question 18 (3 points)\nthe primary difference between the periodic and perpetual inventory systems is that…

question 18 (3 points)\nthe primary difference between the periodic and perpetual inventory systems is that a\nperpetual system determines the inventory on - hand only at the end of the accounting period\nperpetual system keeps a record showing the inventory on - hand at all times\nperpetual system provides an easy means to determine inventory shrinkage\nperpetual system records the cost of the sale on the date the sale is made\nquestion 19 (3 points)\nthe retained earnings statement shows\nonly net income, beginning and ending balance of retained earnings\nonly total assets, beginning and ending balance of retained earnings\nonly net income, beginning balance of retained earnings, and dividends\nbeginning and ending balance of retained earnings and all the changes in retained earnings as a result of net income (loss) and dividends

question 18 (3 points)\nthe primary difference between the periodic and perpetual inventory systems is that a\nperpetual system determines the inventory on - hand only at the end of the accounting period\nperpetual system keeps a record showing the inventory on - hand at all times\nperpetual system provides an easy means to determine inventory shrinkage\nperpetual system records the cost of the sale on the date the sale is made\nquestion 19 (3 points)\nthe retained earnings statement shows\nonly net income, beginning and ending balance of retained earnings\nonly total assets, beginning and ending balance of retained earnings\nonly net income, beginning balance of retained earnings, and dividends\nbeginning and ending balance of retained earnings and all the changes in retained earnings as a result of net income (loss) and dividends

Answer

Brief Explanations:

For Question 18, the periodic inventory system only determines inventory on - hand at the end of the accounting period, while the perpetual system keeps a continuous record. For Question 19, the retained earnings statement shows the beginning and ending balance of retained earnings and changes due to net income (loss) and dividends.

Answer:

Question 18: A periodic system determines the inventory on hand only at the end of the accounting period. Question 19: beginning and ending balance of retained earnings and all the changes in retained earnings as a result of net income (loss) and dividends.