Multiple Choice
Using the percentage of sales method,forecasted retained earnings balance is equal to
A) prior year retained earnings plus projected net income less projected dividends.
B) the ratio of retained earnings to sales for the current year multiplied by projected sales for next year.
C) the retained earnings balance for the current year as no changes are made to this financing account when using the percent of sales method.
D) the ratio of retained earnings to sales for the current year multiplied by projected sales for next year, minus dividends paid.
Correct Answer:
Verified
Correct Answer:
Verified
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