A company’s book value increases when a company retains its net income.<br> a) true<br> b) false

Flounder has year-end account balances of Sales Revenue $843,779, Interest Revenue $12,160, Cost of Goods Sold $531,052, Adminis

ella [17]

Answer:

Dr Sales Revenue $843,779

Dr Interest Revenue $12,160

Cr Income Summary $855,939

Dr Income Summary $745,754

Cr Cost of Goods Sold $531,052

Cr Administrative Expenses $177,930

Cr Income Tax Expense $36,772

Dr Income Summary $110,185

Cr Retained Earnings $110,185

Dr Retained Earnings $17,793

Cr Dividends $17,793

Explanation:

Preparation for the year-end closing entries.

Dr Sales Revenue $843,779

Dr Interest Revenue $12,160

Cr Income Summary $855,939

($843,779+$12,160)

Dr Income Summary $745,754

($531,052+$177,930+$36,772)

Cr Cost of Goods Sold $531,052

Cr Administrative Expenses $177,930

Cr Income Tax Expense $36,772

Dr Income Summary $110,185

($855,939-$745,754)

Cr Retained Earnings $110,185

Dr Retained Earnings $17,793

Cr Dividends $17,793

5 0

3 years ago

Juan and violet have shared an office for two weeks. neither of them spends time organizing or cleaning the office so it is beco

Alexandra [31]

Juan should call Violet and discuss the issue with her. The two of them should reach an agreement on how they will be taking care of the office on a daily basis. Each of them should be responsible for cleaning and organizing the office daily. In case the two of them are always too busy to clean up, then, they can employ a cleaner, who will be cleaning for them daily and the two of them will contribute to pay the cleaner.

8 0

3 years ago

To measure changes taking place in your financial situation, you probably need to calculate financial ______. multiple choice qu

ipn [44]

To measure changes taking place in your financial situation, you probably need to calculate financial ratios.

<h3>What is financial ratio?</h3>

A financial ratio can as well be described as the accounting ratio which is the relative magnitude of two selected numerical values that is been gotten from a enterprise's financial statements.

It encompass many standard ratios used to try to evaluate the overall financial condition , hence To measure changes taking place in your financial situation, you probably need to calculate financial ratios.

Learn more about financial ratios at:

brainly.com/question/17014465

#SPJ1

6 0

2 years ago

The designated market value:a. is always the middle value of replacement cost, net realizable value, and net realizable value le

eduard

Answer:

a. is always the middle value of replacement cost, net realizable value, and net realizable value less a normal profit margin.

Explanation:

As we know that inventory will be recorded at cost or market value whichever is lower. But in the given case, the replacement cost would be recorded at higher values and lesser values. Higher values represent the Net realizable value whereas the lesser values represent the net realizable value less than the normal profit margin.

And if the replacement cost lies in this range than it represents the designated market value.

Hence, option a is correct.

4 0

3 years ago

What happens if you fail to pay your annual taxes?

aleksklad [387]

Answer and Explanation:

Simply enough, the IRS comes for you and charges a failure to pay penalty. The penalty is 0.5% of your previous unpaid taxes for every month. So if you wouldn't want to lose more money, I'd suggest you pay your taxes.

7 0

2 years ago

A company’s book value increases when a company retains its net income. a) true b) false