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12345 [234]
3 years ago
13

What is the basic equation of an income statement? Select one: a. Assets = Revenues – Expenses b. Net income or loss = Revenues

– Expenses c. Assets = Liabilities + Equity d. Equity = Cash inflows – Cash outflows
Business
1 answer:
Mashutka [201]3 years ago
7 0

Answer:

c. Assets = Liabilities + Equity

Explanation:

Assets = Liabilities + shareholders equity is also known as the balance sheet equation.

It is the basis for the double-entry bookkeeping system

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Bruce has a credit card that uses the average daily balance method. For the first 9 days of one of his billing cycles, his balan
Mice21 [21]

Answer:

$31.61

Explanation:

In order to determine the amount of interest charged you must first calculate the average daily balance:

average daily balance = [($2,030 x 9) + ($1,450 x 22)] / 31 = $1,618.39

Now we must calculate the daily interest rate:

daily interest rate = 23% / 365 = 0.063%

Finally we multiply the average daily balance times the daily interest rate times the number of days in the billing period:

interest charged = $1,618.39 x 0.063% x 31 days = $31.61

3 0
3 years ago
Assume the following information pertaining to Moonbeam Company:
Nana76 [90]

Answer:

<u>d. Material Purchases =  $ 169,000</u>

Explanation:

Cost Of Goods Statement.

Beginning Direct Materials =         $117,000

Add Material Purchases =            $ 169,000

Less Ending Direct Materials =     <u>$130,000 </u>

Direct Materials Used =                 $156,000 ( given)

Direct Labor=                                    $ 697,000

Factory Overhead =                         $199,000

Total Manufacturing Costs =           $896,000

Beginning WIP Inventory =              $85,000

Ending WIP Inventory =                 $104,000

Cost of Goods Manufactured=      $ 1033,000

Beginning Finished Goods Inventory = $130,000

Ending Finished Goods Inventory = $124,000

Cost Of Goods Statement               = $ 1039,000

4 0
3 years ago
If the United States exports $150 billion of goods and services and imports $100 billion of goods and services and there is no o
natta225 [31]

Answer:

$50 billion.

Explanation:

Current Account represents the balance of Trade (Imports & Exports) plus net income and direct payments. Countries strive to maintain their current account surplus which is an indicator that the country is producing and exporting more than its consumption and imports. In this case, it is clearly stated that there are no other factors like income or transfers, so we just have to compare exports and imports. The formula for Current Account in this case is:

                                                Exports - Imports

⇒ 150 - 100 = $50 billion.

3 0
3 years ago
Assume a firm's resources and capabilities are costly to imitate. This is because rival companies do not clearly understand the
Nana76 [90]

Answer:

True

Explanation:

A core competency refers to those unique capabilities built by an organization which are hard to imitate by rivals and which give such an organization a competitive advantage over the rivals.

A casual ambiguity refers to the state of non clarity with respect to how consequences relate to the initial state of a phenomenon.

In the case of firm, the phenomenon being the built up to core competency which the rivals are unable to decipher with respect to the relationship between the firm's resources and capabilities.

6 0
3 years ago
William had taken a student loan to pursue a degree in electrical engineering. However, after completing his degree, William mis
erastova [34]

default

repay

credit

4 0
3 years ago
Read 2 more answers
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