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erastova [34]
2 years ago
14

Identifying Financial Statement Line Items and Accounts Several line items and account titles are listed below. For each, indica

te in which of the following financial statement(s) we would likely find the item or account: income statement (IS), balance sheet (BS), statement of stockholders' equity (SE), or statement of cash flows (SCF). (Select all that apply.) Account Financial Statement(s) (a) Cash asset Answer (b) Expenses Answer (c) Noncash assets Answer (d) Contributed capital Answer (e) Cash outflow for capital expenditures Answer (f) Retained earnings Answer (g) Cash inflow for stock issued Answer (h) Cash outflow for dividends Answer (i) Net income Answer
Business
1 answer:
Anni [7]2 years ago
8 0

Answer:

Explanation: Financial Statement

the financial statement is an annual statement stating the financial position of an organisation

Under the financial statement we have:

1. Income Statement: Expenses, Net Income

2. Balanced Sheet: Cash Asset, Non cash Asset, Retained Earnings

3. Statement of stockholders equity: Contributed Capital, cash inflow for stock issued, cash outflow for dividends

4. Statement of cash flow: cash flow for capital expenditures

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Sally opened her own business and resigned from a job paying $25,000 per year. Her savings acccount pays 8% interest, but she wi
DiKsa [7]

Answer:

A) They would be indifferent, as Sally's income net of costs equals $25,000.

Explanation:

Sally's economic profit = accounting profit - opportunity costs

  • accounting profit = $12,000
  • opportunity costs = $25,000 - $15,000 in lost salaries + $2,000 (lost investment revenue) = $12,000

economic profit = $12,000 - $12,000 = $0

Since the economic profit is $0, Sally should be indifferent between running her own business or working for someone else.

7 0
2 years ago
Which is the best answer choice for the question? To be deductible as the cost of special work clothing or uniforms: a. The clot
larisa [96]

Answer:

a. The clothing must not be suitable for everyday use and must be required as a condition of the job.

Explanation:

For the cost of special work clothes or uniforms to be deductible by the IRS, there must be a number of requirements, it is necessary that work clothes are required as a working condition and that the clothes are used only in the work environment, and not for the employee's personal use.

It is also necessary that the uniforms guarantee the conditions in accordance with the function performed, adding protection instruments when necessary for the health and safety of the employee, in addition, the costs with work clothes can be deductible when they present company logos by example, attesting that such clothing is not for personal use outside the workplace.

4 0
3 years ago
Jim is one of several general partners who own beef n beer, a small chain of restaurants located in missouri and illinois. jim i
navik [9.2K]
If Jim was able to convince other partners to go along with his idea, then it is most likely that the beef n beer will could have the ability to gain shares of ownership traded on a stock exchange, it could be same as a corporation because the corporation could provide that. For having a master limited partnership enables Jim to have publicly traded securities, as well as having benefits in terms of the tax.
5 0
2 years ago
San Ruiz Interiors provides design services to residential and commercial clients. The residential services produce a contributi
Sliva [168]

Answer:

If closed the operating income  will decrease by 50,000

Is a better scenario to continue with the residential sercives

Explanation:

<em><u>current scenario:</u></em>

contribution margin 450,000

Fixed Cost 480,000

net loss 30,000

<em><u>drop scenario:</u></em>

contribution margin = 0

fixed cost 450,000-370,000 = 80,000

net loss (80,000)

8 0
3 years ago
Jesse wants my thoughts on how we can use prototyping for tims. she also wants me to prepare a system requirements document and
svp [43]

When prototyping new products, most people will want a presentation on what the prototype will look like, the functions, the benefits, how it differs from previous products or other companies' products and the pricing. A management presentation is important because it should help break down all the information needed before approval of the new product is approved.

4 0
2 years ago
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