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Dennis_Churaev [7]
3 years ago
6

Preparing budgeted income statement.

Business
1 answer:
Shkiper50 [21]3 years ago
4 0

Answer:

Budgeted net income is $175,630  

Explanation:

The budgeted income statement for the year ended 31  December , 2 011 is presented below , starting with the sales budget amount while budgeted costs of good sold and selling and administrative expenses are deducted from sales,

Budgeted sales                                         $1,222,700

costs of goods sold                                   ($727,300)

operating income                                       $495,400  

Selling and administrative expenses       ($244,500)

Profit before tax                                         $250,900  

Taxes($250,900*30%)                             ($75,270)

net income                                                $175,630  

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3 years ago
Which of the following BEST describes a company's proper liquidity management?
Naddika [18.5K]

Answer:

A. Liquidity management is a balancing act, managers try to find liquidity levels that are neither too high not too low.

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Maintaining proper liquidity is an important financial objective of management. Proper liquidity management demands that an entity should be able to meet his short term financial obligation and making sure that liquid assets of the entity are not idle. In order to achieve this, the best way to go is to maintain a level that is neither too high and not too low. Not too high means the entity is not holding too much cash or liquid assets than it currently need to meet its short term financial obligation.

For example, not keeping too much cash in current account but investing them in interest-earning investment assets.

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Option B is false because keeping too much does not help to maximize short term earnings which is a feature of proper liquidity management. Option C is wrong because there is no guideline to support that deferring coupon payment won`t attract payment and this does not connote proper liquidity management.

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3 years ago
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Normative statements come from a viewpoint or an opinion. As a result, the terms "should," "ought," or "it is preferable to" are commonly used. Normative statements can never be proven to be true.

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