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maks197457 [2]
1 year ago
9

4. when the total expenses are greater than the total revenues, (a) the income summary account has a credit balance. (b) the inc

ome summary account has a debit balance. (c) debits equal credits. (d) none of these.
Business
1 answer:
irina [24]1 year ago
6 0

When the total expenses are greater than the total revenues, then the income summary account has a debit balance.

An income summary account is a temporary account in which the revenue and expenses closing entries are entered to find out the profit or loss.

In the income summary account, all the revenue account closing entries are credited, and all the expenses closing entries are on the debit side.

Thus, if the credit balance is more than the debit balance, it shows the profit and if the debit balance is more than the credit balance, it shows the loss.

Learn more about "Income summary":

brainly.com/question/9122916

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the country of doomsville is currently in a recession. the government of doomsville, in an effort to maintain its tax revenues i
harina [27]

Answer:

This policy would likely make Doomsville's recession worse.

Explanation:

Hope this helps, Have a great morning/night! :D

6 0
3 years ago
Dennis Kozlowski, John Thain, and Raj Rajaratnam are former CEOs mentioned in the text that have been involved in corporate gove
denpristay [2]

Answer:

Dennis Kozlowski was found guilty of grand larceny, falsifying business records, securities fraud, and conspiracy.  He later admitted to have been driven by excessive greed as he overcompensated himself when he served as CEO of Tyco.

Explanation:

Dennis Kozlowski during his crime trial was found to have received "$81 million in unauthorized bonuses, the purchase of art for $14.725 million, and the payment by Tyco of a $20 million investment banking fee to Frank Walsh, a former Tyco director," according to wikipedia.com.

4 0
3 years ago
A corporation can earn 7.5% if it invests in municipal bonds. The corporation can also earn 8.40% (before-tax) by investing in p
Lostsunrise [7]

Answer:

A tax rate of 10.71% should make both both indifferent for investors.

Explanation:

the municipal bonds are income-tax free so we should solve for the tax rate which makes both bonds equaly attractive.

0.075 = after-tax rate

0.084 = pre-tax rate

pre-tax (1- t) = after-tax\\0.084 (1-t) = 0.075\\1 - t = 0.075 \div 0.084\\t = 1 - 0.075 \div 0.084\\t = 0.10714285

A tax rate of 10.71% should make both both indifferent for investors.

4 0
3 years ago
If sales are $803,000, variable costs are 66% of sales, and operating income is $262,000, what is the contribution margin ratio
vfiekz [6]

Answer:

34%

Explanation:

The formula to calculate the contribution margin ratio is:

Contribution margin ratio= (Sales – variable expenses)/sales

Sales=$803,000

Variable expenses=$803,000*66%=$529,980

Now, you can replace the values:

Contribution margin ratio=($803,000-$529,980)/$803,000

Contribution margin ratio=0.34

According to this, the answer is that the contribution margin ratio is 34%.

7 0
3 years ago
"Which bond recommendation would be the LEAST safe for an individual who seeks income that is free from federal income tax?"
topjm [15]

Answer:

A. AA-rated revenue bond that is escrowed to maturity

Explanation:

As first option is the bond that the issuer of bond called back prior to the matured. It occurs when there is a fall in the rate of interest

The second option is backup by a pledge that involves full trust and contains the secure option that enables an individual free from the federal income tax

The third option are issued by the authorities that are local and governed by the U.S government so it become secure that enables an individual free from the federal income tax

The fourth option is the mix of revenue bonds and the obligation bonds hat involves full trust and contains the secure option that enables an individual free from the federal income tax

7 0
3 years ago
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