How do revenues for a period relate to the beginning and ending balances in retained earnings?
A) Revenues will increase the beginning balance of retained earnings for the period.
B) Revenues will decrease the beginning balance of retained earnings for the period.
C) Revenues less expenses will either increase or decrease the beginning balance of retained earnings for the period.
D) Revenues less expenses will either increase or decrease the ending balance of retained earnings for the period.
12) Which of the following best describes a liability?
A) Liabilities are a form of share capital.
B) Liabilities are future economic benefits to which a company is entitled.
C) Liabilities are accounts receivable of the company.
D) Liabilities are economic obligations to creditors to be paid at some future date by the company.
13) Shareholders' equity for Raisin Corporation on January 1, 2010 and December 31, 2010 were $60,000 and $75,000, respectively. Assets on January 1, 2010 and December 31, 2010 were $115,000 and $105,000, respectively. Liabilities on January 1, 2010 were $55,000. What is the amount of liabilities on December 31, 2010?
D) indeterminable from the given information
A) always affect net income
B) are distributions to shareholders of assets (usually cash) generated by net income
C) are expenses
D) are distributions to shareholders of assets (usually cash) generated by a favourable balance in retained earnings
15) A form of the accounting equation can be stated as Assets - Liabilities = Share capital + Retained earnings.
16) The accounting equation must always be in balance.
17) Liabilities are often referred to as "outsider claims" and owners' equity as "insider claims" to assets.
18) Shareholders' equity is often referred to as "net assets" and represents the residual amount of business assets that can be claimed by the owners.
19) The basic component of share capital is retained earnings.
The most common antigens are ________. a. nucleotides b. triglycerides c. steroids d. proteinsJun 23 2021
True or False?In Exercises 77-80, determine whether the statement is true or false. If it is false, explain why or give an example that shows it is false.If converges, thenAug 15 2021
Methylamine, , is a weak base.If the pH of a 0.065-M solution of the amine is 11.70, what is the value of KbJul 22 2021
You have $18,750 you want to invest for the next 30 years. You are offered an investment plan that will pay you 9 percent per year for the next 15 years and 13 percent pe...Jul 05 2021
Question 25 A A service level of 99% implies that the probability of stock-out is 1%. True FalseApr 19 2021
The aggregate demand curve indicates the relationship betweena. the interest rate and the amount of loanable funds demanded by borrowers.b. the natural rate of unemployme...Apr 23 2021
Place the following in order for a bankruptcy proceeding: a. Order of reliefb. Collection of bankrupt's estatec. List of creditorsd. Petitione. Evaluation of claimsf. Vo...Aug 14 2021
The benzylammonium ion (C6H5CH2NH3) has pKa = 9.33, and the propylammonium ion has pKa = 10.71. Which is the stronger base, benzylamine or propylamine? What are the pKb’s...Jun 21 2021
What is the price of a three-year, default-free security with a face value of $1000 and an annual coupon rate of 6%? What is the yield to maturity for this bond?Maturity ...Jun 06 2021
The Miami Marlins have signed outfielder Giancarlo Stanton to a record-breaking contract. The contract calls for Stanton to get $325 million over a 13-year period. This i...Dec 01 2019