FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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1.
Which of the following is not a component of shareholders' equity?
a.Loss on sale of equipment
b.Dividends payable
c.Retained earnings
d.Net income
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- 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 earningsarrow_forwardDescribe restrictions on retained earnings.arrow_forwardWhy the dividend does exceeds the balance in retained earnings, the excess referred to as a liquidating dividend?arrow_forward
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