Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Retained earnings represent: O cash available for dividends. O income which has not been paid out to stockholders as dividends. cash available for expansion and

Retained earnings represent: O cash available for dividends. O income which has not been paid out to stockholders as dividends. cash available for expansion and growth. O the amount initially invested in the business by stockholders. COMPANY COMPANY A COMPANY B COMPANY C ($ in millions) Net cash provided (used) from operating activities $91,056 $2,536 $(640) Net cash provided (used) from investing $(68,676) $(7,136) $(7,876) activities Net cash provided (used) from financing activities $(11,904) $6,800 $8,552 Which company appears to be using amounts from operating activities to purchase property, plant, and equipment (PP&E), repay debt, and pay dividends? Cathy Company recorded (and paid) salaries expense of $100,000 in 2021. However, additional salaries of $15,000 had been earned by employees, but not paid or recorded at December 31, 2021. After the appropriate accounts are adjusted for the year ending December 31, 2021, the balance in the Salaries Expense and Salaries Payable accounts will be: O Salaries Expense Salaries Payable $85,000 $15,000 Salaries Expense Salaries Payable $115,000 $0 Salaries Expense Salaries Payable $100,000 $15,000 Salaries Expense Salaries Payable $115,000 $15,000 Salaries Expense Salaries Payable $100,000 $0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basic Principles Of Accounting A Guide For Toatal Beginners

Authors: Simon Udeh Andrew

1st Edition

979-8861488440

More Books

Students also viewed these Accounting questions

Question

internationalization of business?

Answered: 1 week ago