engineering Company

Income Statement

Sales revenue                                          35,000

Less Expenses :

Administrative expenses      2,750

Sub-contracted services     15,000

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Interest expense                       200

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