Answer:
Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception
Explanation:
Retained earning is the balance of a company's profit that is retained after the distribution of dividend declared to it's shareholders.
A company that makes profit at the end of a reporting period usually make dividend declaration to its shareholder. The accumulation of these declarations are then taken out of the profit earned by the company. The balance when dividends declared(since it's inception) by the company is taken out from its profit, including any net losses is known as retained earning.
Answer:
$208
Explanation:
Using the FIFO Inventory method, inventory items are assumed to be sold in the order in which they were purchased from the earliest to the latest.
The order of purchase of the inventory items are.
Jun. 1, DVD Player 1012, $113
Nov. 1, DVD Player 1045, $95
Nov. 31, DVD Player 1056, $88
Therefore, if two of the three items are sold, the cost of goods sold is the cost of the first two items purchased
= 113 + 95 = $208.
The GROSS NATIONAL PRODUCT(GNP)
its the market value of all the products and services produced in a given year
<span>If I have a one year loan outstanding on my car and make monthly $400 payments, my timeline would include twelve equal payments of $400 starting now. The bank's timeline would be the same twelve equal installments of $400 but they would be cash inflows since I am paying the money to the bank. I would consider the $400 a cash outflow.</span>
