When completing the spreadsheet to prepare the statement of cash flows, a decrease in retained earnings due to net loss would require an entry on the work sheet involving a a.debit to Operating Activities—Net Loss. b.credit to Retained Earnings. c.debit to Financing Activities—Net Loss. d.credit to Operating Activities—Net Loss.

After closing entries are posted, the ending balance of Retained Earnings on the general ledger should:   agree with the retained earnings balance in the income statement.   be zero.   agree with the retained earnings balance in the balance sheet.   agree with the retained earnings balance in the statement of cash flows.

In the Excel, or spreadsheet, approach to recording financial transactions, cash paid to creditors is recorded as a decrease in the Cash column and as a decrease in the Retained Earnings column.

View previous at Required information Assume a company prepares the statement of cash flows using the indirect method. The company purchases its Inventory on credit from suppliers. How should a decrease in accounts payable be reflected In the section that reconciles net income to cash flow from operating activitles? Multiple Choice It would be added if the section starts with net income and subtracted if it starts with a net loss It would be added in reconciling net income to cash flow from operafing activities It would be subtracted in reconciling net income to cash flow from operating activities A change in accounts payable does not affect the reconciliation of net income to cash flow from operating activities < Prev 15 of 15 Next Form 1040Sch...pdf 6 Form1040 Sch...pdf B1040 Sohedul...pdf Form8829 (1).pdf MacBook Air