The trial balance of Barger Company at the end of the accounting period, immediately prior to recording closing entries, showed the following: DebitCreditCash 16,000 Land 30,000 Notes Payable 19,400 Common Stock 9,000 Retained Earnings 14,000 Service Revenue 43,000 Expenses 38,400 Dividends 1,000 Total$85,400 $85,400 What will the balance of the retained earnings account be after the closing entries are recorded?
A. $17,600
B. $18,600
C. $4,600
D. $3,600
Answer: A
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A company had net income of $252,000 . Depreciation expense is $26,000 . During the year, accounts receivableand inventory increased by $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreasedby $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000 . How much was thenet cash flow from operating activities on the statement of cash flows
using the indirect method? a. $217,000. b. $224,000. c. $284,000. d. $305,000.
Answer the following statement(s) true (T) or false (F)
1. During Kelly’s expatriate assignment, she was paid half in U.S. dollars and half in Yen. This is an example of a balance sheet approach. 2. Gabrielle, who lives in England, took an expatriate assignment to Japan. During her assignment, she was paid in Yen. This is an example of a balance sheet approach to expatriate compensation. 3. Amelia was given one check to cover her pay while on a 3-month expatriate assignment. This is an example of a lump sum approach to expatriate compensation. 4. When Ava accepted an expatriate assignment, the organization continued to pay her at a rate equivalent to her home-country salary but also gave her an allowance to help with other expenses. This is an example of a lump sum approach to expatriate compensation. 5. When Isabella accepted an expatriate assignment, the organization paid her based on the host-country’s norms. This is an example of a localization approach to expatriate compensation. 6. Due to government laws, many of the European Union countries have to provide more benefits than in the United States.
If a project's net benefit computed on a present value basis-that is, NPV-is positive, then:?
A. ?its internal rate of return is equal to the required rate of return. B. ?it is considered a risk-free project. C. ?it is considered an acceptable investment. D. ?the required rate of return is not attainable. E. ?its payback period is more than the maximum cost-recovery time established by the firm.
A technique for enabling large stockholders to exercise control in a corporation is
a. voting trusts. b. cumulative voting. c. quorum control. d. pre-emptive rights.