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Rudiy27
3 years ago
5

Evaluate the statement "Accounting is all about numbers.". Using the definition of accounting to

Business
1 answer:
coldgirl [10]3 years ago
7 0

Answer:

To say "Accounting is all about numbers." is incorrect since Non- Financial or Non Qualitative information must be communicated on economic entities as well.

Explanation:

Accounting is the measurement, processing and communication of financial and non-financial information about economic entities such as business and corporations.

To say "Accounting is all about numbers." is incorrect since Non- Financial or Non Qualitative information must be communicated on economic entities as well .These Non - Financial information included the Corporate Activities which has impacts on Community (People) and the Environment (Planet).

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The messy ones with no format, and non interesting content within the resume.
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A company has two different products that are sold in different markets. Financial data are as​ follows: Product A Product B Tot
svet-max [94.6K]

Answer:

Effect on income= $400 increase

Explanation:

Giving the following information:

Product A Product B Total

Revenue $ 9,400

Variable cost ​(9,800​)

Fixed cost​ (allocated) ​(2,100​)

Operating income​ (loss) $(2,500​)

Effect on income= operating income - fixed costs

Effect on income= -2,500 + 2,500= 400 increase

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Inventory turnover is calculated as __________ divided by __________.
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Cost of good sold; average inventory
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2 years ago
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What is a niche?
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6 0
3 years ago
On January 1, 2021, the Allegheny Corporation purchased equipment for $295,000. The estimated service life of the equipment is 1
svetlana [45]

Answer:

a.

2021  =  $50,000

2022 = $45,000

b.

2021  = $275,000

2022 = $0

Explanation:

a. Sum-of-the-years'-digits.

Sum of digits for the 10 years will be :

Year 1      =      10

Year 2     =       9

Year 3     =       8

Year 4     =       7

Year 5     =       6

Year 6     =       5

Year 7     =       4

Year 8     =       3

Year 9     =       2

Year 10   =         1

Sum of Digits = 55

therefore,

2021 depreciation = 10/55 x ($295,000 - $20,000)

                               = $50,000

2022 depreciation = 9/55 x ($295,000 - $20,000)

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b. One hundred fifty percent declining balance.

2021 depreciation = 150% x ($295,000 - $20,000)

                               = $412,500

<em>Can not be charged above book value of $275,000</em>

2022 depreciation = 150% x ($295,000 - $20,000- $412,500)

                               = $0

6 0
3 years ago
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