Answer: the correct answer is $169,000
Explanation: the warranty expenditures during the year is $195,000 minus the increment in the liability account $26,000 equals $169,000.
<span>The cost of borrowing money is called the interest. Interest is what you pay to the loan company or lender when you borrow money from them. The interest is what they are charging when they give you money for a purchase now while you pay them back overtime. </span>
Answer:
The correct answer is Gain or loss on the sale of equipment as part of continuing operations.
Explanation:
If a gross profit on sales is generated in the process of selling an item of property, plant and equipment, but additional expenses are also incurred, the only thing that is recognized in the income statement is the net profit.
Among the accounts of the income statement, only one record is made with the net profit that occurred in the process of the sale of the asset. Although the final effect on the income statement is the same as it had under the old regulatory framework, it can be said that with that single record among the income statements, what is sought is that high gross income and expenses are not shown high, as this could distort the different financial analyzes that will be carried out at the end of the year.
Financial incomes other than scholarships can be included in the calculation of gross income.
<u>Explanation: </u>
The gross revenue, cost of sold goods marks the gross income for a business which is also known as gross margin. It does not include all the other costs in running the business.
For an individual, gross income is the total financial income that he/she receives before paying tax or other deductions is known as gross income or gross pay. It not only includes wages and salary but also the other incomes namely alimony, pension, tips, rental income, investment income, capital gains and dividends.
