Answer:
Option E: $40,000 - Cash from sale of Machine
Explanation:
Cash flow from Investing activities section of the cash flow statement should include cash received on the sale of property, plant & equipment, cash paid to acquire property, plant & equipment, cash paid for investments in or as loans to other companies and dividends received from any investments.
In case of sale of a Machine, $40,000 received on sale should be reported as source of cash in the cash flows from investing activities section.
Answer:
The correct answer is option d.
Explanation:
The total economic costs include both explicit as well as implicit costs. The explicit costs are the direct costs incurred and the implicit costs are opportunity costs.
An increase in the opportunity cost will cause the total economic costs to increase. The net benefit is the difference between the total revenue earned and the total cost incurred. An increase in the opportunity cost will cause a net benefit to decrease as total costs will increase.
The money a person gains after paying a citizens fee ( or for owning property or a building).
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Answer:
Revenues are Credited, Expenses are Debited and the difference of Revenue and Expenses is credited in the Retained Earnings.
Explanation:
The revenue and retained earnings account are credit in nature and expenses are debit in nature.
This can be Explained from the following equation:
Closing Equity = Opening Equity + (Revenue - Expenses)
Closing Equity - Opening Equity = (Revenue - Expenses)
Earnings Retained by the Company = (Revenue - Expenses)
So the difference of the revenues and expenses goes to retained earnings. If the answer of the difference is positive then the retained earnings are credited otherwise it is credited. So as I said that revenues are credit in nature so if their is profit (credit is in access of debit or in other words revenues are in excess of expenses) then the retained earnings will be credited and if their is a loss then the retained earnings account will be debited.
