Answer:
The retained earnings statement showed a closing retained earnings of $226,120.00 as at 2017 year end.
Explanation:
In arriving at the closing retained earnings , I treated prior items retrospectively- that is as if the impact of such items have been in the accounts from day one,less the tax effect of all items involved.
For instance ,I deducted the understatement of depreciation in 2015 less of tax impact of 40%
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Answer:
Roman philosopher Seneca once said, “Luck is what happens when preparation meets opportunity.”
Explanation:
Answer:
sources of business revenue
Explanation:
Revenue is the money a business gets from its normal trading activities. It is the income a business obtains through the sales of goods and services to customers. Revenue includes discounts received and purchase returns.
The sale of an asset is revenue to a business because it will receive money from the transaction. Usage fees, Brokerage fees, and advertising are money that businesses receive for offering services.
Answer:
i think your answer is correct
Explanation:
hello
Answer and Explanation:
The computations are shown below:
1. For annual implicit cost
= Earning annual salary + earned annual interest
= $80,000 + $500
= $80,500
2. For Annual accounting cost
= Explicit cost
= Direct expenses
= Office rent + rent of equipment + supplies + utilities + salary of a book keeper
= $15,000 + $3,000 + $1,000 + $1,200 + $35,000
= $55,200
3. For economic cost
= Accounting cost + implicit cost
= $55,200 + $80,500
= $135,700
4. For revenue
= Accounting profit + profit
= $55,200 + $50,000
= $105,200
5. For revenue
= Economic cost + profit
= $135,700 + $50,000
= $185,700
