Answer:
Revenue /expense approach
Explanation:
As we know that the income statement recognized only the revenues and the expenses and if the revenue is more than the expenses so the company is earning profit else it would suffered loss
So for proper income statement, the item recognized under US GAAP should be placed in revenue and expense approach as it comes under the income statement and the same is to be considered
Answer:
$108,937.50
Explanation:
Data provided in the question
Time period = 15 months ago
Sale value of the property = $105,000
Per month rate = 0.25%
So by considering the above information, the adjusted price of the comparable property without compounding is
= Sale value of the property × (1 + (per month rate × time period))
= $105,000 × 1.0375
= $108,937.50
Answer:
Explanation:
(a) The computation of the cost of goods sold is shown below:
= Beginning inventory + Purchase of new merchandise - ending inventory
= $4,000 + $22,000 - $4,500
= $21,500
(b) In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
<span>A database is an organized collection of Logically related data
In programming, logically related data refers to all data that is necessary in order to build the data structures resonate with another that form a single program as a whole. A failure in resonating these data will result in an occurrence that we know as an error.</span>
Answer:
$6,366
Explanation:
Calculation for the total business deduction related to the car:
Total business deduction=($10,500x .535) + $850(.80) + $85(.80)
Total business deduction=$5,618+$680+$68
Total business deduction=$6,366
Therefore the total business deduction related to the car is $6,366