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Retained earnings at the end of the period is equal to?
beginning retained earnings +net income+dividends
What does a post-closing trial balance contain?
Usually, a post-closing trial balance is prepared after the closing process; therefore. it contains balance sheet accounts. Only balance of retained earnings is different, the rest are the same of balance sheet or adjusted trial balance. The retained earnings are equal the retained earnings in the retained earnings statement.
What are the 2 parts of stockholders' equity divided into?
The two main categories of Stockholder's Equity are Capital Stock and Retained Earnings. Capital stock is the initial amount of money invested into the firm by its owners. The way the capital stock is structured depends on whether the firm is incorporated or not, and if it is, whether the corporation is publicly or privately held. Retained earnings is the cumulative income a company earns and decides to invest back into the firm (as opposed to paying it out as dividends to the owners). In any given year, Retained Earnings is equal to the last year's retained earnings plus current year net income, minus any dividends paid out to the owners.
Is net earnings equal to net income?
I believe so. Net Income is equal to the income that a firm has after subtracting costs and expenses from the total revenue.
Is retain earning account is equal to profit or loss?
Profits and losses are determined via the income statement. When you close out the books for the year that profit or loss gets closed and becomes part of the retained earnings. A loss would decrease retained earning and a profit would increase it. Loosely put, the retained earnings account is a cummulation of all the profits and losses over the years (not counting any other things that affect the bottom line like dividends paid out and such)
Is a company earnings are the same as its revenue?
A company's earnings are equal to revenue less costs of production over a given period of time.
Do quarterly tax payments have to be equal?
No, quarterly tax payments do not have to be equal. They are based on your estimated income for the year, so each payment can vary depending on your earnings.
What does revenue divided by income equal?
As far as I know, nothing. Revenue and Income are sometimes interchangeable. Revenue refers to money made by a business (ALL MONEY) and generally just the term Income does too. There are other terms to consider.Revenue (or Income)Gross Income (the amount of money a company has AFTER COST OF GOODS SOLD are deducted)Net Income (the amount of money the company has earned after all expenses have been paid, taxes, etc.)Retained Earnings (the amount the company keeps after any dividends are paid on stock if applicable)Net Income divided by Revenue equals Net Profit MarginLet me give a few quick examples of the terms:Say you sale a motorcycle for $15,000.$15,000 is your Revenue (or income)You paid $7.500 for the bike, this is the Cost of Goods SoldGross Income would be equal to$15,000 (Revenue) - $7,500 (COGS) = $7,500 (Gross Income)Net Income after all Taxes and Expenses are paid, to keep this figure simple we will only use one expense. Say your paid commission of 25% to the salesman of the original $15,000$7,500 (Gross Income)- $3,750 (expenses)= $3,750 (Net Income)We will assume that there are no dividends to pay, therefore the $3,750 is also your retained earnings, your profit on the sale of the bike.
Formula for operating income?
Operating income is equal to total revenues minus cost of goods sold, labor, and general expenses. Operating income is called Earnings Before Interest and Taxes. What is not included in expenses to be calculated in operating income is one time expenses, legal settlements, or adjustments.
What is the part time unemployment compensation formula for Florida?
The formula for Florida apparently does not depend on whether you worked full or part time. It depends on total time and earnings thus: It involves the first 4 quarters of the last 5 quarters from the time you file. This is known as the "base period". You had to have worked in at least 2 quarters in that base period. The total earnings you made in the base period have to be 1 1/2 times the earnings in the quarter with the highest earnings and the total for the base period had to equal or exceed $3400. See the Related Link below for more details.
Net income is equal to your gross income plus taxes?
That would do it for me, but unfortunately for me my net income is equal to my gross income minus taxes.
What is the effect of a cash purchase of equipment on equity?
A cash purchase of equipment does not directly affect equity; instead, it impacts the balance sheet by decreasing cash assets while increasing fixed assets. This transaction does not alter overall equity since both assets remain equal in value. However, over time, the equipment may affect equity indirectly through depreciation, which reduces net income and, subsequently, retained earnings.
