Hi I have a couple of questions. Please answer clearly and thoroughly. If you paste any images I just ask that the print is readable and not to small and faint in color.1) Does the Income Statement contain ONLY revenue and expense accounts? If not what other accounts are on the Income Statement? And please state if they are either DR or CR accounts and Real or Nominal.2) How is Dividends a liability? I thought they only appeared on the Statement of Retained Earnings.3) Also how many Dividend type accounts are there? For examples I have heard about Dividends Delivered for example.4) Please tell me if the different Dividends are CR or DR and Real or Nominal and if all of them are liabilities and what statement(s) do they appear on.
Hi I have a couple of questions. Please answer clearly and thoroughly. If you paste any images I just ask that the print is readable and not to small and faint in color.
1) Does the Income Statement contain ONLY revenue and expense accounts? If not what other accounts are on the Income Statement? And please state if they are either DR or CR accounts and Real or Nominal.
2) How is Dividends a liability? I thought they only appeared on the Statement of Retained Earnings.
3) Also how many Dividend type accounts are there? For examples I have heard about Dividends Delivered for example.
4) Please tell me if the different Dividends are CR or DR and Real or Nominal and if all of them are liabilities and what statement(s) do they appear on.
Expert Answer
Related Accounting Q&A
Q: Exercise 14-16 On January 1, 2017, Novak Company makes the two following acquisitions. 1. Purchases ...
A: a. (1) Prepare journal entry to record the purchase of land:
Q: Bonds payable—various issues On July 1, 2016, $12 million face amount of 7%, 10-year bonds were issu...
A: Bonds are the debt instruments which are issued by corporates against certain sum of money and carry...
Q: In 1994, General Mills Incorporated, a $6 billion consumer goods company, acquired Colombo Frozen Yo...
A: 1. Colombo Frozen Yogurt business was mainly sale of soft-serve frozen yogurt and initially they us...
Q: BANK STATEMENT Date Checks Deposits Other Balance May 1 $ 200 4 #2 $ 1...
A: Preparation of the bank reconciliation statements. We have,
Q: Noah Yobs, who has $75,400 of AGI (solely from wages) before considering rental activities, has $67,...
A: We have solved part (a) as part (b) where it is asked to complete Form 1040 (page1) all the personal...
Q: Question 22 (S corporations: use of basis in loans for entity losses) Cynthia and Doug are equal sha...
A: Operating loss is a loss incurred by the company when Company’s operating expenses exceeds its gross...
Q: eBook Calculator Print Item Five Measures of Solvency or Profitability The balance sheet for Garcon ...
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...
Q: I'm having trouble finding the missing values for the on company and off company sections, letters a...
A: Click to see the answer
Q: What is the difference between grease payment and bribery? Is grease payment legal per FCPA and per...
A: Grease payment: A grease payment is a payment made to the international or government agencies to ge...
