Answer:
C) Income Statement and Cash Flow Statement
Explanation:
The Income Statement shows a clear separate entry for the Net income which is calculated after all the deductions and additions.
Net Income is the first balance shown on the cash flow statement after which the calculations are carried out to find the flow of cash in and out of the company.
Net income is also shown in the Balance Sheet but not separately but together with retained earnings. It is added to the retained earnings and the amount is shown as a whole amount of retained earnings or shown as a change in equity.
So best answer is C because the question asked is where would you find Net Income on?
Meaning separately. So it is separately present on Income Statement and Cash Flow Statement.
Otherwise it is present on all three statements ( on balance sheet as part of retained earnings or equity).
On January 30, the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.
Explanation:
- On November 1, Wright Co. borrowed $20,000 cash from the Third Bank by signing a 90-day, and 6% of interest-bearing note.
- On December 31, it was recorded an adjusting entry to interest expense of $200.
- On January 30, which is the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.
- Interest expense is an expense which is known as a non-operating expense which is shown on the income statement. It also represents interest payable amount when it is borrowed. For Example,
- bonds,convertible debt, loans or lines of credit
- The main difference between the interest expense and the interest paid is that the discount amount and this difference changes the net amount of bond liability.
- Interest expense is an amount determined by the interest rate on an account.
Answer:
Letter A is correct.<u> Direct marketing channel.</u>
Explanation:
A distribution channel is the most effective way a company decides to get its products to the end consumer at the right place at the right time. Intermediaries or business chains can be used to get the good to the customer. Some examples of distribution channels are: manufacturer, internet, retailers and shipping centers.
Distribution channels can be direct or indirect.
In the case of the above question, Sophie's sales occurred through a direct distribution marketing channel, because this is configured as the one where the consumer can purchase the product or service direct from the manufacturer, there are no intermediaries for the product to reach the final customer. And proper transportation or logistics teams are also used to effectively deliver directly.
Answer:
Explanation:
The journal entries are shown below:
Cash A/c Dr $582,000 ($600,000 × 0.97)
Discount on Bonds Payable A/c Dr $18,000
To Bonds payable A/c $600,000
(Being the issuance of the bond is recorded and the remaining balance is debited to the discount on bond payable account)
Cash A/c Dr $612,000 ($600,000 × 1.02)
To Bonds payable A/c $600,000
To Premium on bonds payable A/c $12,000
(Being the issuance of the bond is recorded and the remaining balance is credited to the premium on bond payable account)
<u>Explanation:</u>
Risk is involved in all types of investment the higher risk yields higher returns while lower risk yields lower returns. The trade off which the investor faces in making investment decisions is the risk return trade off.
In insurance the cost of risk includes the expected losses which are uncertain. The trade off which is provided by insurance can be direct and indirect losses, internal risk reduction and residual uncertainty. Insurance reduces the expected losses and eliminate the risk of loss by providing cover the cost of which depends on the nature of the risk.
