All categories

3 years ago

An accounting report that shows the changes in capital during the accounting period is a

Business

2 answers:

never [62]3 years ago

8 0

It is a statement of the owners equity. I hope this helps :)

netineya [11]3 years ago

6 0

C. Statement of owners equity.

You might be interested in

Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's

Damm [24]

Answer:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base (machine hours)

Explanation:

Giving the following information:

The company's predetermined overhead rate of $2.40 per machine-hour was based on a cost formula that estimates $192,000 of total manufacturing overhead for an estimated activity level of 80,000 machine-hours.

To allocated overhead costs to a specific job, you need to multiply the estimated rate for the number of machine-hours required for the job.

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base (machine hours)

5 0

3 years ago

Lyons Company deducts insurance expense of $210,000 for tax purposes in 2021, but the expense is not yet recognized for accounti

Goryan [66]

Answer:

$42,000

Explanation:

Deferred tax liability can be defined as the tax liability which has been due for the current period but has not yet been paid such as installment sales receivable.

Insurance expense of $210,000

Tax rate of 20%

( $210,000 × .20 )

=$42,000

Therefore the amount of the deferred tax liability at the end of 2021 will be $42,000

6 0

3 years ago

Which organization compiles data on individuals and businesses to report on their credit?

Tanya [424]

Answer:

Option A

Explanation:

There are primarily three credit bureaus to which the Lenders go namely -

a) TransUnion

b) Equifax

c) Experian

These three agencies are interested in reviewing credit reports before lending any financial aid.

Hence, option A is correct

3 0

3 years ago

Use the following selected balance sheet and income statement information for Caroline Supply Co. (in millions) to compute asset

lidiya [134]

Answer:

3.15 times

Explanation:

Asset turnover = Sales revenue / Average total assets

Asset turnover = $1,135,420 / $360,600

Asset turnover = 3.15 times

7 0

2 years ago

Freeman corp., a large corporation, plans to issue 45-day commercial paper with a par value of $3,000,000. freeman expects to se

fredd [130]

Answer:

The annualized cost of borrowing is 5.42%

Explanation:

The cost of borrowing is the finance charge which is the dollar amount of the loan that cost the person. Lenders usually charge what is referred to as the simple interest.

The formula to compute the same is as:

Principal x rate x time = Interest

where

Principal amount is $3,000,000

Rate is not known

Time is 45 days, So time is number of days borrowed divided by number of days in a year

Time = 45 / 365 days

Time = 0.123

Interest = Par value - Selling Value

Interest = $3,000,000 - $2,980,000

Interest = $20,000

Putting the value above:

Rate = Interest / Principal x Time

Rate = $20,000 / $3,000,000 x 0.123

Rate = $20,000 / $369,000

Rate = 5.42%

4 0

3 years ago