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garri49 [273]
4 years ago
6

The income statement should be prepared a.after the retained earnings statement and before the balance sheet b.after the retaine

d earnings statement and balance sheet c.before the retained earnings statement and balance sheet d.after the balance sheet and before the retained earnings statement
Business
1 answer:
ale4655 [162]4 years ago
8 0

Answer:

The correct option is C

Explanation:

Income statement is the one which states the core financial statements of the company which shows the profit and loss. And the profit and loss statement states the ability of the company for generating sales, create profits and manage expense.

It is that statement which to be prepared first, as in prepared before the retained earnings statement and the balance sheet statement.

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What does someone need to be a great photojournalist?
FrozenT [24]
Because if you don't take good pictures and write about them then you can't become one and that there are many jobs you can do if your not good it's more like a journalist writing but with pictures and editing and things.

5 0
4 years ago
Read 2 more answers
The following information relates to Oriole Company for the year 2020.
Talja [164]

Answer and Explanation:

The Preparation of income statement for the year ending December 31, 2017 is shown below:-

                     <u>  Oriole Company</u>

<u>                           Income Statement</u>

<u>            For the Year Ended December 31, 2017</u>

Particulars Amount

Service Revenue $86,250

Less:

Expense

Salaries and Wages

Expense $38,640

Rent Expense $14,352

Utilities Expense $4,278

Advertising Expense $2,484

Total Expenses $59,754

Net Income/ (Loss) $26,496

Therefore for determining the net income/loss we simply deduct the total expenses from service revenue.

3 0
3 years ago
A company enters into a short futures contract to sell 25,000 units of a commodity for 950 cents per unit. The initial margin is
Ksju [112]

Answer:

$958

Explanation:

The amount that is excess in the initial margin account can be withdrawn. So we calculate the price increase that will result in a $2000 increase in initial margin.

The present price per unit of the commodity is 950 cents for 25,000 units

A unit increase of the price (which is in cents) will be 1/100= 0.01

Therefore an increase in price of 0.01 will lead to gain of 0.01 * 25,000= $250

Let's get price increase that will result in $2,000 gain

$250 = 1 unit price increase

$2,000 = x

x= (2000 * 1) ÷ 250= 8 units increase

Therefore the price at which $2,000 can be withdrawn is 950 + 8= 958 cents

8 0
3 years ago
Alisha has a five-year car loan of $15,000 with an interest rate of 6 percent. If the interest is compounded annually, how much
Zina [86]
We are given with the data that the original cost of the car is $15000. However Alisha wants to pursue the whole payment for five years thus a 6 percent interest rate is given. The formula for finding the total cost is TC = 15000* (1+0.06)^5. The answer is $20,073.39 
3 0
3 years ago
Johnson is an executive vice president at Conecom Hardware. He researches a proposal by a larger company, Openlane Hardware, to
WARRIOR [948]

Answer: Turn down the acquisition offer and prepare to resist a hostile takeover.

Explanation:

Since Johnson analysed the past performance of Openlane hardware and found out that past performance, conducting focus groups, and interviewing Openlane employees, Johnson concludes that the company has poor profit margins, sells shoddy merchandise, and treats customers poorly, then Johnson and Conecom Hardware should turn down the acquisition offer and prepare to resist a hostile takeover.

In this case, the merge between the companies will have a negative impact on Johnson and Conecom hardware due to the fact that the company has a bad reputation already and this can have an effect on Conecom. Therefore, the acquisition offer should be turned down.

5 0
3 years ago
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