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3 years ago

The financial statement that shows revenue and expenses for a period of time is the

Business

1 answer:

zavuch27 [327]3 years ago

8 0

The income statement reports revenues and expenses and the resulting net income

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Lacey Company prepared the tabulation below at December 31, 2022. Net Income $310,000

valentinak56 [21]

Answer:

Net cash provided by operating activities is $325,000.

Explanation:

Lacey Company

Cash Flow Statement (Operating Activities Only)

December 31, 2022.

Details Amount ($)

Net Income 310,000

Depreciation expense 45,000

Increase in accounts receivable (55,000)

Decrease in inventory 12,000

Increase in accounts payable 6,000

Increase in prepaid expenses (4,000)

Decrease in income taxes payable 3,500

Gain on disposal of land 7,500

Net cash provided (used) by operating activities  325,000 

5 0

3 years ago

When the price of a good or service is _________enough, it will encourage consumers to buy. However, the price also has to be __

asambeis [7]

Answer:

The correct words for the blank spaces are (in that order): low; high; opportunity; reservation.

Explanation:

For buyers and sellers to benefit from a transaction, the price of the goods or services offered must be at equilibrium. It implies the price is low enough for consumers to consider purchasing the product and high enough for producers to offer it earning a profit.

Besides, producers should consider their opportunity costs which are the costs of adding one more unit for production. On the other side of the road, consumers consumer their reservation price which is the maximum amount of money they could pay for a good or service based on the value they give to the product.

4 0

3 years ago

Which of the following is the purpose of requiring banks to keep a specific percentage of their deposits on hand in the vault? A

love history [14]

Answer:

A. To enable the government to calculate the bank's tax burden more easily

Explanation:

hope this helps

8 0

3 years ago

Read 2 more answers

2. What is the name of the tendency for your body to stay “in motion" through the air

REY [17]

Answer:

please mark as brainliest

Explanation:

ans: Inertia

Inertia is the tendency of a body in motion to remain in motion through the air.

7 0

3 years ago

A firm has common stock of $6,200, paid-in surplus of $9,100, total liabilities of $8,400, current assets of $5,900, and fixed a

melamori03 [73]

Answer:

$18,700

Explanation:

In this question, we applied the accounting equation which is presented below:

Total assets = Total liabilities + shareholder equity

where,

Total assets = Current assets + fixed assets

= $5,900 + $21,200

= $27,100

And, the Total liabilities is $8,400

So, the shareholders' equity would be

= $27,100 - $8,400

= $18,700

7 0

3 years ago