The purpose of a statement of retained earning is to ?

Q: What do the Retained earnings represent?

A: Financial Statement:   They are annual reports of an organization summarizing the financial…

Q: production cost is liability or equity?

A: Production or cost of the product shall refer to the cost incurred by the business of making the…

Q: What does comprehensive income provides?

A: Net income: The bottom line of income statement which is the result of excess of earnings from…

Q: What is a description of loss of self-employment income statment? Give example

A: When the expense exceed the revenue then it result in loss. Self employment means the person is not…

Q: What is the quantitative disclosure of lessee?

A: Lease Agreement:   It is a contract between the owner of the asset (lessor) and the person who uses…

Q: What are the two ways that other comprehensive income may be displayed (reported)?

A: Income:   It refers to the earnings of the organization from their business activity for a period of…

Q: In general, what is the concept of earnings and profit designed to represent?

A: When addressing the bottom line of a company's income statement, the concept of earnings is most…

Q: Net Income is transferred to the​ ____

A: Financial statements includesIncome statementBalance sheet Cash flow statementFinancial statements…

Q: Why profit shows as liability and loss shows as asset?

A: The assets and expenses have the debit normal balance. The liabilities and revenue have credit…

Q: What is meant by a ‘statement of affairs’? How can the profit or loss of atrader be ascertained with…

A: What is meant by a ‘statement of affairs’?    It refers to a statement of assets and liabilities of…

Q: How do I determine net income

A: Net Income/Loss earned during a particular period is computed by drawing the statement of Income for…

Q: What is an accrued expense? Provide an example.

A: Accrued expense: This is the expense incurred but not yet paid. It is treated as liability until the…

Q: What is retained earning

A: The retained earnings which is also known as ploughed back profit is expalined…

Q: what is the difference betwwen classifying an expense by nature or function?

A: The costs that are incurred to earn revenues in the process of operating activities of the business…

Q: Explain the components of non operating income.

A: Non Operating Income is that part of an organisation's income that is obtained from activities not…

Q: What are the unofficial earning measures of revenue?

A: Unofficial earning measures of revenue are often called as non-GAAP (Generally Accepted Accounting…

Q: discuss the advantages and disadvantages of residual income

A: INTRODUCTION: The excess of net income over the required minimum return is known as residual income.…

Q: What is net income, comprehensive income, and retained earnings balance?

A: According to the question given, we need to compute the net income, comprehensive income, and,…

Q: What is the difference between a traditional format income statement and a contribution format…

A:

Q: Which of the following best describes revenue?

A: In simple accounting term revenue is the amount which company earn by selling goods or providing…

Q: What is comprehensive income?

A: Definition: Comprehensive Income: When there is a change in the total stockholder's equity from all…

Q: what are contrast economic concepts of income from reported income?

A: As per the income statement, the reported income refers to the income left after subtracting the…

Q: What does the gross profit percentage measure, and how is it calculated?

A: Gross margin percentage: The percentage of gross profit generated by every dollar of net sales is…

Q: Should options given as part of compensationpackages be reported on the income statement asan…

A: Stock options are recognized as a compensation expense in the financial statements of a company.…

Q: Can ownership structure affect earning management?

A: Corporate finance is referred as the decision of the firm to take capital investments and other…

Q: What is the difference between direct and indirect expenses?

A: Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for…

Q: What would be the difference between the CMO with and without the accrual class?

A: A collateral mortgage obligation is a financial instrument that is backed up by the mortgage to be…

Q: How would you describe the accounting profit?

A: The answer is about the accounting profit:

Q: What is meant by net income and net loss?

A: When the company has more amount of revenue it would have positive income whereas when company has…

Q: where's the total net income under scenario b?

A: Gross Profit = Sales - Manufacturing Expenses Net Income = Gross Profit - Non Manufacturing…