If the adjusting entry to transfer Net Income and Retained Earnings into the owner’s capital account is made prior to the end of the year, the Balance Sheet shows
A. Retained Earnings
B. Net Income
C. Both Net Income and Retained Earnings
D. None of the above because the Net Income and Retained Earnings have been transferred into capital
C
Business
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According to goal theory, a quota system will work as long as management sets a specific, achievable, and difficult goal.
a. true b. false
Business
Which of the following is a characteristic of a graduated payment loan and generally NOT found in a traditional level payment loan?
A. Simple interest rate. B. Prepayment penalty. C. Negative amortization. D. Adjustable inter rate.
Business