At the End of the Current Fiscal Year,an Analysis of the Payroll

question 55

Multiple Choice

At the end of the current fiscal year,an analysis of the payroll records of Bev Company showed accrued salaries of $22,200.The Accrued Salaries Payable account had a balance of $32,000 at the end of the current fiscal year,which was unchanged from its balance at the end of the prior fiscal year.The books of the company have not yet been closed.The entry needed in this situation would include a

• A) debit to Retained Earnings of $9,800.
• B) credit to Retained Earnings of $9,800.
• C) debit to Accrued Salaries payable of $9,800.
• D) debit to Salaries Expense of $9,800.

Analyze the impacts of stock dividends on the marketability and market price of the corporation's stock.

Understand the role and effect of retained earnings, including restrictions and adjustments, in dividend distributions.

Identify and calculate the effects of stock splits on a company's financial statements.

Distinguish between the different types of dividends and understand their common uses in practice.

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Definitions:

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a given period.

Public Infrastructure

The foundational facilities and systems serving a country, city, or area, including the services and facilities necessary for its economy to function, such as transportation, communication, sewage, water, and electric systems.

Public Debt

The total amount of money that a government has borrowed and not yet repaid, including both internal and external borrowings.

GDP

A rephrased definition: The sum value of all goods and services produced over a specific time frame within a nation's borders.