Explain why the Dividends account is closed directly to the Retained Earnings account.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
Dividends paid to stockholders are not considered an expense of the business and therefore ar...View the full answer
Answered By
Ashwani Ashwani
I have done my graduation (BSc Mathematics Honours) from University of Delhi and MSc Applied Mathematics from IIT - Mandi.
I also secured AIR-70 in CSIR- NET Exam in 2019.
Now I pursuing my PhD in Mathematics at IIT - Mandi.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Question Posted:
Students also viewed these Accounting questions
-
Three individuals organized Pest Away Corporation on January 1, 2012, to provide insect extermination services. The company paid dividends of $10,000 during the year. At the end of 2012, the...
-
Three individuals organized Pest B-Gone Professionals on January 1, 2014, to provide insect extermination services. The company paid dividends of $10,000 during the year. At the end of 2014, the...
-
Lamonda Corp. uses a job order cost system. On April 1, the accounts had the following balances: The following transactions occurred during April: (a) Purchased materials on account at a cost of...
-
Find the exact value of sin(x - y) if sin(x) = 3T 3T T
-
What are the primary objectives that consumer promotions can deliver?
-
During an etiquette class, you walk slowly and steadily at 0.20 m/s for 2.5 m with a 0.75 kg book balanced on top of your head. How much work does your head do on the book?
-
\(\{45,245\}\) Find the greatest common divisor of the given set of numbers.
-
Questions 1 through 8 are typically found in questionnaires used by auditors to obtain an understanding of internal control in the acquisition and payment cycle. In using the questionnaire for a...
-
Years PVA Present value time rate 1-10 3,000 0 10 6.00% 11-20 $5,000.00 $39,542.38 10 6.00% 21-30 $10,000.00 $136,718.36 10 6.00% 31-40 $15,000.00 $376,649.71 10 6.00% Monthly retirement payment...
-
Pierson Products manufactures furniture, primarily for institutional use, such as for furniture rental companies, college dorm rooms, and budget hotel and motel chains. The companys Verne Valley...
-
What type of accounts are referred to as permanent or real accounts? What is meant by these terms?
-
Which accounts appear in a company's after-closing trial balance? How do these accounts differ from those reported in an adjusted trial balance?
-
Propose structures for molecules that meet the following descriptions: (a) Contains two sp2-hybridized carbons and two sp3-hybrized carbons (b) Contains only four carbons, all of which are...
-
The foreign exchange carry trade has historically produced attractive investment returns. Explain how the carry trade can be implemented, discuss its performance and explain why you think it has...
-
The accountant at Intellectual Property Inc. gathered the following selected accounting information: 2019 2020 Cash. $ 35,000 $33,000 Short-term investments 28,000 29,000 Accounts receivable (net)....
-
At ???? = 2 . 8 0 ???? , a particle moving with a constant velocity is located at ???? = 1 . 4 0 ???? . At ???? = 4 . 8 0 ???? , the particle is located at ???? = 7 . 9 0 ???? . Determine the...
-
Refer to point 1 entitled "repair of damaged harbour wall". Discuss how the R132 million would be recognised in the financial statements of SSSS as at 30 September 2012. You should apply the relevant...
-
An electrician is wiring new electrical outlets in a house and has stored a 4 9 . 5 - m length of copper wire outside where the temperature is 1 1 . 9 \ deg C . When the wire is brought inside and...
-
Define accrued salaries.
-
A company produces earbuds. The revenue from the sale of x units of these earbuds is R = 8x. The cost to produce x units of earbuds is C = 3x + 1500. In what interval will the company at least break...
-
Determine whether each of the following companies is best suited for a job order cost system, a process costing system, or both. a. C. Erickson & Sons, Inc. (a construction company with multiple job...
-
Determine whether each of the following companies is best suited for a job order cost system, a process costing system, or both. a. C. Erickson & Sons, Inc. (a construction company with multiple job...
-
Match the business with the appropriate cost system(s) for that business using the number of the cost system where 1= job order costing, 2 = process costing, and 3 = activity-based costing. a....
-
Managerial accounting is used by Blank______. Multiple choice question. all company managers investors managerial accountants only creditors
-
Name a few reasons for combining enterprise rankings by different measures, such as revenue and profits Group of answer choices Enterprise ranking by revenue just indicates the size of the companies...
-
Identify the sentence in which the month and day are written correctly for a general formal context. Multiple choice question. On the second Friday in December, the company will hold its annual...
Study smarter with the SolutionInn App