Answer:
Statement of retained earnings
For the year ended 2017
Retained earnings, January 1, 2017 $0
Add: Net Income $54,000
Less: Dividends $<u>22,000</u>
Retained earnings, December 31, 2017 <u>$32,000</u>
Statement of retained earnings
For the year ended 2018
Retained earnings, January 1, 2018 $0
Add: Net Income $59,000
Less: Dividends <u>$34,000</u>
Retained earnings, December 31, 2018 <u>$25,000</u>
Answer:
a) To verify transactions have the correct date assigned to them
c) To verify that all transactions have been recorded for the period
d) To verify that previously reconciled transactions have not been changed since the last reconciliation
Explanation:
It is very important that one reconciles their bank and credit card accounts and some of the reasons are;
To ensure that transactions occurred on the correct date. This is important because it ensures that fraud has not been committed and that transactions are being recorded accurately.
To ensure that all transactions for the period have been recorded. This is to ensure that the balance on the card is reflective of what has actually transpired in the period.
To ensure that the previously recorded transactions have not changed. This is done to ensure that you are not incurring any costs that yu may be unable to trace.
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Answer:
The correct answer is D
Explanation:
Liquidated debt is the kind or form of debt which is paid. It is the amount of debt which is determined through the agreement among the parties or through the legal proceedings.
The debt is considered to be liquidated when it is certain what amount is due. So, in this case, Morgan and banker knew the amount of the aggregate obligation as the contract states. Therefore, it is a debt which is liquidated.
Educational is NOT a type of insurance.