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3 years ago

When is a budget considered to be balanced??

1 answer:

7 0

A budget is said to be balanced when total revenues are equal to, or greater than total expenditures; i.e when there's no budget deficit. Budget deficit, by contrast, is the result of expenses toppling revenues. Revenue is the income a business, company, or government generates from its normal or tax activities, also referred to as a turnover; while expenditures is cost incurred or required for something, say a project. When the budget has nothing to offset, or when there's a budget surplus i.e when revenues exceed expenses, then the budget is said to be balanced.

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Large cities from coast to coast enact laws about ads in the daily papers. Find the noun preposition adjective and verb

lions [1.4K]

Answer:

noun cities , ads

preposition in , from , to

adjective large

verb enact

Explanation:

6 0

4 years ago

At the end of April, the first month of the company's year, the usual adjusting entry transferring rent earned to a revenue acco

valina [46]

Answer:

According to the information provided is possible to conclude that in both options the indicators are understated

Explanation:

(a) Rent revenue (or revenues) will be understated. Net income will be understated.

(b) Retained earnings at the end of the period will be understated. Unearned rent (or liabilities) will be overstated.

7 0

3 years ago

At the breakeven point, a. profits are exactly equal to the difference between revenue and total variable costs. b. the money a

SSSSS [86.1K]

Answer:

b. the money a company brings in from selling products equals the amount spent producing the products

Explanation:

At the breakeven point, the money a company brings in from selling products equals the amount spent producing the products

6 0

4 years ago

Crane Company uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2019 tot

irina [24]

Answer:

$560

Explanation:

Add all the costs:

Materials $8,000

Labor $4,000

Overhead $1,000

And we will get the Total Manufacturing Cost of $13,000.

Then, add the Beginning Work in process of $5,000 to get the Cost of goods put into process of $18,000.

Now, deduct the Ending Work in process of $4,000 to get the Cost of goods manufactured of $14,000.

Since they promptly ships the goods, the $14,000 will automatically be the Cost of Goods Sold.

Finally, to get the cost per machine, just divide $14,000 by the 25 machines and we will get the $560 cost per machine.

8 0

3 years ago

Mill Construction Co. uses the percentage-of-completion method of accounting. During 20X5, Mill contracts to build an apartment

dezoksy [38]

Answer: $500,000

Explanation:

The difference between the contract amount and cost incurred is the profit in this case.

Profit from the project = $20mn-$16mn

=$4mn

In the above mentioned project only 12.5% complete at the end of 20X5 ($2mn/$16mn). Total gross profit through the end of 20X5 is therefore

=$4mn x 12.5%

=$500,000

The $500,000 amount is the proportion of completion applied to the total contract profit of $4mn. This is the beginning year of contract so there is no previous profits or expenses that needs to be adjusted. The entire $500,000 gross profit is recognized in 20X5.

5 0

4 years ago