The income statement shows a detailed picture of the transactions of all revenue and expenses. The income summary account then summarizes these figures in order to produce the statement of retained earnings. Both the income statement and income summary show the revenue and expenses of a company.
2 everything is technically about technology
GDP (gross domestic product) is one of the primary factors used to test the countries economic health. It represents the total dollar value of all goods and services produced over a specific period.
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Answer:
all these are included in the gross income
Explanation:
given data
damages = $36,250
emotional distress = $10,100
punitive damages = $58,200
to find out
What amount must Paul include in his gross income
solution
we know according to the tax laws that specify only payment on account of (1) physical injury and (2) physical sickness is non taxable
so here taxpayers receive
they are not associate with the physical injury so all these mentioned are not covered in physical damages
so we can say that all these are included in the gross income
Answer:
A. compound journal entry
Explanation:
Compound journal entry -
It refers to the type of accounting entry , which consists of more than one debit or credit , is referred to as compound journal entry .
It is the combination of various simple journal entries together to form a compound journal entry .
Hence , from the given information of the question,
The correct option is A. compound journal entry .
