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4 years ago

A bank statement:

Business

1 answer:

eimsori [14]4 years ago

6 0

Answer:

4. shows the activities that increased or decreased the depositor's account balance.

Explanation:

A bank statement is a document that the bank sends to its customers in which there is a record of all the transactions that have been made in the account with the specific amounts deposited or withdrawn in a specific period of time. According to this, the answer is that a bank statement shows the activities that increased or decreased the depositor's account balance.

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The following is a partial year-end adjusted trial balance. Account Title Debits Credits Sales revenue $ 460,000 Loss on sale of

dalvyx [7]

Answer:

a) Operating Income = $73,000

b) Net income before income tax = $25,500

Explanation:

First part of the question is to determine the operating income or loss of the business

It is calculated as follows

Particulars Amount

Sales Revenue $460,000

Subtract: Cost of goods sold ($240,000)

General and Administrative exp. ($56,000)

Restructuring Costs ($58,000)

Selling Expenses ($33,000)

Operating Income $73,000

Second part is to determine the income or loss before income taxes

Particulars Amount

Operating Income $73,000

Add: Interest Revenue $6,500

Deduct:Loss on sales of investment ($54,000)

Income before Income Tax $25,500

Finally, the Net Income or loss after Income tax

$25,500 x .25 = $6,375

7 0

3 years ago

Suppose students like to eat pepperoni pizza, bean and rice burritos, and hamburgers (made from beef) from the food establishmen

Blababa [14]

Answer:

c. The price of cheese increases

Explanation:

Since the resources (money) are limited, the students have to choose among the three options they like to eat from the food establishments on campus.

pepperoni pizza,
bean and rice burritos, and
hamburgers (made from beef)

Reasonably, they will choose to eat the food that optimizes the use of their money, i.e. they search to optimize the utility they receive.

Since cheese is a fundamental ingredient of pizza, if the price of cheese increases, the price of pepperoni pizza shall increase.

Thus, students will swift from eating pepperoni pizza to eating more food from the other establishments on campus, including hamburguers (made from beef).

Therefore, if the price of cheese increases, most likely the quantity of hamburgers sold will increase.

8 0

4 years ago

When Apple, Inc. opened retail stores to sell its computers and iPods, this was an example of:

soldier1979 [14.2K]

Answer:

The correct answer is letter "A": forward vertical integration.

Explanation:

Forward integration happens when a business takes over functions that were originally performed by its partners in the supply chain. Forward integration can be horizontal and vertical. Forward horizontal integration takes place when one company takes over another at the same level of the supply chain. In forward vertical integration, a firm takes charge of the businesses located farther down the supply chain.

4 0

3 years ago

Which entity types can generally use either the cash or accrual method of accounting for tax purposes

Neko [114]

Answer:

S corporation

Sole proprietorship

Partnership

Explanation:

Not sure if im right but there ya go :)

3 0

3 years ago

Beginning inventory $ 34,000 Inventory purchases (on account) 164,000 Freight charges on purchases (paid in cash) 19,000 Invento

sukhopar [10]

Answer:

Journal entries - Perpetual inventory system

Inventory purchases (on account) 164,000

Inventory $ 164000(debit)

Trade Payables $ 164000 (credit)

Freight charges on purchases (paid in cash) 19,000

Freight Charges $ 19000 (debit)

Bank $19000 (credit)

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Inventory $19000 (debit)

Freight Charges $ 19000 (credit)

Inventory returned to suppliers (for credit) 21,000

Trade Payable $ 21000 (debit)

Inventory $21000(credit)

Sales (on account) 259,000,

Trade Receivables $ 259000 (debit)

Revenue $259000(credit)

Cost of inventory sold 157,000

Cost of Sales $157000 (debit)

Inventory $157000 (credit)

Journal entries - Periodic inventory system

Inventory purchases (on account) 164,000

Inventory $ 164000(debit)

Trade Payables $ 164000 (credit)

Freight charges on purchases (paid in cash) 19,000

Freight Charges $ 19000 (debit)

Bank $19000 (credit)

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Inventory $19000 (debit)

Freight Charges $ 19000 (credit)

Inventory returned to suppliers (for credit) 21,000

Trade Payable $ 21000 (debit)

Inventory $21000(credit)

Sales (on account) 259,000,

Trade Receivables $ 259000 (debit)

Revenue $259000(credit)

Cost of inventory sold 157,000

Cost of Sales $157000 (debit)

Inventory $157000 (credit)

Explanation:

Inventory purchases (on account) 164,000

Recognise an Asset - Inventory and a liability - Account payable

Freight charges on purchases (paid in cash) 19,000

Recognise an expense - Freight Charges and de-recognise asset - Bank

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Derecognise expense- Freight and recognise an asset - Inventory

Inventory returned to suppliers (for credit) 21,000

De-recognise Asset - Inventory and De-recognise Liability - Account Payable

Sales (on account) 259,000,

Recognise Asset - Trade Receivable and Recognise Revenue

Cost of inventory sold 157,000

Recognise expense - Cost of Sale in Profit and Loss and De-recognise Asset- Inventory

6 0

4 years ago