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sleet_krkn [62]
2 years ago
12

The income statement reports all of the following except: Group of answer choices The time period over which the earnings occurr

ed. Assets owned by a business. Net income or loss earned by a business. Expenses incurred by a business. Revenues earned by a business.
Business
1 answer:
velikii [3]2 years ago
8 0

All of the following are reported in the income statement, with the exception of Assets owned by a business which is a balance sheet item not included in income statement.

A financial report describing a company's income and expenses over a reporting period is called an income statement. It is usually prepared quarterly or annually and is also known as a profit and loss (P&L) statement. An organization's financial performance over a reporting period is shown in income statements.

The following details are commonly found on an income statement:

Revenue: The amount of money received by a company during a reporting period

Costs : Incurred by a company during a reporting period.

Costs of goods sold (COGS): The total expenses for the parts that make up any good or service that a business produces and sells.

Revenue less the cost of items sold is known as gross profit.

gross profit less operating expenses equals operating income.

Operating income less non-operating costs equals income before taxes.

Net income: Earnings before to taxation

Net income divided by the total number of outstanding shares is known as earnings per share (EPS).

Depreciation: The gradual loss of value in assets over time, including stock, machinery, and property

Earnings before interest, taxes, depreciation, and amortization, or EBITDA

Learn more about income statement here

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Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no b
Sveta_85 [38]

Answer:

$136

Explanation:

Date      Transaction       Units         Cost           Total          

3             Purchase             5            $20             $100

10            Sale                     3

17            Purchase            10            $24            $240

20           Sale                     6

23           Sale                     3

30           Purchase           10             $30            $300

using the first in, first out method, the COGS is calculated based on the oldest price of the units in merchandise inventory:

6 units were sold on May 20th, 2 of them costed $20 (May 3rd purchase) per unit = $40, while 4 of them costed $24 (May 17th purchase) = $96. Total COGS = $40 + $96 = $136.

7 0
3 years ago
Whats a good way to make more money from $9.00,
Ymorist [56]
Your answer: work more hours
7 0
3 years ago
Most stock exchanges today use electronic trading. t or f
Reil [10]

Answer:

T

Explanation

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Desmond, a US citizen, opens and operates a jewelry store in Lisbon, Portugal. This counts as: investment for Desmond and US for
Katen [24]

Answer: Investment for Desmond and US foreign direct investment.

Explanation:

This is an investment for Desmond because he owns the store. He is therefore the equity shareholder and investor into the store.

It is also a U.S. Foreign Direct Investment (FDI) because FDI is what describes a situation where an entity from a country goes to another country and sets up a business there that they will own and operate. Desmond being a U.S. citizen is operating a store in another country so this is U.S. FDI.

3 0
2 years ago
In 1974, the price level for Pacifica was 100, the price level for Atlantica was also 100, and in the foreign exchange market 1
blsea [12.9K]

Answer: 0.78 pound mark exchange rate

Explanation:

The Purchasing power parity (PPP) is typically used to make comparison between the currencies of different countries' currencies and also used in comparing their standards of living.

According to PPP, the pound-mark exchange rate in 2003 will be calculated as:

= 280/360

= 0.78

6 0
2 years ago
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