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Evgesh-ka [11]
3 years ago
14

Identify which of the following items would be reported in the income statement. a. Cash d. Wage expense g. Net income b. Sales

e. Wages payable h. Inventory c. Long-term debt f. Retained earnings i. Cost of goods sold Items reported in the income statement would include
Business
1 answer:
Inessa05 [86]3 years ago
4 0

Answer:

Items b, d, g, h, and i

Explanation:

The following items from the given question would be recorded in the income statement;

b. sales

d. wage expenses

g. net income

h. inventory

i. cost of goods

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Real estate is a great investment for everyone, particularly since the money is more liquid than common stocks. true or false
Musya8 [376]
<span>this assumption is false. Liquidity of money refers to the ease with which the owner of an asset can convert it into cash. it is easier to convert common stocks into cash rather than attempt to raise cash from sale or mortgage of real estate assets.</span>
4 0
2 years ago
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Q 6.29: Accurate Auditing is conducting an inventory count for Blake Industries. Blake intermingles empty boxes with full boxes
Rasek [7]

Answer:

The asset would have been overestimated

Explanation:

An inventory account deals with assigning values to all the items or goods that are involved in the production process ranging from raw goods, processed goods to market-ready goods.

<em>An inventory represents an asset to a company. Hence, the presence of empty boxes in the storeroom if otherwise taken as full boxes will lead to an overestimation of the asset unless they are discovered.</em>

3 0
3 years ago
On January​ 2, 2017, Kellogg Corporation acquired equipment for​$800,000. The estimated life of the equipment is 5 years or​ 80,
lesya692 [45]

Answer:

Book value of the asset = $484,000

Explanation:

Given:

Equipment cost = $800,000

Residual value = $10,000

Computation:

Depreciation = (Equipment cost - Residual value) /  Life

Depreciation = ($800,000 - $ 10,000) / 5

Depreciation = $ 158,000 per year

Depreciation for 2 year =$ 158,000 x 2

Depreciation for 2 year = $316,000

Book value of the asset = Equipment cost - Depreciation for 2 year

Book value of the asset = $800,000 - $316,000

Book value of the asset = $484,000

6 0
2 years ago
Production Budget
9966 [12]

Answer and Explanation:

The preparation of production budget is shown below:-

                      Weightless Inc

                    Production Budget

         For the month ending October 31

                             Units Bath Scale            Units Gym Scale

Expected Units to

be sold                       150,000                         90,000

Desired Inventory,

October 31                  12,500                           8,000

Total                          162,500                           98,000

Less: Estimated Inventory,

October 1                   -18,000                           -10,000

Total Units to be

produced                  144,500                           88,000

5 0
2 years ago
Define the following terms: a. Cost of debt b. Cost of equity c. After-tax WACC d. Equity beta e. Asset beta f. Pure-play compar
gtnhenbr [62]

Answer: The answers are explained below.

Explanation:

• Cost of debt: The cost of debt is the interest rate that a company is charged on its debts. It is the interest paid on bonds, loans etc. The cost of debt is usually the before-tax cost of a debt.

• Cost of equity: The cost of equity is the return a firm pays to its equity investors e.g shareholders in order to reward them for the risk taken by investing their capital. Companies need capital to operate and grow hence, individuals and organizations who provide funds to such companies are rewarded.

• After tax WACC: The Weighted Average Cost of Capital (WACC) is a firm's combined cost of capital including preferred shares, common shares, and debt after the deduction of tax.

• Equity Beta: It measures the sensitivity of the stock price to changes in market. Equity Beta is also called levered beta.

• Asset beta: It is the beta of a firm without the effect of debt. It is a company's volatility of returns without its indebtedness.

• Pure play comparable: The pure play comparable is the taking of the beta estimate of another company that is comparable and in same line of business.

• Certainty equivalent: It is the guaranteed return that an individual would take now, rather than awaiting a higher but uncertain return later in the future.

3 0
3 years ago
Read 2 more answers
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