What is the opening balance of retained earnings and what does it indicate? Is it the the same as beginning balance? & What does ending balance indicate as well? Please explain. Thank you

Q: How are restrictions of retained earnings reported?

A:

Q: The income statement is a change statement. Explain what is meant by this

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: What do the Retained earnings represent?

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

Q: at is a balance sheet? Why is it useful? What is the difference between a pro forma balance sheet…

A: The financial information is very important now days and it is very important to give the…

Q: difference between Gross Earnings and Net Earnings

A: Gross earnings and Net earnings are two terms used in financial accounting while computation of the…

Q: tio C. Interest Coverage Ratio D. All are correct

A: Long term solvency is the capacity of the business to meet long term debt obligations

Q: Define the term Temporary earnings.

A: Earnings: The term earnings refer to the amount of money the company had earned during a particular…

Q: what are the importance of tral balance in accounting?

A: Trial balance is a statement of all the general ledger account balances at a specific point in time,…

Q: “The retained earnings account is a link between the income statement and the balance sheet.”…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: What does the balance sheet statements summarize?

A: This financial statement reports a company’s resources (assets) and claims of creditors…

Q: Why does a balance sheet balance (assets = Liabilities + OE)?

A: Accounting is done on double entry system, in which we book any financial transaction into books at…

Q: What impact does an increase in revenue have on retained earnings?

A: Revenue, almost referred to as gross sales and it affects retained earnings since any increases in…

Q: Discuss the relationship between profit and ethics.

A: Ethics:   It is a set of moral principle followed by an individual or a company. It is not same for…

Q: What is retained earning

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

Q: understanding the structure of balance sheets and income statements.

A: Income statement:   It is a financial statement prepared by a company that reports revenues and…

Q: What does it mean that FIFO has a balance-sheet focus and LIFO has an income-statement focus?

A:

Q: In what financial statement dividend payment will be recorded?

A: Financial statements means statements that are prepared at the end of the period in order to analyse…

Q: explain mean reversion in earnings and how the accruals component of earnings aff ects thespeed of…

A: Earnings mean reversion means earnings of the company come to a normal level if the earnings for…

Q: Do the terms 'debit' and 'credit' signify increase or decrease or can they signify either? Explain.

A: Debit and credit are fundamental accounting terms used to record financial transactions in…

Q: Net earnings can be greater than gross earnings

A: The gross earning is calculated by deducting the cost of goods sold from the sales revenue of the…

Q: How can I know what type of account the Dividends account is?

A: Dividend is the amount of return that the shareholders of a company receive from the profits.

Q: Does income approach convert future amounts to current amounts?  2. Is balance of payment accounts a…

A: In business, financial management is the practice of handling a company's finances in a way that…

Q: me statement represents the basic accounting equation. True or false?

A: Solution: Basic accounting equation is that Assets are equal to the sum of Liabilities + equity.…

Q: What does financial statements provides?

A: Financial accounting: Financial accounting is the process of evaluating the business activities of…

Q: Under IFRS, liabilities and shareholders' equity on the balance sheet usually appear in which order?…

A: IFRS, or International Financial Reporting Standards, is a global accounting framework used by…

Q: What does the term 'accrual accounting principle' mean

A: The accrual basis of accounting is the process of recording revenues as they are earned and expenses…