Answer:
Explanation:
Multi step income statement is a more detailed way of reporting profit and loss compared to the single step as it entails the use of series of equation to arrive at the net income.
Workings
Income Statement for Save - the - Earth for the year Ended Dec. 31
Sales 28,000
Sales discount 790
sales return 290 (1080)
and allowance
Net sales 26,920
Cost of goods 9,800
Gross profit 17,120
Expenses
Selling expenses
Staff Salary 2900
Rent 1900
Advertising 580
Total Selling expenses 5380
General admin expenses
Office salary 2400
Insurance expenses 1400
Office supplies 580
Total general admin expenses 4380
Total expenses 9,760
Net income 7,360
Assume the United States can use a given amount of its resources to produce either 20 airplanes or 8 automobiles and Japan can employ the same amount of its resources to produce either 20 airplanes or 10 automobiles. The U.S. should specialize in airplanes.
Answer: Option D
<u>Explanation:</u>
The resources which are used to produce goods are available in limited amount in the economy. But these resources can be used for alternative purposes and producing various goods. So the producers should focus on the optimum utilization of the resources.
The United States of America can produce 20 airplanes with that amount of the resources, so it should specialist in producing air planes and not on the production of the auto mobiles. Because it can produce only 8 automobiles.
I guess the last option is the best answer.
Yes; mouse models with camouflage coloration were preyed on less often than non-camouflaged mouse models.
Answer:
paid in capital in excess of par value = $2000
and There will be a debit to Organisation expenses for $4,700
Explanation:
given data
charter authorized = 100,000 shares
common stock = $10 par value
issued = 270 shares
payment = $4,700
solution
we know here that
Paid up value of the stock = $10 per share
and here shares issue to the attorney satisfying the organisation expenses is 270 shares
so common stock = 270 shares × $10
common stock = $2700
so paid in capital in excess of par value = $2000
and There will be a debit to Organisation expenses for $4,700
