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Flura [38]
3 years ago
12

Were taxes are recorded on the income and expense statement ​

Business
1 answer:
podryga [215]3 years ago
8 0

Answer:

Debit side of the income and expense statement

Explanation:

Tax is an expense. An expense should be recorded on the debit side of the income and expense statement.

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A measure of the burden of continual deficit financing over time is the ratio of:.
Ksju [112]

Answer:

Explanation:

the debt to the GBP

8 0
1 year ago
A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for $23,649 repres
Alexus [3.1K]

Answer:

a. $(3,881)

Explanation:

Gain on sale of fixed assets is an income. To be included in the operating section of the cash flow statement, we need to deduct the gain. The disposal of the fixed assets will go to the investing section. As the gain of the sale of assets is already added to the net income in the income statement, it will be deducted to make the accounting procedure transparent. Therefore, <em>option A</em> is correct.

6 0
3 years ago
The price of diamonds is high, in part because the majority of the world’s diamonds are controlled by a single firm. This is an
kirill115 [55]

Answer:

Option (b) is correct.

Explanation:

This is a case of monopoly market condition where there is a single firm operating the whole market. The price of the products is set by the single firm and the buyers in this market are price taker. The monopolist can earn normal profit, losses and abnormal profit in the short run and can earn normal profit and abnormal profit in the long run.

In our case, the price of diamonds is high because there is only single firm in the whole market and there is no other competitors in the market. That's why they are charging the higher prices.

5 0
3 years ago
Are the materials costs and processing costs relevant in the choice between alternatives A and B?
podryga [215]

Answer:

Please see explanation.

Explanation:

Material Cost = A cost which is used to prepare a goods or services is termed as material cost.

Processing Cost = When a cost incurs to satisfy customers want from taking orders to ensuring product delivery, it is called processing cost. It includes taking order, tracking, keeping and maintaining inventories, manufacturing products, customer support, and product delivery.

When there are two alternatives including processing and material costs, we have to use three scenarios:

A) In both the alternatives, the material cost is $50,000 and $55,000. The processing cost is $40,000 and $45,000.

In that case, since material cost and processing cost vary from one alternative to another, both the cost are relevant.

B) In both the alternatives, the material cost is $50,000 and $50,000. The processing cost is $40,000 and $45,000.

In that case, since the cost for material in alternative A and B is similar while the processing cost is different, therefore, only processing cost is relevant.

C) In both the alternatives, the material cost is $50,000 and $55,000. The processing cost is $40,000 and $40,000.

In that case, since the cost for material in both the alternatives are different while the processing cost is similar, only material cost is relevant.

4 0
2 years ago
In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Swedish adult non-institutionalized po
11Alexandr11 [23.1K]

Answer:

a. 64.6% and 8.2%

Explanation:

The computation is shown below:

For labor force participation rate

= Labor force ÷ Total population × 100

= 4.888 million ÷ 7.568 million

= 64.60%

And, the unemployment rate is

But before that the employment rate is

= Labor employed ÷ labor force × 100

= 4.486 million ÷ 4.888 million

= 91.77%

Now the  unemployment rate is

= 100% - employment rate

= 100% - 91.77%

= 8.2%

5 0
3 years ago
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