Comment on whether retained earnings are an element of, Ask an Expert

Management Studies

Q. Explain how do I do this problem? Davis Corporation was started on January 1, 2012. During the month of January, Davis earned $4,600 of revenue and incurred $3,000 of expense. Davis closes its books on December 31 of each year.
Required

a. Find out the balance in the retained Earnings account as of January 31, 2012.

b. Comment on whether retained earnings are an element of financial statements or an account.

c. Illustrate what happens to the Retained Earnings account at the time expense are recognized?

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M9352151

Have any Question?Write your Review or question?

Related Questions in Business Management

Discuss the link between strategy and performance select an

Discuss the link between strategy and performance. Select an industry and discuss 2 rival firms in that industry and how they illustrate the difference between strategy and performance.

In what ways can self-knowledge lead to more effective

In what ways can self-knowledge lead to more effective managerial work?

What kind of issues to managers of virtual teams face in a

What kind of issues to managers of virtual teams face in a business environment?

Jamie dimon changed the business model for jpmorgan chase

Jamie Dimon changed the business model for JPMorgan Chase in 2008. In the process, the bank gave enormous trading authority to one individual. What are the ERM strengths and weaknesses of this strategy?

Under the behavioral school of management what would you

Under the behavioral school of management, what would you consider as the "red tape"?

In some organizations change implementation is carried out

In some organizations, change implementation is carried out under the guise of being a participatory effort when, in fact, the implementation has been carefully choreographed (micromanaged). What are some lasting side ef ...

What are the differences between consumers of soda cola and

What are the differences between consumers of soda cola and those of smartphones

Many of the relationships in our macroeconomic models are

Many of the relationships in our macroeconomic models are linear; two variables are related by the equation for a straight line y = mx+b. What is the relationship between (i) the sign of the slope m and (ii) the cyclical ...

I downloaded oracle virtual box running the software kali

I downloaded Oracle Virtual BOX, running the software KALI and need help with these two questions. a. For which hypervisors does Kali Linux offer custom images? What tools must be added to a VirtualBox Kali Linux VM to p ...

How does the potential barriers to effective strategic

How does the potential barriers to effective strategic planning in the health care environment differ from barriers encountered in the general business world?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert