Answer:
She better lease a car for work.
Explanation:
The most significant distinction between a lease and a rental agreement is the length of time they are valid for. In most cases, a rental agreement is for a short length of time (typically 30 days), but a lease contract is for a longer amount of time (generally 12 months, although 6 and 18-month leases are also frequent). So it's better to lease a car because you can use it longer.
Answer:
$12,000
Explanation:
total preferred dividends per year = 1,200 x $50 x 5% = $3,000
since they were not paid during the past three years, and they are cumulative, the total preferred dividends = $3,000 x 4 = $12,000
common stock dividends = total dividends - accumulated preferred dividends = $25,000 - $12,000 = $13,000
cumulative preferred stocks that are not paid in the past, must be paid before any common dividends are paid
Answer: D) It increases liabilities and decreases stockholders' equity by $1.2 million each.
Explanation:
Even though the company has not paid for the advertisement, the expense has already been incurred and by the Accrual principle of accounting it needs to be recorded.
It will therefore be recorded as an expense which will reduce the Income for the year which is a Stockholder equity account so therefore it will reduce the Stockholder account by $1.2 million.
Because the company has not yet paid for the advert, the amount have to be recorded as a liability to the company so liabilities will increase by $1.2 million.
If a firm collects $80 in revenue when it sells 4 units, $100 in revenue when it sells 5 units, and $120 in revenue when it sells 6 units, then one can infer the firm is a perfect competitor.
Turnover is the total amount of revenue generated from the sale of goods or services related to the company's main activities. Earnings, also known as gross earnings, are often referred to as the "top line" because they are at the top of the income statement. Income or Net Profit is the gross profit or profit of a business.
Simply put, revenue is how much money a company makes and profit is how much money a company can keep after paying all its expenses. Here's another example that clarifies where sales and profit are on the income statement. The black box at the top shows the gross or gross sales.
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