Which of the following statements is true?
A) Appropriations of retained earnings require journal entries,but restrictions on retained earnings are usually reported in notes to the financial statements.
B) No journal entries are needed to appropriate or restrict retained earnings.
C) Both appropriations and restrictions of retained earnings require journal entries.
D) Restrictions on retained earnings must be journalized,but appropriations are usually reported in notes to the financial statements.
Correct Answer:
Verified
Q184: Washington Enterprises had net income for 2016
Q190: Revival Corporation provides the following information.
Q192: Flowers,Inc.had beginning retained earnings of $125,000 on
Q244: The statement of stockholders' equity has less
Q245: The statement of stockholders' equity does not
Q250: What is a prior-period adjustment? How and
Q255: The statement of stockholders' equity _.
A) reports
Q257: Regarding the statement of stockholders' equity,which of
Q260: Thomas Business Supply reported a negative amount
Q271: A higher price/earnings ratio signifies a higher
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