Which of the following statements is true?
(A) Both appropriations and restrictions of retained earnings require journal entries.
(B) Restrictions on retained earnings must be journalized, but appropriations are usually reported in notes to the financial statements.
(C) No journal entries are needed to appropriate or restrict retained earnings.
(D) Appropriations of retained earnings require journal entries, but restrictions on retained earnings are usually reported in notes to the financial statements.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Which of the following statements is true? (A) Both appropriations and restrictions of retained earnings require journal entries. (B) ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The Japan Airlines CEO's behavior has been unordinary according to usual industry practices. He doesn't have a corporate jet, as many CEO's do. He also knocked down his office walls and takes a bus to work.
Answers (1)
The green giant has a 5% profit margin and a 40% dividend payout ratio. the total asset turnover is 1.40 and the equity multiplier is 1.50. what is the sustainable rate of growth?
Answers (1)
What output returns the Boolean value FALSE? A) 3 B) 2 C) 1 D) 0
Answers (1)
Digitec Company has recently decided to design and manufacture a laptop that retails for under $50, in an effort to make IT available to people in places like rural Africa and rural India. This is known as which of the following types of strategy? a.
Answers (1)
Lowery Company hasn't received payment upon the maturity date on a $6,000 note from Basket Corporation. Lowery expects to collect the note eventually. Assuming no accrual of interest of $100 has been made, journalize the appropriate entry?
Answers (1)
New Questions in Business
Rodney Halpern works in the marketing department of a major manufacturing firm. Much of his job involves managing the movement of materials, parts, and information from suppliers to his firm.
Answers (1)
A car manufacturer offers either $2,000 cash back or zero percent financing for 5 years. A rational consumer will always take the cash back because money received today is worth more than money received in the future. true/false
Answers (1)
Because of its effect on the amount of capital per worker, in the short term an increase in the working population is likely to a. reduce productivity. Other things the same, this decrease will be larger in a rich country. b. reduce productivity.
Answers (1)
For 2020, Cullumber Company reported beginning total assets of $200,000 and ending total assets of $340,000. Its net income for this period was $40,000, and its net sales were $297,000. Compute the company's asset turnover for 2020.
Answers (1)
A politician employs illegal immigrants for housekeeping services. A nearby restaurant also employs illegal immigrants. The restaurant is fined, but the politician does not suffer any consequences. How would social location explain this?
Answers (1)