How does money transfer from income summary to Retained Earnings?

[Home school]

Having truble in my Financial Accounting class ( do a home course ) and have
flunked all test so far. Need help on where to find answers to questions I
have.
Thank you

 

[Gord Dibben]

We do not have access to the class you are taking so don't know where you are
having truble(sic)

Please post some questions so we can see where to direct you for help.


Gord Dibben MS Excel MVP


On Sat, 19 Aug 2006 08:15:01 -0700, Home school <Home

 

[Home school]

Here are some samples of questions or intrest I need help with ....Net Loss
25,000 Dividends 5,000 December 31, 2004 Retained earnings 50,000 The
January 1,2004 Retained Earnings balance was? OR Land for 2003
$35,000 and 2004 $90,000 Common Stock 2003 $200,000 and 2004
$255,000 An analysis of the records indicated there were no cash flow
effects resulting from the changes in the two accounts. How should the
changes in these accounts be reported on a statement of cash flow? or What
effect does the payment of interest expense have on total assets and the
current ratio?

LaDonna Reprogle