All categories

2 years ago

The balance sheet reports revenues and selling costs for a period of time.

1 answer:

3 0

I would say false, the sheet that reports the revenues and the costs is known as the income statement. the balance sheet is the sheet that would report all of the assets (such as the cash, accounts receivable, or others). The balance sheet will also report all the liabilities (including the accounts payable, notes payable and others). Lastly, the balance sheet will also report the equity or the capital account of the business. So in a nutshell, the balance sheet reports the assets, liabilities, and owner's equity.

You might be interested in

Athlon Company acquired 30 percent of the common stock of Opteron Corporation, at underlying book value. For the same year, Opte

MatroZZZ [7]

Answer:

$16,500

Explanation:

The computation of increase in investment is shown below:-

Here, if the investor holds 20% or more but less than 50% shares than the dividend paid and income earned by the investee are reported.

Increase in investment = Shares of net income - Share of dividends

= $55,000 × 30% - $0 (Dividend is not paid)

= $16,500

Therefore for computing the increase in investment under equity method we simply applied the above formula.

8 0

2 years ago

You had used an online service to apply for a credit card. As part of the process, you submitted your personal information such

ch4aika [34]

Answer:

b. Identity theft

Explanation:

It is the acquisition of another person's information such as Social Security Number , date of birth and employer information etc. for fraudulent act.

8 0

2 years ago

Assume milk is used to produce ice cream. Ceteris paribus, a decrease in the price of milk will cause the equilibrium price of i

MariettaO [177]

Answer:

Fall

Explanation:

Milk is an input in the production of milk.

decrease in the price of milk would increase the production of icecream.

An increase in production would lead to an increase in supply of milk.

When supply exceeds demand, equilibrium price drops.

I hope my answer helps you

5 0

2 years ago

What factors in society have promoted careers in early childhood?

Elena L [17]

The factors in society are all around us and them.
As corny as it might sound but the early promoted careers all are because the parents and the teachers and the community.

6 0

2 years ago

Department M had 600 units 60% completed in process at the beginning of June, 6,000 units completed during June, and 700 units 3

irina [24]

Answer:

5,850 units

Explanation:

Units Incomplete at the beginning of the month:

= No. of units × 40% incomplete

= 600 units × 0.4

= 240 units

Units completed during the month:

= 6,000 - 600

= 5,400 units are completed

Units completed at the end of June:

= 700 units × 30%

= 210 units

Number of equivalent units of production for conversion cost for the period:

= 240 + 5,400 + 210

= 5,850 units

4 0

2 years ago