Answer:
Accrual basis of accounting
Explanation:
As we know that the income statement only reports the total expenses incurred and total revenues generated in a given period of time.
This accounting basis refers to the reporting of the transactions when they are earned or incurred instead of received or paid.
In this, it also follows the matching principle that stated the expenses should be matched with the revenues of the same period.
Answer:
a. $30,400
b. $10,394
c. $16,830
d. $8,015
e. $76,626
Explanation:
a. Amount to be paid in full settlement = Merchandise - Returns and Allowance
= ($32,000 - $1,600)
= $30,400
b. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 2%) + Freight Paid by Seller
= ($12,800 - $2,500) - ($10,300 × 2%) + $300
= $10,300 - $206 + $300
= $10,394
c. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 1%)
= ($21,000 - $4,000) - (17,000 × 1%)
= $17,000 - $170
= $16,830
d. Amount to be paid in full settlement = (Merchandise - Returns and Allowance) - (Remaining balance × 2%) + Freight Paid by Seller
= ($9,000 - $1,000) - ($8,000 × 2%) + $175
= $8,000 - $160 + $175
= $8,015
e. Amount to be paid in full settlement = Merchandise - (Merchandise × 1%)
= $77,400 - ($77,400 × 1%)
= $77,400 - $774
= $76,626
Answer:
a. $1,32
Explanation:
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Basic Earning per Share = Earnings attributable to Common Stockholders ÷ Weighted Average Number of Common Stocks outstanding
<em>Workings</em>
Basic Earning per Share = [$1,230,000 - ($1,990,000 x 7% x 80%) - ($4,110,000 x 7%)] ÷ 627,000 =
Diluted Earning per Share = Adjusted Earnings attributable to Common Stockholders ÷ Adjusted Weighted Average Number of Common Stocks outstanding
Answer: 14.5%
Explanation:
The after tax return is calculated by the formula:
= Before tax return * (1 - federal tax) * (1 - State tax)
As we have the after tax return, we should work on the before tax:
9% = Before tax return * (1 - 34%) * (1 - 6%)
9% = Before tax return * 0.6204
Before tax return = 9% / 0.6204
= 14.5%
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