Answer:
The question is missing the options which can be found in the attached.
The correct option is banker's acceptance
Explanation:
Banker's acceptance is a guarantee by a bank to the exporting party to pay a sum of money at specific date.
In international business, exporters would require additional security against their receivable usually request for a banker's acceptance also known as bill of exchange.
The bank pays the exporter a discounted amount as agreed then chase the importer for the full value of the transaction.The difference between the discounted amount paid by the bank and the full value recoverable from the importer is the bank's margin.
Answer:
the domestic price of sugar will increase to $125.
Explanation:
Since the world price of sugar is higher than the domestic price, domestic producers of sugar will export their products in order to earn a higher profit. That will eventually lead to an increase in the equilibrium price from $100 (former equilibrium price) to a higher price equal to the world price ($125).
Answer: b. pays cash before the expense has been incurred.checked
d. receives cash before the revenue has been generated
Explanation:
Here is the complete question:
Deferral adjustments are needed when the business:
a. pays cash after the expense has been incurred.unchecked
b. pays cash before the expense has been incurred.checked
c. receives cash after the revenue has been generated.unchecked
d. receives cash before the revenue has been generated.
Adjustments are made during the end of every accounting period in order to report the revenues and the expenses in proper period at which they occur and also in order to report the assets and the liabilities at their appropriate amounts.
Deferral adjustment is when the revenue or the expense has been deferred or postponed and will therefore be reported on the income statement at a later period.
Previously deferred amounts will show on the balance sheet when a company pays cash before having to incur the expense or in a case whereby the company gets and collects cash before earning the revenue.
When revenues are made or when expenses are incurred, the previously deferred amounts will have to be adjusted and then, the amounts will be transferred to income statement through the use of the deferral adjustment.
Answer:
the answer is a
Explanation:
An apprentice is someone following the in print 18 around and doing what they're doing just less important things
Answer:
See explanation
Explanation:
Armstrong Co.
Multi-step Income Statement
For the year ended, December 31, 20YY
Sales $755,000
<u>Less: Cost of merchandise sold (330,000)</u>
Gross Profit $425,000
Less: Operating expenses
Administrative expenses $35,000
Selling expenses $50,000
<em><u>Total operating expenses $85,000</u></em>
Income from operation $340,000
Other revenue and expenses:
Rent Revenue $25,000
interest expense ($30,000)
<u>Total other revenues (expenses) $(5,000)</u>
Income before taxes $335,000
<u>Less: Income Tax 0</u>
Net Income (loss) $335,000
That is the appropriate way to prepare a multi-step income statement
