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Name: Retained earnings, as a form of equityfinancing, area. gross earnings.
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Description: Retained earnings, as a form of equityfinancing, area. gross earnings.b. profits before taxes.c. profits after taxes.d. undistributed profits.e. total owners’ equity

Business

Accounting

Retained earnings, as a form of equityfinancing, area. gross earnings.b. profits before taxes.c. profits after taxes.d. undistributed profits.e. total owners’ equity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The type of account and normal balance of retained earnings is stockholders equity, credit contra asset, credit asset, debit liabilty, credit
Identify the term being referred to: The percentage of dividends to earnings after taxes.
Liabilities and stockholders' equity are: O increases in assets resulting from profitable operations O economic resources used by a business entity. O sources of financing for economic resources. shown on the income statement in calculating net income.
Sales revenue is reported in the stockholder’s equity section of the balance sheet? True/false
Under IFRS, liabilities and shareholders' equity on the balance sheet usually appear in which order? Equity, noncurrent liabilities, and current liabilities O Equity, current liabilities, and noncurrent liabilities Current liabilities, noncurrent liabilities, and equity Noncurrent liabilities, current abilities, and equity
Contribution received from shareholders will be recorded as. a. Dr Receivables Cr Cash account b. Dr Capital Cr Cash account c. Dr Cash account Cr Capital d. Dr Cash account Cr receivables
Which one of the following normally has a net debit balance? A. Contributed capital that is in shareholders’ equity. B. Retained earnings that is in shareholders’ equity. C. Dividends that decrease retained earnings Revenues that increase retained earnings. D. Revenues that increase retained earnings
Which of the following equations is correct? Multiple Choice Asset Liabilities-Shareholders' Equity Assets + Liabilities Shareholders' Equity Ending Retained Earnings Beginning Retained Earnings-Net Income Dividends Net Income Expenses-Revenues
Which of the following is the correct Basic Accounting Equation Oa ASSET + LIABILITIES= STOCK HOLDER'S EQUITY O b. ASSET= LIABILITIES + STOCK HOLDER'S EQUITY C LIABILITIES =ASSETS + STOCK HOLDER'S EQUITY Od ASSETS =LIABILITIES
Communication (income statement): The balance of Interest Expense from accruing interest to be paid has what effect on the income statement in the current year? Multiple Choice A. Decreases net income. B. No effect. C. Increases net income.
The proportion of profits distributed as dividends is called the and the retained proportion of profits is known as Oa Solvency ratio, retention ratio Ob. Solvency ratio, liquidity ratio C Dividend payout ratio, retention ratio D Dividend payout ratio, interest coverage ratio
Which of the following are increased by credits?: a) revenues and gains b) expenses and losses c) assets d) dividends