Question
18) When using the trial balance worksheet to prepare the statement of retained earnings, what information is used from the trial balance worksheet? A) net
18) When using the trial balance worksheet to prepare the statement of retained earnings, what information is used from the trial balance worksheet? A) net income or net loss B) revenues and expenses C) beginning balance of retained earnings and dividends D) cash balance
19) The balance sheet reports the retained earnings balance at the end of a fiscal year. What is the source of this ending balance of retained earnings? A) Trial Balance Worksheet B) Adjusted Trial Balance C) Unadjusted Trial Balance D) Statement of Retained Earnings
20) The statement of retained earnings reports a company's net income or net loss for a period of time. What is the source of the amount of net income or net loss? A) Balance Sheet B) Cash Dividend Statement C) Trial Balance Worksheet D) Income Statement
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