Answer:
Daun’s first year of operation
Income statement
Sales Revenues $250,000
Less
Cost Of Sales $ 140,000
Less
Expenses $ 2820
Warranty Claims 5000
Net Income 102,180
Daun’s first year of operation
Cash Flows statement
Net Earnings $250,000
Less
Cash Paid for
Inventory Costs $ 140,000
Replacements $ 2820
Net Income 107,180
Answer:
First Select Investors
Explanation:
With timely notice to the proper parties, Global Bank may collect payment on the note from First Select Investors.
Although Charlton is the maker of the $200,000 promissory note payable, and was directly issued to Development & Sales Corporation, the party that issued it to Global Bank is First Select Investors.
Hence, Global Bank has direct link to First Select Investors and will notify the later about payment of their account receivable.
Answer:
The accounting cycle is all about managing,updating and reporting on the firm's accounts.
Explanation:
The accounting cycle can be listed in the following nine steps as:
- Step 1: analyzing transactions as sales, purchase,etc
- Step 2: All the transactions need to be recorded
- Step 3: All the information should be transferred from journal to the ledger
- Step 4: An unadjusted trial balance should be formulated
- Step 5:Adjusted entries are prepared
- Step 6: An adjusted trial balance is constructed
- Step 7: a financial statement is prepared
- Step 8: Closing entries are prepared
- Step 9: The post closing trial balance is prepared
I think the answer would be C. Recommend a solution.
The Process
1. Design the study
2. Collect the data
3. Interpret the data
4. Defined the marketing problem
5. Recommend a solution
New materials and products and ingredients. innovation, breakthroughs developments.improved production processes and business modules
