Retained Earnings, Stockholder's Equity, Owner's Capital1) What is the difference between the three accounts listed above?2) Are Dividends withdrawn from both RE or SE? What Financial Statements do Dividends appear on?3) Are Dividends CR or DR4) What type of account is Owner's Drawings? What statement does it appear on? Is it CR or DR? Is it similar to Dividends if so how and if not how?

Question

Retained Earnings, Stockholder's Equity, Owner's Capital
1) What is the difference between the three accounts listed above?
2) Are Dividends withdrawn from both RE or SE? What Financial Statements do Dividends appear on?

3) Are Dividends CR or DR

4) What type of account is Owner's Drawings? What statement does it appear on? Is it CR or DR? Is it similar to Dividends if so how and if not how?

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Final Accounts

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: What is imputed interest?

A: Interest: Interest is a charge against the amount due, Interest is paid on the amount borrowed as a ...

Q: On January 1, 2017, Windsor, Inc. had these stockholders’ equity balances. Common Stock, $1 par (...

A: The Equity section is divided into several sub-parts like paid in capital, additional paid in capita...

Q: Hi I'm stuck on this problem. My numbers aren't adding up and I'm completely lost because I have red...

A: Amortization of notes payable: Amortization of notes payable is a process in which the loan amount i...

Q: On May 1, 2020, Judice Company issued 400 $1,000 bonds at 104. Each bond was issued with two detacha...

A: Bonds Payable: Bonds payable are referred to long-term debts of the business, issued to various lend...

Q: On January 1, 2019, Lin plc issued a convertible bond with a par value of £50,000 inthe market for £...

A: Given :Par value of the Bond - € 50,000Interest rate                 - 10%Issued price              ...

Q: Leinart Company had taxable wages (SUTA and FUTA) totaling $175,000. During the year, the company wa...

A: Calculate gross FUTA tax:

Q: Exercise 15-1During its first year of operations, Indigo Corporation had the following transactions ...

A: (a) Preparation of the journal entries for these transactions, assuming that the common stock has a ...

Q: Evan and Eileen Carter are husband and wife and file a joint return for 2018. Both are under 65 year...

A: Dependency exemption: The deduction allowed for the care and maintenance of qualifying dependent is ...

Q: I'm not understanding how to solve this problem. Please help, thanks!

A: Process firms accumulate production costs by process or department for a given eriod of time. Proces...

Q: Tim used his 2015 F-150 pickup truck to meet with clients and for other business needs.  The truck w...

A: Assuming, the trucks driven 15,473 miles during the year 2018 instead of year 2016, and 3,541 miles ...

Q: Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here:   ...

A: Calculate the cash balance (after reconciliation) of Hills  Company at the end of the June 30.

Q: I am lost on this problem, I tried using the 'Show me how' video but I don't understand it at all. H...

A: Since we only answer upto 3 sub-parts, we'll answer the first 3. Please resubmit the question and sp...

Q: D.J. Fletcher, a trusted employee of Bluestem Products, found himself in personal financial difficul...

A: a.The fraudulent activities by D. J. Fletcher would neither make the general ledger out of balance n...

Q: The current sections of Teal Mountain Inc.’s balance sheets at December 31, 2016 and 2017, are prese...

A: Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and cas...

Q: Mary Potts arrived at her stored on the morning of January 29, she found empty shelves and display r...

A: The perpetual inventory method and periodic inventory method are the methods used to count the quant...

Q: During Heaton Company’s first two years of operations, the company reported absorption costing net o...

A: Absorption Costing: Absorption costing identifies the cost that is absorbed while manufacturing and ...

Q: I am looking for help with question 4 and 5.   The Walton Toy Company manufactures a line of dolls a...

A: 4. Calculate the contribution margin with the constrained resource.

Q: shown is the information needed to prepare a bank reconciliation for Warren Electric at December 31....

A: Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own rec...

Q: Vale, Hamilton and Curtis, Inc. (VHC) (this is the same company in I above) began operations on June...

A: Computation of Taxable Income of VHC Inc,. for 2018

Q: Suppose your company reports $200 of net income and $48 of cash dividends paid, and its comparative ...

A: 1. Cash flow from operating activities include all activities that are required in the day to day op...

Q: What prevents you from deleting the record of the vendor list? This from quitbooks.

A: Quick books has  system of accounting control  where in all users do not have access to updating mas...

Q: Hello, can you please help me with this question? Only part of the question fits in the screen snip ...

A: Process costing is a system in which production cost are allocated to individual production stages u...

Q: Why is establishing accounting standards is characterized as a political process? This is a Learning...

