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2 years ago

Which are my revenues and which are my expenses (besides ones that say expense)? And what should be my net income?

Business

1 answer:

Tasya [4]2 years ago

3 0

Rent expense, land purchased, utility, salary expense, accounts payable, dividend, salaries, insurance---that is your expense for the year. Look at your income is Retained earning, accounts receivable, service revenue, common stock. Add all the expense and subtract from earning that will be your net income.

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Assume PRC Corp., an equipment distributor, sells a piece of machinery with a list price of $600,000 to ACH Inc. ACH will pay $6

katen-ka-za [31]

Answer:

b. $600,000

Explanation:

The company has to record as revenue the product at the list price, then if exist a special discount on the price list, it must be record as discount applied to products in the Income Statement, separate of Revenue or Gross Sales.

The price that the company ACH pay by the product ($650,000) it's not at change on the price if not due to the payments term which is one year later, so the company ACH has to pay a financial cost because the payment will be made one year later.

6 0

3 years ago

The current and quick ratios help us measure a firm's liquidity. The current ratio measures the relationship of the firm's curre

inysia [295]

Answer:

True

Explanation:

Current Ratio: The current ratio shows a relationship between the current assets and the current liabilities. The formula is shown below:

Current ratio = (Total Current assets ÷ total current liabilities )

Quick Ratio: The quick ratio shows a relationship between the quick assets and the current liabilities. The formula is shown below:

Current ratio = (Quick assets ÷ total current liabilities)

where,

Quick assets = Current assets - inventories - prepaid insurance

So, the given statement is true

8 0

2 years ago

Company X had net income of $200,000 in the year 2016. At the beginning of 2016, there were 500,000 shares of outstanding common

EleoNora [17]

Answer:

Basic earning per share $0.21 per share

Explanation:

Basic Earning per share = ( Net Income - Preferred stock dividend ) / Weighted Average outstanding shares

Basic Earning per share = ( $200,000 - $50,000 ) / 700,000

Basic Earning per share = $150,000 / 700,000

Basic Earning per share = $0.2143 / share

Weighted average Outstanding shares = 500,000 + 200,000

Weighted average Outstanding shares = 700,000 shares

5 0

2 years ago

Sanchez Company's output for the current period was assigned a $400,000 standard direct labor cost. The direct labor variances i

o-na [289]

Answer:

$406,000

Explanation:

Calculation to determine the actual total direct labor cost for the current period

Using this formula

Actual direct labor cost=Standard direct labor cost + unfavorable rate variance - favorable efficiency variance

Let plug in the formula

Actual direct labor cost=$400,000 + $10,000 - $4,000

Actual direct labor cost= $406,000

Therefore the actual total direct labor cost for the current period is $406,000

5 0

3 years ago

components that should be included when compiling a report to the Minister of labour about employee profile in south Africa.

Snowcat [4.5K]

Components that should be included could be total number of employees, number of staff and numbers of hourly workers, length of employment for each worker, hourly rates for the hourly workers and pay raises according to the collective bargaining, and staff salaries, and productivity of say the hourly employees like in a mine, tonnes produced per manhour for the miners at the face or in the open pit for example.

7 0

2 years ago