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IceJOKER [234]
1 year ago
10

Use the following account numbers and corresponding account titles to answer the following question. Account Number Account Titl

e (1) Cash (2) Merchandise inventory (3) Cost of goods sold (4) Transportation-out (5) Dividends (6) Common stock (7) Selling expense (8) Loss on the sale of land (9) Sales revenue Which accounts would affect the amount of net income shown on the income statement?
Business
1 answer:
Ilya [14]1 year ago
7 0

The accounts that would affect the net income in the income statement are:

  • (2) Merchandise inventory.
  • (3) Cost of goods sold.
  • (4) Transportation-out.
  • (7) Selling expense.
  • (8) Loss on the sale of land.
  • (9) Sales revenue.

<h3>Which items affect net income?</h3>

The ending and beginning merchandise inventory play a role in the cost of goods sold which is deducted from net income.

Selling expenses such as transportation-out are also deducted as well as the loss on sale of land. Sales revenue is added to net income.

Find out more on accounts in the income statement at brainly.com/question/21851842.

#SPJ1

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Choose the correct description of variable and fixed costs. A. A variable cost is related to a particular cost object and can be
Pachacha [2.7K]

Answer:

B.

Explanation:

Fixed costs are those costs which are not output dependent. Are fixed till certain level of output. The fixed cost per unit changes with output.

Variable costs are those costs which are output dependent. There is a positive correlation between the production output and the variable cost. The variable cost per unit remains constant.

With the classification of cost into fixed and variable, the manager can count the break even point, in amount terms as well as in the number of unit terms.

The ratio between the variable cost and fixed cost shows how much adjustable is the organization.

6 0
3 years ago
What is the difference between 1st,2nd, and 3rd degree murder?
SpyIntel [72]
1st on purpose, 2nd on accident but wanted to kill them, 3rd on accident with no intent.
7 0
3 years ago
Ruth Company produces 1,000 units of a necessary component with the following costs: Direct Materials $34,000 Direct Labor 15,00
Snowcat [4.5K]

Answer:

Option B is correct

The maximum price to be paid is = $64000

Explanation:

To determine the the maximum price we would compute using the relevant costs of internal production.

<em>The maximum price to be paid to external supplier should be the total relevant costs associated with internal production.</em>

Total relevant cost of internal production = 34,000 + 15,000 +9000 + 6000

The maximum price to be paid is = $64000

Note that the fixed overhead  of $6000 is associated with the internal production the balance of 4,000 is irrelevant and would be incurred either way.

4 0
3 years ago
A realtor is trying to predict the selling price of houses in Greenville (in thousands of dollars) as a function of size (measur
astraxan [27]

Answer:

a. The estimated coefficient for size is approximately <u>13.81</u>.

b. In the regression, two predictors are used. These two predictors are size and fireplace (FP).

Explanation:

a. The estimated coefficient for size is approximately _____.

Estimated coefficient for size = Standard Error of size * t-Stat of size =  1.2072436 * 11.439 = 13.81

Therefore, the estimated coefficient for size is approximately <u>13.81</u>.

b. How many predictors (independent variables) were used in the regression?

Independent variables can be described as variables that are changed or manipulated in order to measure the effect of their changes on the dependent variable. Independent variables are therefore also called predictors because they employed to predict the dependent variable.

In the regression, two predictors are used. These two predictors are size and fireplace (FP).

8 0
3 years ago
Suppose that political upheaval in argentina has sparked rampant inflation. a. explain how this unexpected inflation would impac
ankoles [38]

All consumers including banks, even retirees, are directly impacted by inflation in terms of their income, savings, and spending.

How Inflation affects retirees?

  • When determining whether to boost the qualified retirement plan contribution limits or the monthly Social Security benefits, the federal government utilizes inflation as a baseline.
  • Pensions, on the other hand, may or may not increase in value with inflation, and private businesses frequently have internal guidelines for how and when to make cost-of-living adjustments.
  • The main worry for retirees is how inflation would influence their ability to spend their money on essentials like healthcare, travel, and recreation, all of which are expected to be more expensive during inflationary periods.
  • To guard against rising prices, retirees can diversify their sources of income, manage their savings, and make prudent spending decisions.

How will inflation impact banks?

Central banks, including the Federal Reserve, may raise interest rates in an effort to reduce inflation if it is rising while the economy is expanding. Consumer borrowing may slow down as a result of higher interest rates as they take out fewer loans.

Learn more about Inflation with the help of the given link:

brainly.com/question/28190771

#SPJ4

3 0
1 year ago
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