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2 years ago

Which of the following statements regarding the income statement columns on the worksheet is false?

Business

1 answer:

Alex2 years ago

5 0

Unearned revenue is recorded as a liability on a company's balance sheet.

What is an income statement?

A company's revenues, expenses, and profitability are summarized in an income statement over time.

On a company's balance sheet, unearned revenue is recorded as a liability.

It is also known as a profit-and-loss (P&L) statement or an income statement.

It shows your revenue from selling products or services as well as your expenses for generating revenue and running your business.

Hence option b is correct as stated above.

Learn more about income statements here.
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The Fed has decided to expand the money supply, leading to lower interest rates. As a partner in a tech start-up, you react to t

Alona [7]

Answer:

A, B and D

Explanation:

Expanding the money supply is an exercise of expansionary monetary policy.

This decision will first allow our tech startup to acquire cheaper loans and expand our operations, this expansion in operations will result in new employment opportunities and hence as a result, unemployment will be reduced assuming this is a general trend in the economy.

This decision also directly reflects an increased investment and hence the GDP on the whole and the investment part of GDP would both increase,

GDP = C + I + G + (X - M), where I = investment.

This change in macro economy will increase aggregate demand due to expansionary effects. Increase in imports is not conclusive as it may or may not happen depending upon the demand state.

Hope this helps.

8 0

3 years ago

Creating a chart using a spreadsheet Chart Wizard involves four steps. Which is the first step?

ycow [4]

Making a line for ur chart i'm guessing

8 0

3 years ago

Read 2 more answers

Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software

Whitepunk [10]

Answer:

Tech Solutions

1. The predetermined overhead rate is:

= $6

2. The total job cost for the Xavier Company engagement is:

= $79,470

Explanation:

a) Data and Calculations:

Estimated direct labor-hours for the year = 55,000

Estimated fixed overhead cost = $302,500

Estimated variable overhead cost ($0.50 per DLH) = $27,500

Total overhead costs = $330,000 ($27,500 + $302,500)

Actual overhead cost for the year = $321,300

Actual total direct labor-hours = 58,850

Predetermined overhead rate = $6 ($330,000/55,000)

Xavier Company's Job:

Direct materials $ 50,850

Direct labor cost $ 27,300

Direct labor hours worked 220

Applied overhead = $1,320 ($6 * 220)

Total job cost = $79,470

6 0

2 years ago

You currently owe $20,000 on a car loan at 8.25 percent interest. If you make monthly payments of $596.59 per month, how long (i

abruzzese [7]

Answer:

The answer is: 36.2 months

Explanation:

First, let us calculate the total amount to be repaid after interest has been added.

interest = 8.25% = 0.0825

interest in amount = 0.0825 × 20,000 = $1,650

Total amount to be repaid = Original amount + interest

= 20,000 + 1,650 = $21,650

Next, we are told that the repayment is made monthly at $596.59 per month, therefore number of months required to pay $21,650;

$596.59 = 1 month

∴ $21,650 = 21,650 ÷ 596.59 = 36.28 = 36.3 months ( to one decimal place)

7 0

3 years ago

Answer completely and correctly please.

spin [16.1K]

Answer:

Explanation:

September October Nov December

Opening cash balance - 9250 3490 3290 3090

Football tickets (160)

Entertainment (250) (250) (250) (250)

Tuition fee (4,800)

Rent (600) (600) (600) ( 600)

Food (550) (550) (550) (550)

Apartment deposit (600) 600

Earning 1200 1200 1200 1200

3490 3290 3090 3490

Covaig Kovar does not have enough cash for the tuition

The projected cash balance of $3490 is less than the tuition of $4800 by $1310

With this budget he is able to realize that he needs to augment his cash inflow or cut his expenses to meet up

5 0

3 years ago