Answer:
The operating income for the year is $97,000
Explanation:
For computing the operating income, first, we have to calculate the cost of goods sold. The formula to compute the cost of good sold is shown below:
= Beginning merchandise inventory + Purchases during the year - Ending merchandise inventory
= $33,200 + $92,000 - $35,000
= $90,200
Now, the operating income would be
= Sales - the cost of good sold - selling and administrative expenses
= $262,900 - $90,200 - $75,700
= $97,000
0+625=625-275=350+350=700+200=900
hope this helps
Answer: The correct answer is c. Expenses are reported on the income statement when cash is paid.
Explanation: Matching principle states that expenses are matched with the related revenue in the same period, that is, expenses incurred to generate related revenue are recorded during the same time interval the related revenue is recorded in order to show the true and fair position of the profitability of the company.
Based on the above definition, <u>only option C does not align with the matching principle</u><u> </u>because expenses should be recorded in the income statement when incurred and NOT when cash is paid. If it is recorded when cash is paid, it means <em>cash basis of accounting</em> is being applied.
Answer:
C. the money supply to fall.
Explanation:
According to my research on economics, I can say that based on the information provided within the question an increase in currency holdings will cause the money supply to fall. This is because if people begin to hold this causes the cash flow to decrease and money supply decreases because of the low cash flow.
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