contestada

Lorna just finished compiling her company’s income statement for the month ended March 31. Her next step in preparing the company’s financial statements should be to A : subtract the company’s net income for March from the company’s retained earnings as of March 1. B : add the company’s net income for March to the company’s retained earnings as of March 1. C : subtract the company’s net income for March from the company’s retained earnings as of March 31. D : add the company’s net income for March to the company’s retained earnings as of March 31.

Respuesta :

Answer:

Her next step in preparing the company’s financial statements should be to

D : add the company’s net income for March to the company’s retained earnings as of March 31.

Explanation:

The retained earnings are calculated by adding net income to (or subtracting net losses from) the previous term's retained earnings and then subtracting any net dividend(s) paid to the shareholders.

Otras preguntas