Retained earnings can always be described as: a.) The difference between assets and liabilities b.) Equal...
Retained earnings can always be described as:
a.) The difference between assets and liabilities
b.) Equal to the company's cash account
c.) The amount of cash retained in the business
d.) One source of financing a company's assets
e.) more than one of the above.
Homework Answers
Option C
As the name suggests, retained earnings is the profit retained in the business after paying all cash dividends and intended to be re invested.
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Retained earnings can always be described as:
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If the liabilities of the Barrel Corporation equal $275,000, the retained earnings are $150,000, and capital...
If the liabilities of the Barrel Corporation equal $275,000, the retained earnings are $150,000, and capital stock equals $92,500, the company’s assets are: Select one: A. $467,500 B. $257,500 C. $282,500 D. $517,500
Which of the following terms appropriately refers to the difference between the assets and liabilities of...
Which of the following terms appropriately refers to the difference between the assets and liabilities of a not-for-profit organization? Select one: a. Stockholders’ equity. b. Owners’ equity. c. Net assets. d. All of the above. e. None of the above.
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* Data Table ASSETS = LIABILITIES EQUITY Contributed Capital Retained Earnings Cash Land = Accounts +...
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A classified balance sheet: a Reports the effect of profit and dividends on retained earnings. b...
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Please show how you got the retained earnings The current assets and current liabilities sections of...
Please show how you got the retained earnings
The current assets and current liabilities sections of the balance sheet of Cullumber Co. appear as follows. Cullumber Co. Balance Sheet (Partial) As of December 31, 2017 Cash $18,500 Accounts payable $28,900 Accounts receivable $38,600 Notes payable 14,300 Less: Allowance for doubtful accounts 2,500 36,100 Unearned revenue 3,000 Inventory 61,900 Total current liabilities $46,200 Prepaid expenses 6,800 Total current assets $123,300 The following errors in the corporation's accounting have been discovered: 1....
Assets = Liabilities + Stockholder's Equity Cash + Land Notes Payable Common Stocks Retained Earnings Affected...
Assets = Liabilities + Stockholder's Equity Cash + Land Notes Payable Common Stocks Retained Earnings Affected Account Balances $ 16,000 + $ 40,000 = $ 10,000 + $ 32,000 + $ 14,000 1 $ + = + $ + 2 + = + + 3 + = $ + + 4 + = + + 5 + = + + 6 + = + + Totals + = $ + $ + $ Company transactions during the accounting period: 1....
show work for each question as necessary, please be neat 1. A list of assets, liabilities...
show work for each question as necessary, please be neat
1. A list of assets, liabilities and equity can be found on which of the following? A) Balance Sheet B) Income Statement C) Statement of Assets and Liabilities D) Statement of Cash Flows E) Statement of Stockholders' Equity 2. A company's net cash flow will equal its net income A) Almost always B) Rarely C) Occasionally D) Only when the company has no investing cash flow for the period E)...
Assets = Liabilities + Common Stock + Retained Earnings Allen $11,000 = $7,700 + $2,640 +...
Assets = Liabilities + Common Stock + Retained Earnings Allen $11,000 = $7,700 + $2,640 + $ 660 White $16,000 = $3,840 + $8,960 + $3,200 Required a. Based on this information alone, can White pay a $3,800 dividend? Yes No b-1. Reconstruct the accounting equation for each company using percentages on the right side of the equation instead of dollar values. b-2. Which company is more financially stable? Allen White c. Assume Allen incurs a $5,300 operating loss. The...
Check my Accounting Titles for Retained Earnings Event Assets Land 26,000 Cash 16,000 Liabilities Notes Payable...
Check my Accounting Titles for Retained Earnings Event Assets Land 26,000 Cash 16,000 Liabilities Notes Payable 12,600 Stockholders' Equity Common Stock Retained Earnings 7,600 21,800 Balance 01/01/Year 2 Better Corp.completed the following transactions during Year 2: 1. Purchased land for $8,000 cash. 2. Acquired $31.000 cash from the issue of common stock 3. Received $70,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,400. 5. Borrowed $16,000 cash from the bank. 6. Pald a $8.000 cash...
* Data Table ASSETS = LIABILITIES EQUITY Contributed Capital Retained Earnings Cash Land = Accounts + Common - Dividends - + Accounts + Office + Receivable Supplies + $ 3,100 + $ 0 + $ Rent Expense + Service Revenue + $ 3,100 - Advertising Expense Payable 8,000 + $ Stock 5,100 Bal. $ 2,100 11,000 = $ Print Done * More Info a. b. c. e. Received contribution of $8,000 cash from Mary Montana in exchange for common stock....
Please show how you got the retained earnings
The current assets and current liabilities sections of the balance sheet of Cullumber Co. appear as follows. Cullumber Co. Balance Sheet (Partial) As of December 31, 2017 Cash $18,500 Accounts payable $28,900 Accounts receivable $38,600 Notes payable 14,300 Less: Allowance for doubtful accounts 2,500 36,100 Unearned revenue 3,000 Inventory 61,900 Total current liabilities $46,200 Prepaid expenses 6,800 Total current assets $123,300 The following errors in the corporation's accounting have been discovered: 1....
show work for each question as necessary, please be neat
1. A list of assets, liabilities and equity can be found on which of the following? A) Balance Sheet B) Income Statement C) Statement of Assets and Liabilities D) Statement of Cash Flows E) Statement of Stockholders' Equity 2. A company's net cash flow will equal its net income A) Almost always B) Rarely C) Occasionally D) Only when the company has no investing cash flow for the period E)...
Check my Accounting Titles for Retained Earnings Event Assets Land 26,000 Cash 16,000 Liabilities Notes Payable 12,600 Stockholders' Equity Common Stock Retained Earnings 7,600 21,800 Balance 01/01/Year 2 Better Corp.completed the following transactions during Year 2: 1. Purchased land for $8,000 cash. 2. Acquired $31.000 cash from the issue of common stock 3. Received $70,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,400. 5. Borrowed $16,000 cash from the bank. 6. Pald a $8.000 cash...
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