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2 years ago

Information needed to prepare an income statement’s Expense section is obtained from a work sheet’s Account Title column and

Business

1 answer:

Mars2501 [29]2 years ago

8 0

Answer:

Option (A) is correct.

Explanation:

Income statement have an operating section which includes revenue and expenses section.

Revenue section of the operating section includes all the cash inflows and all the values that represents the appreciation of the assets.

On the other hand, expenses section of the operating section includes all types cash outflows and those activities which reduces the value of the assets of the company or increases liability.

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credit cards should be used for what A. anything you want B. things you cant afford C. budgeting expenses you need to pay over t

zloy xaker [14]

Im pretty sure its C

hope this helps best of luck :)

4 0

2 years ago

On January 1, Parson Freight Company issues 7%, 10-year bonds with a par value of $2,000,000. The bonds pay interest semiannuall

Minchanka [31]

Answer:

The correct option is Debit Cash $1,864,097; debit Discount on Bonds Payable $135,903; credit Bonds Payable $2,000,000.

Explanation:

This question is an instance of bonds issued at a discount. This happens when a bond is issued below the face value of the bond and also happens when the coupon rate on the bond payable is less than the market rate.

The face value of the bond payable is $2,000,000 while the market value is $1,864,097, so there is a discount of $2,000,000 - $1,864,097 = $135,903 on the bond payable, which is to be amortized over the life of the bond payable.

So, the appropriate journals to record this transaction is as provided above.

4 0

2 years ago

Which examples demonstrate tasks commonly performed in Visual Arts jobs? Check all that apply. Cliff sets up video equipment at

marysya [2.9K]

Answer:

3, 5, 6

Explanation:

On e2020

7 0

2 years ago

Read 2 more answers

You are offered a chance to buy an asset for $4,500 that is expected to produce cash flows of $750 at the end of Year 1, $1,000

zzz [600]

Answer:

a. 22.64%

Explanation:

At first we are going to need to compute the Internal rate of return(IRR) (in which the current value of inflows = the current value of outflows)

Let's let the IRR be x percent

Therefore $4,500 = $750 / (1.0x)

+ $1,000 / (1.0x) power 2 + $850 / (1.0x) power 3 

+ $6,250 / (1.0x) power 4

Thus, x = approximate return rate = 22.64 percent

6 0

2 years ago

Sid has decided to leave his $70,000-a-year landscape design job and open a new kayak business. his insurance cost is expected t

Karo-lina-s [1.5K]

Economic profit refers to the profit earned by deducting the implicit cost and the explicit cost from the total revenue.

Economic Profit = Total revenue - (Explicit cost + Impllicit Cost)

where Total Revenue = $100,000

Explicit Cost = $2000 + ($25000*10%) = $4500

Implicit Cost = $70000 + $10000 = $80000

Economic Profit = $100,000 - ($4,500 + $80,000)

Economic Profit = $100,000 - $84,500

Economic Profit = $15,500

Hence, Sid's Economic Profit is equal to $15,500

4 0

2 years ago