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Sergeeva-Olga [200]
3 years ago
15

Jiminez, Inc., had the following transactions during the month of March 2015. Prepare an income statement based on this informat

ion, being careful to include only those items that should appear in that financial statement. 1. Cash received from bank loans was $10,000Revenues earned and received in cash were $9,850. 3. Dividends of $4,000 were paid to stockholders. 4. Expenses incurred and paid were $5,465
Business
1 answer:
vladimir1956 [14]3 years ago
5 0

Answer:

net income     4,385

Explanation:

The income statment will only include revenues and expenses account.

A revenue will be the gain realized from the business main activity or secondary like interst or rental revenues.

While expenses will be the cash erogation or losses iincurred in the business activities, their financing like interest expenses and other.

revenues       9,850

expenses     <u>  5,465   </u>

net income     4,385

The loan is not an expense. It wil lbe the interest it generated but we aren't given with that information

The dividends also aren't an expense they represent the return to the investors.

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Banks that have national charters must join the Federal Reserve and are subjected to its
aleksandrvk [35]

Answer: True

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The Federal Reserve requires that all banks with National charters become members of the Federal Reserve so that they may have a say in the way the Fed runs its operations. State banks are not required to join but can if they meet some requirements.

The Office of Comptroller of the Currency (OCC) continually supervises and examines national banks to ensure that they are engaged in best practices regarding their operations and treatment of customers.

8 0
2 years ago
Sin Qua Corporation is a company listed on the stock exchange and issues corporate bonds. Which statement is most likely true?
ch4aika [34]

Answer:

Investors will have to pay tax on the interest income received from the bonds.

Explanation:

Interest earned from corporate bonds and capital gained through corporate bond transactions is taxable income.  The interest earned from a corporate bond is subject to taxation by both the federal and state governments.

The government will not sell sin Qua corporation bonds as it is a public company.  Bonds do not pay interest quarterly but rather semi-annually or annually.  Again, the maturity of the bond is determined at the time they are issued. Creditworthiness will only affect the bond price but not its maturity period.

Investors will have to pay tax on the interest income received from the bonds is thus the correct statement.

8 0
3 years ago
list four strategies that individuals, families, businesses, and government apply when making financial decisions.
Agata [3.3K]

While making financial decision one should keep in mind the Cost-benefit analysis, marginal analysis, trade-offs, and opportunity costs.

<h3>What are the strategies for making better fianancial decision?</h3>

The success of your firm will depend on the wiser financial decisions you make, among other things. Financial errors can have devastating repercussions and seriously ruin your business venture. You must be familiar with your company's financial data in order to develop stronger financial decision-making techniques.

1. Consistently Use Reliable Accounts

2. Invest in financial education

3. Regularly compare cash flow forecasts to actuals

4. Ensure That Major Initiatives' Financial Impact Is Always Calculated

5. Have Your Team Participate In Decision-Making

6. Consistently monitor financial performance

Learn more about the Business finance with the help of the given link:

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6 0
1 year ago
Your broker called earlier today and offered you the opportunity to invest in a security. As a friend, she suggested that you co
Simora [160]

Answer:

Everything else being equal, you should invest if the discounted value of the security's expected future cash flows is greater than or equal to the current cost of the security.

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You would use the capital budgeting technique known as net present value (NPV) . In order for a project or investment to be accepted, the sum of the present values of future cash inflows generated by the project should be greater than the initial amount invested or the initial cost. If the PV of the future cashflows is lower than the initial cost of capital, the investment would be rejected. On the other hand, if they are equal, the investor would be indifferent between accepting or rejecting the investment.

3 0
3 years ago
To become industrial, a nation must have raw materials, workers, and capital. True or false?
saul85 [17]
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7 0
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