Capital resulting from net income should be placed in what account?
A) Retained earnings
B) Net income from the business
C) Capital stock
D) Appropriated retained earnings
Correct Answer:
Verified
Q35: Which of the following is TRUE of
Q36: A corporation has $250,000 in retained earnings.
Q37: Debits to Retained earnings do not result
Q38: Retained earnings represent:
A) excess cash.
B) net losses
Q39: Prior-period adjustments are corrections to:
A) corrections to
Q41: Retained earnings appropriation are a restriction voted
Q42: Which of the following is TRUE of
Q43: A restriction of retained earnings for a
Q44: Do Total retained earnings increase, decrease or
Q45: Gains and losses from the disposal of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents