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1 year ago

General-purpose financial statements are the product of:____.

Business

1 answer:

Neko [114]1 year ago

5 0

General-purpose financial statements are the product of: <u>both financial and managerial accounting.</u>

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<h3>What is the definition of general purpose financial statements?</h3>

The general definition of financial statements is to provide information about the effects of operations, financial position, and cash flows of an organization. This information is employed by the readers of financial statements to make judgments regarding the allocation of resources.

<h3>What are the three general objective financial statements?</h3>

The balance sheet, income statement, and cash flow information each offer unique pieces with information that is all connected. Together the three statements give a comprehensive portrait of the company's working activities.

To learn more about financial position, refer

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Getaway Travel Company reported net income for 2016 in the amount of $50,000. During 2016, Getaway declared and paid $2,000 in c

PSYCHO15rus [73]

Answer:

Option (B) is correct.

Explanation:

Given that,

Net income = 50,000

Preferred dividend = 2,000

Outstanding common stock:

= (40,000 × 2) + (10,000 × 6/12 × 2)

= 80,000 + 10,000

= 90,000

2016 basic earnings per share:

= (Net income - Preferred dividend) ÷ Outstanding common stock

= (50,000 - 2,000) ÷ 90,000

= 48,000 ÷ 90,000

= $0.53 per share

Therefore, the 2016 basic earnings per share is $0.53.

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3 years ago

Lara Technologies is considering a cash outlay of $227,000 for the purchase of land, which it could lease out for $36,150 per ye

HACTEHA [7]

Answer:

the opportunity cost of the land purchase is $34,050

Explanation:

The computation of the opportunity cost of the land purchase is shown below;

= Cash outlay × return percentage

= $227,000 × 15%

= $34,050

Hence the opportunity cost of the land purchase is $34,050

We simply multiplied the cash outlay with the return percentage so the same would be calculated

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2 years ago

Dannon Co. reported its expenses of $35,200 on the cash basis. Corporate records revealed the following information: Beginning p

Elena-2011 [213]

Answer:

Explanation:

The computation of expense amount is shown below:

= Expenses - adjusted prepaid expense + adjusted accrued expense

= $35,200 - $500 - $450

= $34,250

The adjusted prepaid expense is computed by

= Ending balance of prepaid expense - beginning balance of prepaid expense

= $1,800 - $1,300

= $500

And, the The adjusted accrued expense is computed by

= Ending balance of accrued expense - beginning balance of accrued expense

= $1,200 - $1,650

= -$450

8 0

2 years ago

Compute the payback period for each of these two separate investments: A new operating system for an existing machine is expecte

labwork [276]

Answer:

Project A's payback period = 2.23 years

Project B's payback period = 3.3 years

Explanation:

project A project B

initial investment $290,000 $210,000

useful life 6 years 11 years

yearly cash flow $83,653 + $46,500 $46,000 + $17,727

= $130,153 = $63,727

salvage value $11,000 $15,000

payback period $290,000 / $130,153 $210,000 / $63,727

= 2.23 years = 3.3 years

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3 years ago

Each of the following is a type of homework except?

Tcecarenko [31]

Answer: concentration

Homework has this basic purposes: 1) practice 2) preparation 3) study, extend or elaborate, and integrate

Homework aims s to help students to strengthen what they learned in class and also to gather extra information beyond what is thought and integrate them into their everyday lives.

Concentration is not included to the type of homework.

6 0

2 years ago