Multiple Choice
Which of the following statements is true?
A) Appropriations of retained earnings require journal entries, but restrictions on retained earnings do not.
B) No journal entries are needed to either appropriate or restrict retained earnings.
C) Both appropriations and restrictions of retained earnings require journal entries.
D) Restrictions on retained earnings must be journalized, but appropriations do not need to be journalized.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: A company originally issued 10,000 shares of
Q10: Which of the following actions could increase
Q11: Which of the following is true of
Q12: Revival Corporation's annual report is as follows.
Q13: Lerner Company had the following transactions in
Q16: Earnings per share is calculated as net
Q17: Peterson Company issued 4,000 shares of preferred
Q18: Orleans Company was incorporated on January 1,
Q19: Moretown Company had the following transactions in
Q111: Preferred stockholders receive a dividend preference over