Illustrate what happens to the retained earnings account

Assignment Help Business Management

Reference no: EM1386901

Q. Explain how do I do this problem? Davis Corporation was started on January 1, 2012. During the month of January, Davis earned $4,600 of revenue and incurred $3,000 of expense. Davis closes its books on December 31 of each year.
Required

a. Find out the balance in the retained Earnings account as of January 31, 2012.

b. Comment on whether retained earnings are an element of financial statements or an account.

c. Illustrate what happens to the Retained Earnings account at the time expense are recognized?

Reference no: EM1386901

Questions Cloud

Explain how does this reduce the costs of transacting : English is becoming the usual language for international transactions, even if the language of neither country is English. Explain how does this reduce the costs of transacting?

Write program to display companys payroll report in list box : Write down the program to display companys payroll report in list box. Program must read each employee's name, hourly rate, and hours worked from file and produce report.

A work cell is required to make eighty computerized : A work cell is required to make 80 computerized diagnostic assemblies (for installation into hybrid automobiles) each day. The cell currently works an eight hour shift, of which seven hours is available for productive work

Impact of campaign film on attitude toward political person : The impact of campaign film on attitudes toward a political candidate was investigated. Prior to showing the film, the attitudes of 15 people toward the candidate were assessed using a political likability scale.

Illustrate what happens to the retained earnings account : Comment on whether retained earnings are an element of financial statements or an account. Illustrate what happens to the Retained Earnings account at the time expense are recognized?

Aristotle ideas about logic : Critically discuss Aristotle's ideas about logic and how did others classify his writings? What does Aristotle mean by the term 'logic' and what types of questions did he ask?

Provide your customers with a tiered service system : If you owned your own business, would you provide your customers with a tiered service system? Why or why not?

Explain how long will each order last : Explain how long will each order last (in months) if the manager uses the Economic Order Quantity? Assume which the lead time for the pots is 1 month. Illustrate what is the Reorder Point? Verbally, interpret the meaning of this Reorder Point.

What is the index of refraction for yellow light : What is the highest speed with which an 1180-kg car can round a turn of radius 75.00 m on a flat road if the coefficient of static friction between tires and road is 0.80.

User Account

All Pages