Multiple Choice
The appropriated retained earnings can be returned to the unappropriated retained earnings account
A) at year end.
B) the first day of the new year (reversing entry) .
C) when the directors decide to restrict its use.
D) when the appropriation has served its purpose.
Correct Answer:
Verified
Correct Answer:
Verified
Q43: Match the terms with the definitions.<br>-A restriction
Q44: Typically, the only credit to the retained
Q45: Stock dividends typically are stated as a
Q46: Match the terms with the definitions.<br>-A dividend
Q47: Capital resulting from the retention of earnings
Q49: The two major sources of capital for
Q50: Prepare appropriate general journal entries for each
Q51: If a balance sheet is prepared between
Q52: The balance of the income summary account
Q53: The effect of a retained earnings appropriation