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3 years ago

Companies report prior period adjustments, net of any income tax effects in the:

1 answer:

8 0

Companies report prior period adjustments, net of any income tax effects in the single-step income statement.
A single step income statement is one of two commonly used formats for the income statement or profit and loss statement. It uses only one subtraction to arrive at net income. On the other hand, a multi-step statement reveals the company's gross profit, which is the difference between its sales revenue and its cost of goods sold, and operating profit, which is the difference between its gross profit and its operating expenses.

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Which of the following is the most important factor in successful new-product introduction? Group of answer choices The new pro

exis [7]

Answer:

The correct answer is letter "B": The new product should deliver a meaningful and perceivable benefit to a sizable number of people.

Explanation:

A new product is a good or service that is going to be introduced to the market to satisfy the need for a specific sector. <em>For the new product to be successful, the need that it satisfies should represent a benefit for the target audience great enough to make them pay for it</em>. Besides, the new good or service must bring a differential feature to consider it more attractive compared to competitors or similar products that might already exist.

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3 years ago

Read 2 more answers

The richest 1% of the world's population owns more wealth than the rest of the 99% combined. True or False

zimovet [89]

The distribution of wealth on Earth is such that the richest 1% are wealthier than the rest of the 99% combined so this is <u>True</u>.

<h3>How is income distributed?</h3>

The top 1% of the human population are so wealthier that they own more than the combined assets of the other 99%.

This was confirmed in 2016 by Oxfam, and the scary part is that this trend is set to continue.

Find out more on income distribution at brainly.com/question/4993794

#SPJ1

5 0

1 year ago

Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received

Olegator [25]

Answer:

The after-tax cost is $23,940

Explanation:

For computing the after-tax cost, first we have to compute the present value which is shown below:

Present value = Bill payment × marginal tax rate

= $38,000 × 37%

= $14,060

So, after tax value would equal to

= Bill payment or Pre tax value - Present value

= $38,000 - $14,060

= $23,940

8 0

3 years ago

Arundel Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts Receivable has

Ipatiy [6.2K]

Answer:

After the adjusting entry is made, Allowance for Doubtful Accounts balance is a credit balance of $22,290

Explanation:

Arundel Company uses aging to estimate uncollectibles.

Estimated uncollectibles = $250,000 x ( 1 - 99.5%) + $70,000 x (1 - 91%) + $30,000 x (1 - 73%) + $8,000 x (1 - 17%) = $1250 + $6,300 + $8,100 + $6,640 = $22,290

The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000.

Bad debt Expense = $22,290 + $2,000 = $24,290

The adjusting entry:

Debit Bad debt Expense $24,290

Credit Allowance for Doubtful Accounts $24,290

After the adjusting entry is made, Allowance for Doubtful Accounts balance is a credit balance of $22,290

4 0

3 years ago

What is the first account number used in the liabilities division? A. 20 C. 2 B. 21 D. 02

zepelin [54]

Answer:

the answer is A. 20

Explanation:

7 0

3 years ago