Question: Which one of the following creates a decrease in retained earnings? Select one: a. Equipment b. Prepaid assets c. Merchandise inventory not sold d. Dividends

Which one of the following creates a decrease in retained earnings?

Select one:

a.

Equipment

b.

Prepaid assets

c.

Merchandise inventory not sold

d.

Dividends

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Please advise on if these are the correct placements and calculations: The information on the following page was obtained from the records of Breanna, Inc.: Accounts receivable Accumulated...

Q:

Required: Prepare a multi-step income statement, from the following data for Kooper Co., taken from the ledger after adjustment on December 31, 2017 the end of the fiscal year. Accounts Payable $...

Q:

just give me question No and its letter Question Completion Status Moving to another question will save this response. Question 1 Current Ratio can be calculated as: 0.75 p A. Current Liabilities -...

Q:

Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment office supplies expense Insurance expense Sales office salaries expense...

Q:

QUESTION ONE The following financial information relates to Cams Limited. Statement of Financial Position as at 31 December 2020 and 2021 2021 R 400 000 55 000 230 000 165 000 20 000 124 000 37 000...

Q:

Concord Limited had the following financial statements: Concord Limited Comparative Statement of Financial Position As at December 31 (1) 12023 Cash $12,000$7,800 Accounts receivable 9,4007,000...

Q:

Do you have the Income Statement? The triel balance of Pecilio Security Services, Inc. as of January 1, Year 7, had the following normal balances: 578,972 Cash Petty Cash Accounts Receivable Suppl...

Q:

Q1-Explain how the EBIT Chart works (inputs determining the outputs-the two lines on the chart Case Leahy Bread Company (LBC) in Cohen Finance Workbook, page 111( a 'caselette') SEE THE IS/BS MODEL &...

Q:

Please answer the below question. Must show work. Mendez Company provides the following information about its product: Targeted operating income $50,000 Selling price per unit 6.00 Variable cost per...

Q:

Hello. Can you help with this four question problem? Case PRIVATE EQUITY CASE: MERGER CONSOLIDATION The questions below COMBINE the Ohio & Maryland PT acquisitions as if they are a single c Learning...

Q:

As production manager, you are overseeing the shutdown of a production line for a discontinued product. Some of the equipment can be sold for a total price of $60,000. The equipment was originally...

Q:

Will the rate of actual growth have any effect on the rate of potential growth?

Q:

the statement of cash flows classifies cash recepits and cash payments as: incoming and outgoing activites, asset, liability, and stockholders equaity activies, investing, selling, and adminstrarive...

Q:

Study the dataset in terms of the kinds of Insights it can provide. Document some of the reportring information requirements that the users could have.