Declared dividends are a debit to the retained earnings account whether paid or not. Stock dividends, on the other hand, are the dividends that are paid out as additional shares as fractions per existing shares to the stockholders. We can find the net income for the period at the end of the company’s income statement…
Contingent liabilities are liabilities that could happen but aren’t guaranteed. During the operating cycle, a company incurs various expenses for which it may not immediately pay cash. Instead, these expenses are recorded as short-term liabilities what are liabilities accounting on the company’s balance sheet until they are settled. The operating cycle refers to the period…
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