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What is the primary difference between revenue and income?
A company has a bond payable in 10 years. How should this liability be classified?
If a company purchases equipment worth $50,000 by taking a loan, how does this transaction affect the fundamental accounting equation?
A company has $100,000 in net income and pays $20,000 in dividends. What are the retained earnings?
If a company issues new shares worth $100,000, how does this transaction affect the fundamental accounting equation?
How do dividends affect retained earnings?
What is the fundamental accounting equation?
A company has $300,000 in revenue and $250,000 in expenses. What is the net income?
If a company finances its assets primarily through liabilities rather than equity, what is the likely implication for its financial structure?
A company has $200,000 in net income and pays $50,000 in dividends. What are the retained earnings?