What effect will the following closing entry have on the retained earnings account?Service Revenue18,800 Interest Expense 750Operating Expenses 15,500Retained Earnings 2,550
A. Retained earnings will decrease by $2,550.
B. Retained earnings will increase by $2,550.
C. Retained earnings will remain unchanged.
D. Retained earnings will be transferred to the income statement.
Answer: B
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Indicate whether this statement is true or false.
On May 1, Sellers Marketing Company received $1,500 from Franco Marcelli for a marketing campaign effective from May 1 of the current year to April 30 of the following year. The Cash receipt was recorded as unearned fees and at year-end on December 31, $1,000 of the fees had been earned. Assuming adjustments are only made at year-end, the adjusting entry on December 31 would be:
A. A debit to Fees Earned and a credit to Unearned Fees for $500. B. A debit to Unearned Fees and a credit to Cash for $500. C. A debit to Fees Earned and a credit to Cash for $500. D. A debit to Unearned Fees and a credit to Fees Earned for $1,000. E. A debit to Fees Earned and a credit to Cash for $1,000.
Homosexuals who support gay rights may not be discharged for their political viewpoints
Indicate whether the statement is true or false
Which of the following is a retention responsibility of line management?
A. Face-to-face resolution of conflict B. Performance feedback to subordinates C. Management and organizational development D. Compensation and benefits