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andreev551 [17]
3 years ago
5

A business will construct its financial statements in a particular order because they are interrelated. This means that items fo

rmulated in an earlier statement feed into the subsequent statements, and changes to items on one financial statement can have compounding effects on the overall financial position of a company. Which of the following is one reason the statement of owner's equity is prepared after the income statement?
a. Retained earnings are computed on the income statement.
b. Net income is the beginning retained earnings amount.
c. Retained earnings is really an asset.
d. Net income is part of the computation for ending retained earnings.
Business
1 answer:
Blizzard [7]3 years ago
7 0

Answer: d. Net income is part of the computation for ending retained earnings.

Explanation:

In the statement of owner's equity, Retained earnings are calculated and it is done with the Net Income. This is why when the net income is calculated from the Income Statement it is transfered to the SOE and used to calculate Retained Earnings.

Retained Earnings are calculated by the formula,

Ending Retained = Opening Retained Earnings + Net Income (losses) - Dividends

Net income is added to (or subtracted from if it is a Net loss) the Opening Retained earnings balance. Net dividends are also subtracted.

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At December 31, 2020, Carter Company had 450,000 shares of common stock issued and outstanding, 350,000 of which had been issued
Dennis_Churaev [7]

Answer:

$3.03

Explanation:

Calculation to determine What should be Twin Rivers' 2020 earnings per common share,

Using this formula

Earnings per common share=

Net Income for 2020/Weighted Average Shares Outstanding

Let plug in the formula

Earnings per common share=$1,160,000/ [(350,000 x 8/12) + (450,000 × 4/12)]

Earnings per common share=$1,160,000/(233,333+150,000)

Earnings per common share=$1,160,000/383,333

Earnings per common share= $3.03

Therefore What should be Twin Rivers' 2020 earnings per common share is $3.03

4 0
2 years ago
England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50 scones per hour or 1 sweate
torisob [31]

Answer:

A

Explanation:

The country with a comparative advantage in the production of a good should export the good

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

England

Comparative advantage in the production of scones = 1/50 = 0.02

Comparative advantage in the production of sweater = 50/1 = 50

Scotland

Comparative advantage in the production of scones = 2/40 =  0.05

Comparative advantage in the production of sweater = 40/2 = 20

England has a comparative advantage in the production of scones and should export scones

Scotland  has a comparative advantage in the production of sweaters and should export sweaters

7 0
2 years ago
Assume that activity G has the following times: Early start time 7 days Early finish time 13 days Late start time 15 days Late f
Aloiza [94]

Answer:

The correct answer is Activity G has s slack time of 8 days.

5 0
3 years ago
An economic system is a structure for
Dominik [7]
It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. As such, an economic system is a type of social system....
7 0
2 years ago
2. Because of the tender meat required, which of these cooking methods are the most expensive?
Vlada [557]

Answer:

The correct answer is letter "C": Steaming and broiling.

Explanation:

Steaming and broiling is the process by which food -in this case, meat- is cooked by placing it above a stove that is in heat. It enables to keep the natural flavor of the food and its nutrients. Besides, the shape and the color of the food do not suffer dramatic changes. Though, steaming ovens are expensive. Usually the cost more than $2000 (USD).

4 0
3 years ago
Read 2 more answers
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