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2 years ago

Financial statements can be prepared _____. (select all that apply.) multiple select question.

1 answer:

8 0

Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.

<h3>What is financial statement?</h3>

Financial statement help to summarize the financial position of a business and it as well help to show the day to day transaction of a company or day to day activities of a business at a particular period of time.

Financial statement of a company can be prepared more that once in a year and financial statement may tend to have fiscal year end that is other than last month of the year which is 31st December.

Therefore Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.

Learn more about financial statement here:brainly.com/question/21307159

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The complete question is:

Financial statements ______. (Select all that apply.)

a. must have a calendar year end of December 31

b. may be prepared more than once a year

c. may have a fiscal year end other than December 31

d. are prepared just once a year

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Assuming the Fashion line is discontinued, total fixed costs remain unchanged, and the space formerly used to produce the Fashio

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Answer:

A) Increase $137,500

Explanation:

Calculation for how will operating income be affected

CHANGE IN OPERATING INCOME

Sales Revenue (Additional) $850,000

(250 %* 340,000)

Less Variable expenses (Additional) ($587,500)

(250 % *$ 235,000)

Contribution Margin $ 262,500

($850,000-$587,500)

Less Fixed Expenses ($76,000)

($262,500-$76,000)

Operating Income $ 186,500

( $ 262,500-$76,000)

Less Previous Operating Income ($49,000)

Operating Income $137,500 Increase

($ 186,500-$49,000)

Therefore the operating income will increase by $137,500

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3 years ago

13) Suppose that there is a positive aggregate demand shock and the central bank commits to an inflation rate target. If the com

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Answer:

C) over time inflation will fall back down to the inflation target.

Explanation:

In the scenario, there is a positive aggregate demand shock which will lead to inflation because prices of goods will rise as aggregate demand increases with supply being unchanged

<u>A demand shock is a sudden event that increases or decreases demand for goods or services temporarily. A positive demand shock increases aggregate demand and a negative demand shock decreases aggregate demand. </u>

<u>Therefore there will be an initial inflation with the shock but since demand shocks are temporary and the central bank commits to an inflation rate target, then over time inflation will fall back down to the inflation target.</u>

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3 years ago

Prepare a check stub and check using the information given here:

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Answer:

Answer is explained in the explanation section below.

Explanation:

Note: This question is incomplete and lacks the figure of check to which we have to fill the requirements. However, I have found a similar check on the internet and will be solving this question accordingly.

Date: 11/05/20xx (Put current year in this, whatever it is)

To: Naples Supply

For: Supply of Goods.

Balance Brought Forward = $ 11,060.00

Amount deposited = $ 3,484.00 (is made on the Dec, 05, 20xx, as we don't know the current year)

Sub Total= $ 14,544.00 (Balance Brought Forward + Amount deposited)

Others ,

Check dishonored plus fees= $ 150.00 + $25.00 = $175.00

Sub Total= $ 14,369.00 ($14,544 - $175)

Amount issued to Naples Supply = $160.00

Balance carried Forward= $ 14,209.00 ($14,369 - $160)

Similarly,

Date: 11/05/20xx (Put current year whatever it is)

Pay to the order of: Naples Supply

Amount in words : One hundred and sixty dollars only.

For the purpose of : Supply of goods

Finally,

A sign, on the check.

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3 years ago

B. Federal Reserve Chair Jerome Powell has hinted that a long run inflation rate target of 2% is the guide he uses for monetary

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Answer:

will, real economic growth is positive in the long run.

Lower; creditors to debtors.

Explanation:

Theory of money is the economical view that the inflation is dependent on the money supply in the country. When the money supply is higher then inflation will be lowered and purchasing power of the consumer will be high. When inflation is set to a minimum possible rate then real economic growth will be positive in the long run and negative in the short run.

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3 years ago

Point Company paid $4,000 cash to purchase a new machine. The company also paid $500 cash for an initial training cost that was

avanturin [10]

Answer:

Explanation:

The journal entry is shown below:

Machine A/c Dr $4,500

To Cash A/c $4,500

(Being machinery is purchased for cash)

The total amount of machinery purchased cost is shown below:

= Purchase cost of machine + training cost

= $4,000 + $500

= $4,500

Since the machine is purchased for cash so we debited the machine account and credited the cash account as cash

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4 years ago