Answer:
Retained earnings refers to:
D. The net losses and dividends declared since its inception of a company's cumulative net profit.
Explanation:
Retained earnings are referred as :
- The overall earning the company have made till the present date.
- This earning excludes the dividend money and the money of the investors distributed.
- Whenever new records are made for the company this dividend money is readjusted.
- This leftover money has an impact on the account related to the expense and revenue.
- The retained earnings are built of the total income amount which has been given by a business after paying off the dividend to the shareholders.
So, here correct option is
D. The net losses and dividends declared since its inception of a company's cumulative net profit.
Answer: Communication cost
Explanation:
All or most server companies do allocate some form of liscence to their clients to browse the internet and use some internet tools for space of a period time. This service could either provide internet service or more depending on the cost and the kind of package that was bought. The process of acquiring this could be known as communication cost.
Answer:
b) credit to Rent Expense for $1530
Explanation:
Date Accounts and Explanation Debit Credit
Income Summary $5,550
Salaries & Wages Expense $2,900
Rent Expense $1,530
Advertising Expense $740
Supplies Expense $270
Insurance Expense $110
(To Close the expense accounts)
you own 30% of the shares issued.
Answer: Activity based cost accounting
Explanation:
The activity based cost accounting is the one of the type of accounting method in an organization that assigned various types of objects for allocating indirectly the overall cost of the products in the department as compared to the conventional costing.
According to the given question, the activity based cost accounting is firstly assigning the cost to each activity and then assigning the products based in the consumption for different types of activities in production processing.
Therefore, Activity based cost accounting is the correct answer.
