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3 years ago

A source can either be primary or secondary. True or false

Business

2 answers:

horsena [70]3 years ago

5 0

True, Is the correct answer.

hammer [34]3 years ago

3 0

The answer is True a source can be either primary or secondary.

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In its first year of operations, Roma Company reports the following:

Vlad [161]

Answer:

Net Income - Cash basis = $10000

Net Income - Accrual basis = $19500

Explanation:

The cash basis of accounting accounts for transactions that occured in cash in the period when cash changes hand. This means that transactions are recorded when the cash is paid or received rather than to the period to which they actually relate to.

Cash basis net income will be,

Net Income = 37000 - 20250 - 6750

Net Income - Cash basis = $10000

The accrual basis of accounting follows that the transactions should be recorded in the period to which they relate to rather then when the cash is paid out or received.

Accrual basis Net income will be,

Net Income - Accrual basis = 45000 - 25500

Net Income - Accrual basis = $19500

7 0

3 years ago

A part of a business's message that distinguishes it from all its competitors

stepan [7]

Answer:

Unique selling proposition.

8 0

3 years ago

Read 2 more answers

For Sunland Co., beginning capital balances on January 1, 2020, are Nancy Payne $18,900 and Ann Dody $24,000. During the year, d

natita [175]

Answer and Explanation:

The preparation of the partner capital statement and the owner equity section is presented below:

Partner capital statement

Particulars N. Payne Ann Dody Total

Beginning

balance $18,900 $24,000 $42,900

Less: Drawings -$8,700 -$5,200 -$13,900

Balance left $10,200 $18,800 $29,000

Add: Net income

share 50% 50% $14,350 $14,350 $28,700

ending balance $24,550 $33,150 $57,700

Now the balance sheet is

Sunland Co,

Partial balance sheet

Dec 31,2020

Owner capital

Partner capital balance $29,000

Add: Net income $28,700

Total owner equity $57,700

7 0

2 years ago

Partners Gary and Elaine have agreed to share profits and 1osses in an 80:20 ratio respectively, after Gary is allowed a salary

Verizon [17]

Answer:

E) None of the above

Explanation:

In partnership, the partners earn profit. The salary allowances are considered as though paid to a third party and are considered before arriving at the net income.

As such, given that net income is $30,000 and is to be shared in the ratio 80:20 between Gary and Elaine respectively.

Elaine's share = (20/100) × $30,000

= $6,000

5 0

3 years ago

Choose all that apply.

Dima020 [189]

1.tracking your spending 2.avoiding impulse purchases 3.using credit cards infrequently

4 0

3 years ago

Read 2 more answers