What entry should be made

Assignment Help Financial Accounting
Reference no: EM132953175

Question - Company has revenues of 200000. Expenses of 120000, and dividends of 30000. When the income summary is closed to RE at the end of period, what entry should be made?

Reference no: EM132953175

Questions Cloud

What the sheridan would report actual gross profit : In Sheridan Company's income statement, they report gross profit of $62000 at standard. What the Sheridan would report actual gross profit
Compute the profitability index for each project : Project 1 requires an initial investment of $510,000 and has a present value of cash flows of $1,950,000.0. Compute the profitability index for each project
Compute project a accounting rate of return : Project A is expected to yield annual net income of $20,500 per year for the next five years. Compute Project A's accounting rate of return
Calculate the estate taxes payable to the federal government : Assuming there is a $5,000,000 estate, calculate the estate taxes payable to the federal government
What entry should be made : Expenses of 120000, and dividends of 30000. When the income summary is closed to RE at the end of period, what entry should be made
What is the variable overhead spending variance : In the most recent month, 175,000 items were shipped to customers using 7,400 direct labor-hours. What is the variable overhead spending variance
What is the amount to use as the annual sales : Winnebagel Corp. currently sells 30,000 motor homes per year at $45,000 each; What is the amount to use as the annual sales
What will be the change in the firm total monthly profits : The price per carton is $160, What will be the change in the firm's total monthly profits on a present value basis under these conditions
How many units they should sell to reach their profit goal : Mr. Tidy is considering three alternative strategies in order to reach the profit of $6,700,000 in 2021. How many units they should sell to reach their profit

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd