Which of the following items has no effect on retained earnings?
A) expenses
B) dividends declared
C) revenues
D) hiring a new employee
Correct Answer:
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Q41: The left side of a T account
Q42: An investment by the shareholders in a
Q43: The purchase of an asset for cash
A)
Q44: Shareholders' equity is increased by
A) dividends declared.
B)
Q45: A paid dividend
A) decreases assets and shareholders'
Q47: The payment of an account payable
A) decreases
Q48: If expenses are paid in cash, then
A)
Q49: Recording revenue
A) increases assets and liabilities.
B) increases
Q50: Debit and credit can be interpreted to
Q51: An expense
A) decreases assets and liabilities.
B) decreases
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