Answer:
a. Balance Sheet
Explanation:
The balance sheet reports the total assets, total liabilities and stockholder equity.
The total asset is comprised of the current asset, fixed assets, and the intangible asset
The total liabilities comprise of current liabilities and long term liabilities
The aim to make the balance sheet is to analyze the liquidity, financial performance, position of the company
Whereas the cash flow statement shows the inflow and outflow of cash and the income statement records total revenues and total expenditures.
Answer:
take inventory on how much product he has and how much he needs
Explanation:
Answer:
2016: $300 million; 40%; $60 million
2017: $450 million; 60%; $90 million
Explanation:
Total costs:
= Costs incurred in 2016 + Costs incurred in 2017
= $240 + $360
= $600
In 2016:
Percent of total excepted costs:
= Costs incurred in 2016 ÷ Total costs
= $240 ÷ $600
= 0.4 or 40%
Revenue recognized:
= Percent of total excepted cost × Contract price
= 0.4 × $750 million
= $300 million
Income = Revenue recognized - Costs incurred in 2016
= $300 million - $240 million
= $60 million
In 2017:
Percent of total excepted costs:
= Costs incurred in 2017 ÷ Total costs
= $360 ÷ $600
= 0.6 or 60%
Revenue recognized:
= Percent of total excepted cost × Contract price
= 0.6 × $750 million
= $450 million
Income = Revenue recognized - Costs incurred in 2017
= $450 million - $360 million
= $90 million
Hoover raised the prices of wheat and grains during World War 1 in order to incentivize farmers to produce more for the market.
