Answer:
The answer is d. tells about economic resources, claims to resources, and changes in resources and claims is useful to investors and creditors in making decisions.
Explanation:
Financial reporting at its core, is a "language". It ensures that the investors and all stakeholders are provided with relevant and accurate information regarding a business or an institution. So that they can take effective and efficient economic decisions that will eventually benefit the entire economy.
Answer:
$255,000
Explanation:
Given that,
2016:
Taxable and pretax financial income = $850,000
Tax rate = 30%
2017:
Taxable and pretax financial income = $850,000
Tax rate = 35%
Income tax refund receivable in 2018:
= Taxable and pretax financial loss in 2018 × Tax rate in the year 2016
= $850,000 × 30 percent
= $255,000
Note:
(i) The carry back provision allows losses to be carried back to preceding 2 years, with the amount of net loss being applied to earliest year first.
(ii) 2018 net loss should be applied to income of 2016 first.
Okay. So Joan receives 25% commission on the profits of the cars she sells. She got $8,870 on the profit last month. To find the commission, let’s multiply the amount of profit by the percentage. 8,870 * 0.25 is 2,217.5. There. Joan earned $2,217.50 in commission last month.
Answer:
The solution to the given problem is given below.
Explanation:
1. Do you believe that the company needs outside financing?
Yes, Company needs outside finance total $ 40,000 as $25,000 in month of Feb and $15,000 in month of Apr
il.
2. What is the minimum line of credit to request from a lender?
Minimum line of credit needed is $40,000
3. Do you think you are a good candidate for the line of credit? Why?
Yes, we are good candidate for line of credit because we can start repayment by May and repay by July and after repayment we will have ending March Cash balance $100,000
.
Detailed calculations are attached with the image.
