Which of the following statements is true?
A) Appropriations of retained earnings require journal entries, but restrictions on retained earnings are usually reported in notes to the financial statements.
B) No journal entries are needed to 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 are usually reported in notes to the financial statements.
A
You might also like to view...
Blockbuster Inc
Income Statement for year-ended Dec 31 ($000's) Year 1 Year 2 Sales 4,969,100 5,157,600 COGS 2,036,000 2,420,700 SG&A 2,390,600 2,532,400 Depreciation 279,000 246,600 Amortization of Intangibles 180,100 176,100 Operating Income (Loss) 83,400 -218,200 Interest Expense 116,500 78,200 Income Before Tax -33,100 -296,400 Income Tax Expense 45,400 -56,100 Net Income -78,500 -240,300 Referring to the Blockbuster financial statements, what is the change in ROA from Year 1 to Year 2? A) -8.40% B) -7.54% C) -2.18% D) 8.40% E) 23.72%
Spreadsheets containing data extracted from a relational database are called what?
A) Shadow data B) Ghost data C) Gray data D) Intelligent