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3 years ago

Ollie Company experienced the following events during its first-year operations:

Business

1 answer:

Umnica [9.8K]3 years ago

4 0

Answer:

a. Events that will affect the income statement are :

Part c
Part d

b. Income statement that shows the results of Year 1 operations.

Revenue Earned $59,000

Less Expenses :

Expenses ($43,000)

Net Income / (Loss) $16,000

Explanation:

The Income Statement shows the Profit or Loss that resulted during the reporting period.

Only items of Revenue/Income and Revenue Expenditures (Expenses) are accounted for in Income Statement.

Profit or Loss = Sales less Expenses

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An examination of Hyong Corporation's inventory accounts revealed the following information:

andreyandreev [35.5K]

Answer:

Production= 45,000 units

Explanation:

Giving the following information:

Raw materials, June 1: 46,000 units

Raw materials, June 30: 51,000 units

Purchases of raw materials during June: 185,000 units

First, we need to calculate the raw material used in production:

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 46,000 + 185,000 - 51,000

Direct material used= 180,000

Now, the production for the period:

Production= 180,000/4

Production= 45,000 units

3 0

3 years ago

The ________ is an incomplete picture because a single number cannot fully reflect the sources of the underlying differences in

Sveta_85 [38]

Answer:

Income inequality ratio

Explanation:

The income inequality ratio is an incomplete picture because a single number cannot fully reflect the sources of the underlying differences in income.

Income inequality refers to the uneven distribution of income among the population of a particular place. It is the difference in the allocation of income in a particular country.

Income inequality occurs across different segments of the population such as gender(male and female), ethnic group, occupation, geographical location etc.

The Gini index is widely used to compare disparities in income.

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3 years ago

On June 1, Edward visited a bicycle sales and service center. Edward spotted a used bike he liked and was told by the dealer tha

Salsk061 [2.6K]

Answer:

"Yes" will be the correct response.

Explanation:

The dealership has been obliged to Edward since Edward as well as Dealer had written agreements stating that somehow Edwards may acquire their motorbike on the day before the fifteenth of June.
The two parties offered and otherwise accepted as well as agreed in writing. That's because the contract remained valid, Dealer may be prosecuted as well for contravention.

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3 years ago

Who is responsible for filing your federal tax return?

Setler79 [48]

The answer is B, your employer:)

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3 years ago

A _____ website structure is appropriate if visitors should view the webpages in a specific order, as in the case of training ma

Goryan [66]

The design of the navigation within the website determines the type of the structure of the website. Linear website structure has linear navigation, which means that each page is simply linked to the one before.
A linear website structure is appropriate if visitors should view the webpages in a specific order. The case in which the users need to complete training module 1 before attempting training module 2 is example of linear website.

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3 years ago