A: The new standards and the principles set by the authorities are influenced by many factors similar t...

Q: On January 1, 2018, the Mason Manufacturing Company began construction of a building to be used as i...

A: First of all we will start by calculating the rate or capitalization.For specific borrowings we will...

Q: Cheyenne Corp. was organized on January 1, 2017. It is authorized to issue 21,000 shares of 7%, $53 ...

A: To get the balance of paid in capital, let us first put in the journal entries.The journal entries w...

Q: Bb Blackboard Learn mbe Course: ACCT 209: Survey of Acc X X New Tab ckboard.com/webapps/ubsh-Iti-int...

A: 1.Credit terms - 2/10 , n/30; Date June 8:Cash received = $30,000 (100% - 2%)Cash received = $29,400

Q: Life-Cycle Costing Kate Stephens, the COO of BioDerm, has asked her cost management team for a produ...

A: Click to see the answer

Q: Montross Lumber processes wood to be shipped to construction companies. In order to keep its product...

A:  Inspection cost: The inspection cost is the cost incurred to examine the quality of the products. I...

Q: If I were to have accounts receivable in the millions and were $ 74 million at the beginning of year...

A: Accounts receivable turnover: This is the ratio which analyzes the number of times accounts receivab...

Q: Blue Corporation sold $2,220,000, 7%, 5-year bonds on January 1, 2017. The bonds were dated January ...

A: Prepare the journal entries to record the issuance of the bonds and bond interest expense for 2017, ...

Q: On January 1, 2019, Bailey Industries had shares outstanding as follows.6% cumulative preference sha...

A: Earnings per share is a financial ratio that indicates a company’s ability to earn revenue for its c...

Q: At the beginning of 2018, Thompson Service, Inc., showed the following amounts in the stock-holders'...

A: Prepare journal entry for the given transactions (from January 3 to May 9).

Q: How is the earned income credit determined?

A: Earned income credit: Earned income credit is a refundable tax credit system designed by the federal...

Q: The two independent cases are listed below:    Case A   Case B     Year 2   Year 1   Year 2   Y...

A: Cash flows from operating activities:  Cash flows from operating activities refer to the cash receiv...

Q: Comprehensive Accounting Cycle Review 9-1 (Part Level Submission) Pina Colada Corp.’s unadjusted tr...

A: Explanation for the entry adjustmentDec 2- The Equipment cost including sales tax needs to be capita...

Q: Hello, EagleEye Company, a manufacturer of digital cameras, is considering entry into the digital bi...

A: Click to see the answer

Q: Indicate whether each of the following activities would be reported on the statement of cash flows a...

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for ...

Q: In which of the three activity categories of a statement of cash flows would each of the following i...

A: Cash flow statements are the statements that determines the inflow and outflow of cash from three ma...

Q: What should a MNC do to prevent bribery?

A: Bribery is the act of giving or receiving something of value in exchange for some kind of influence ...

Q: Under what situation will return on equity be higher than return on investment? a. When assets excee...

A: (a) When assets exceed liabilities:Suppose assets is $ 70,000 and liabilities is $ 50,000 and net in...

Q: Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an incom...

A: Multi-step income statement: The income statement represented in multi-steps with several sub-totals...

Q: Zenon Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day...

A: Flexible Budget: The flexible budget is a budget which modifies itself as per the variations in the ...

Q: Confusingly, §1221 defines what is not a capital asset. True False

A: Capital Assets:All property that taxpayers own is capital asset, unless it falls into one of the fol...

Q: The Melrose Corporation produces a single product, Product C. Melrose has the capacity to produce 10...

A: Incremental cost: Incremental cost refers to the cost incurred in producing an additional unit, in o...

Q: Can you explain the solution below ? how did they calculate the sales revenue ? It doesn't make sens...

A: This budget can be understood in the following manner :

Q: I'm having trouble solving this problem. I don't understand it at all and even tried viewing the 'sh...

A: Cash flow from operating activities relate to the cash generated from operations i.e. normal day to ...

Q: If Toyota Motor Company receives an order on May 1, begins production on May 19, and ships the order...

A: Calculate the process time of Toyota Motor Company.Note: Both dates included.

Q: Schlitterbahn Waterslide Company issued 35,000, 10-year, 8 percent, $100 bonds on January 1 at face ...

A: The journal entries can be made as follows :

Q: I understand the accounting equation is: Liabilities + Stock Holders’ Equity = Assets How do you pre...

A: The basic Accounting Equation is  Assets = Equity + LiabilitiesAssets are the resources owned by the...

Q: What is the correct answer for this question?

A: The variances are differences between the budgeted and actual expenses. Spending variances= Actual c...