Income Approach seems to fit best but i'm not quite sure.
Sorry if it's wrong.
Answer:
The insurance expense on the annual income statement for the year ended December 31, 2019 will be D. $337.50
Explanation:
The company paid the $1,350 premium on a three-year insurance policy.
The insurance expense per year = $1,350/3 = $450
From April 1, 2019 to December 31, 2019, the company had bought the insurance for 9 months.
The insurance expense on the annual income statement for the year ended December 31, 2019 = $450/12x9 = $337.5
Diversifying. It is so that they can tap into other markets.
Answer:
1) I used an excel spreadsheet
2) a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $7,000 in cash along with equipment having a $3,000 value.
Dr Cash 7,000
Dr Equipment 3,000
Cr DeShawn Tyler, capital 10,000
b. On May 21, Elegant Lawns purchases office supplies on credit for $500.
Dr Office supplies 500
Cr Accounts payable 500
c. On May 25, Elegant Lawns receives $4,000 cash for performing landscaping services.
Dr Cash 4,000
Cr Landscaping Revenue 4,000
d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer.
Dr Cash 1,000
Cr Unearned Landscaping Revenue 1,000
3)
Cash (101)
debit credit
7,000
4,000
<u>1,000 </u>
12,000
Office Supplies (124)
debit credit
500
Equipment (167)
debit credit
3,000
Accounts Payable (201)
debit credit
500
Unearned Landscaping Revenue (236)
debit credit
1,000
D. Tyler, Capital (301)
debit credit
10,000
Landscaping Revenue (403)
debit credit
4,000
Answer:
Descriptions Terms a. Begins with net income and then lists adjustments to net income in order to arrive at operating cash flows. b. Item included in net income, but excluded from net operating cash flows. c. Net cash flows from operating activities divided by average total assets. d. Cash transactions involving lenders and investors. e. Cash transactions involving net income. f. Cash transactions for the purchase and sale of long-term assets. g. Purchase of long-term assets by issuing stock to seller. h. Shows the cash inflows and outflows from operations such as cash received from customers and cash paid for inventory, salaries, rent, interest, and taxes.
