Answer:
both income from operations and gross profit.
Explanation:
As we know that
The income statement recognized the revenues earned and the expenses incurred for a particular period
And the multiple-step income statement refers to the classification of expenses like
The format is shown below:
Sales XXXXX
Less: Cost of goods sold XXXXX
Gross profit XXXXX
Less: Operating expenses
Administrative expenses XXXXX
Selling expenses XXXXX
Operating income XXXXX
Non operating income or others
Less: Interest expense XXXXX
Rent revenue XXXXX
Net income XXXXX
Therefore, the third option is correct
The AAA payed farmers to reduce their production in order to raise prices.
From the information given, the balance that will be in the capital account of Thurman at the end of the second year will be $132860.
The partners account at the end of the second year for Thurman will be calculated thus:
- Beginning capital = $126100
- Add: Net income = $19760
- Less: Drawings = $13000
Therefore, the balance in the account will be $132860.
Read related link on:
brainly.com/question/25758372
Answer:
A) fewer jobs will be created in the United States.
B) companies have increased organizational costs, including insurance costs.
C) there is less global trade.
Explanation:
When war and terrorism run rampant, there are a lot of economic sectors that would experience an increase in demand. Example of this would be tourism And hospitality industry. Nobody really want to have a vacation during wars. So this will made companies in this industry forced to cut off a lot of their employees.
During war, there are also a threat of attacks to the countries that might destroyed a lot of properties owned by the companies. This is why the insurance costs tend to be increased.
War and terrorism tend to resulted in several alliances between different countries. This also could make relationships between countries that previously act as trading partners became strained.
Answer: as a current liability
Explanation:
From the question, we are given the information that Orear Manufacturing signed a contract with a supplier to buy raw materials in 2021 for $700,000 and before the December 31, 2020 balance sheet date, the market price for these materials dropped to $510,000.
The journal entry to record this situation at December 31, 2020 will result in a credit that should be reported in the current liability. It should be noted that current liabilities are the liabilities for the financial obligations for a company on a short-term basis which are normally due within a period of one year.
Examples of current liabilities are accruwed expenses, accounts payables, short-term debt, and dividends payable.
