The statement of owner's equity—also called the statement of retained earnings—shows the change in retained earnings between the start and end of a period (e.g., a month or a year). The record reflects a company's solvency and financial position.
<h3>What are the three financial statements?</h3>
The earnings report , record , and statement of money flows are required financial statements. These three statements are informative tools that traders can use to research a company's financial strength and provide a quick picture of a company's financial health and underlying value.
What is the statement of retained earnings ?
Reports the way that net and the distribution of dividends affected the financial position of the company during the accounting period. the sum of the share of net income which is not paid to the shareholder as dividend. the aim of the retained earnings is reinvestment
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Answer: Functional
Explanation: The functional structure of an organisational chart places people with similar skills who perform similar activities in a group under a common manager who answers to an executive a level up in the hierarchy who may oversee multiple departments. Therefore, an organizational chart of a company showing vice presidents with responsibility for key areas such as design, manufacturing, sales, marketing, and after-sales support would reflect a functional structure.
An advantage of the functional structure is that employees are allowed to focus their collective energies on executing their roles as a department but sometimes they might develop tunnel vision (seeing the company solely through the lens of the employee’s job function) and often at times there is a lack of inter-departmental communication.
N the united states, the control of the money supply is the responsibility of the Federal Reserve System.
The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial crises led to a desire for centralized control of the monetary system to alleviate crises. financial crisis.
The Federal Reserve System provides the country with a secure, flexible, and stable monetary and financial system. The main functions of the Fed include conducting national monetary policy, supervising and regulating banks, maintaining financial stability, and providing banking services.
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Answer:
D. The worksheet
Explanation:
Accounting records are documents used to analyze and prepare financial statements. Accounting records are also documents which can be used to assess the performance of a company and also serves as source of records for audit purposes.
The followings are essential parts of accounting records; balance sheet, statement of cash flow, the ledgers , the journals, income statements etc.
Answer:
under applied by $1,000.
Explanation:
The formula is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $101,998 ÷ 67,992 hours
= $1.50
Now we have to find the applied overhead which equal to
= Actual direct labor-hours × predetermined overhead rate
= 70,000 hours × $1.50
= $105,000
So, the ending overhead equals to
= Actual manufacturing overhead - actual overhead
= $106,000 - $105,000
= $1,000 under-applied
