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When a DD Form 362 Statement of Charges Cash Collection Voucher has been completed the original is retained by?
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∙ 12y ago
A copie is retained by the supply, one to PBO, one to the soldier, one to finance.
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∙ 12y ago
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Which financial statement summarizes the changes in retained earnings?
Stetement of retained earnings summarizes the changes occured in retained earnings from opening balance to closing balance.
Which type of financial statement includes information about retained earnings and dividends?
A retained earnings statement contains information about retained earnings and dividends. Some companies also refer to this a profit and loss statement.
Do Dividends effect retained earnings?
Yes, dividends will have an impact on the retained earnings. It is important to note that dividends are considered to be a distribution of income and do not appear on the income statement. They will however be reduction in retained earnings on the statement of retained earnings or statement of changes in shareholders' equity (IFRS).
What is the statement of retains earning and what information does it provide?
The statement of retained earnings is a business statement that illustrates the total retained earnings by a company at the end of a period. Basically the statement starts with retained earnings from the previous period, then adds any gains (on investments) and subtracts any losses (dividends declared, goodwill, discontinued operations). You are then left with the retained earnings for the current period.
When preparing a retained earnings statement the beginning retained earnings balance can always be found?
in journal
Why does retained earnings go on an income statement?
Problem: Retained earnings is a balance sheet account. Therefore, you might not expect it to appear on an income statement. Explanation: A complete set of financial statements includes an income statement, a balance sheet, a statement of cash flows and a statement of retained earnings. But the statement of retained earnings can be very short (sometimes only 3 lines). As a convenience, it is frequently presented at the bottom of the income statement (Net Income + Beginning Retained Earnings - Dividends paid = Ending Retained earnings). One reason the Statement of Retained Earnings may be included on the Income Statement is that while the Income Statement only provides information about an entity's Net Income for one year, the Retained Earnings Statement provides the cumulative Income (that was not paid out in Dividends to stakeholders) since the entity began. * Net Income shows the growth of the business due to Profit for one year. * Retained Earnings show the growth of the business due to Profit since it began.
The Retained Earnings Statement should be prepared?
after income statement, before the balance sheet
What order are financial statement prepared?
Income Statement, Retained Earnings Statement, Statement of Equity, Balance Sheet, and then Statement of Cash Flows.
Retained earnings appear on the income statement?
No. Retained Earnings appears in the Equity section of the Balance Sheet.
Does retained earnings go on the income statement?
Retained earning is that part of profit which is not distributed to share holders so it is not part of income statement rather it is part of balance sheet.
What does the statement of changes in retained earnings consist of?
The statement of changes in retained earnings, also known as the statement of earned surplus, is documentation that only details the changes in earned capital: the net income and the dividends for a given period.
Is retained earnings an asset?
No, retained earnings comes after Net Income on the Income Statement. The retained earnings is less than the Net Income if a dividend is paid out.
