Answer: E) Both answers B and D are correct.
Explanation:
Inflation using the Consumer Price Index is calculated by;
= (CPI in current year - CPI in previous year) / CPI in previous year
Year 2 Inflation = (100 - 90) / 90
= 11%
Year 3 Inflation = (110 - 100) / 100
= 10%
Answer:
Flow chart or a flow model. I don't remember which it was
What are the statements to the question?
Answer:
Explanation:
a. The preparation of the retained earnings statement for the month ended November 30, 2018 is presented below:
Healthy Products Company
Retained Earning statement
For the month ended November 30, 2018
Beginning balance of retained earning $2,940,000
Add: Net income $93,500
Less: Cash Dividend paid -$7,000
Ending balance of retained earning $3,026,500
b. As the trial balance, income statement, and the statement of the stockholder equity that comprise of common stock and the retained earning is prepared before preparing the balance sheet. Because the amounts are required to preparing the balance sheet