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Accounting,Business & Finance See all
Accounting,Business & Finance,Economics,Engineering,HR Management,Math Hide all
Teaching Since: Apr 2017
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Education

  • MBA, Ph.D in Management
    Harvard university
    Feb-1997 - Aug-2003

Experience

  • Professor
    Strayer University
    Jan-2007 - Present

Category > Accounting Posted 11 Jul 2017 My Price 5.00

Current liabilities

Current liabilities are

  1. always equal to the difference between assets and owners' equity
  2. all liabilities which were assumed in the current year
  3. only those which match with current assets
  4. bad things
  5. all liabilities which are expected to be paid within one year

 

When a business pays a dividend, which of the following occurs?

  1. An asset account decreases and an owners' equity account decreases.
  2. An expense account increases and an asset account decreases.
  3. An asset account decreases and a liability account increases.
  4. An asset account increases and an owners' equity account increases. E) None of these happen

 

If the beginning and ending balances in retained earnings are $20,000 and $34,000, respectively, and dividends during the year are $40,000, then net income for the year is

  1. $54,000
  2. $40,000
  3. $34,000
  4. $64,000
  5. None of he above

Answers

SuperTutor
(15)
Status NEW Posted 11 Jul 2017 07:07 AM My Price 5.00

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file 1499759287-Solutions file.docx preview (51 words )
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