Answer:
Single step income statement
Explanation:
The single step income statement is the simplest form in which an income statement is prepared, e.g.
Revenues:
- Sales revenues $100
- Interest income $20 $120
Expenses:
- Rent expense $30
- Utilities expense $10
- Wages and salaries $60 <u>($100)</u>
Income before taxes $20
Tax expenses <u> ($4.20)</u>
Net income $15.80
A multi-step income statement is more complex, since operating revenues and costs are reported first in order to determine operating income, then other revenues and expenses are introduced and income before taxes is calculated.
Answer:
$24135.72
Explanation:
Given pmt 320, r 9% n 5 years
This amount is paid monthly s\and there are 12 months in a year
r = 9%/12 =0.75%
n = 5* 12 =60
We will use the future value of annuity
FV = pmt *[(1+r)^n - 1/r)]
= 320 *[(1+0.0075)^60-1/0.0075
=$24135.72
The answer is b many people want this product and havent purchased it yet
True Some no activist believe in a predetermined money growth rate
