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Amanda [17]
4 years ago
15

In Baer Food Co.'s 20x5 single-step Income Statement, the section titled "Revenues" consisted of the following: Net sales revenu

e $187,000 Results from discontinued operations: Loss from operations of the segment (net of $1,200 tax effect) $(2,400) Gain on the disposal of segment (net of $7,200 tax effect) 14,400 12,000 Interest revenue 10,200 Gain on the sale of equipment 4,700 Total revenues $213,900 In the revenues section of the 20x5 Income Statement, Baer Food should have reported total revenues of:_______________.
Business
1 answer:
VMariaS [17]4 years ago
7 0

Answer:

Explanation:

In a single step income statement, revenues include sales and other gains

Sales revenue - 187000

Interest revenue - 10200

Gain on sale of equipment - 4700

In Total - 201900

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When the revenue for a business is less than its costs, it is making a profit.
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Answer: false

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A firm is making profit when total revenue is greater than total cost.

A firm is making a loss when total revenue is less than total cost.

Profit or loss can either be accounting or economic.

Accounting profit or loss = Total revenue - Explicit cost

Economic profit or loss = Accounting profit or loss - implicit cost.

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3 years ago
Ned represents Sofia in the sale of her townhome. Luciana represents Sofia's buyer, Arturo. What is Luciana's responsibility to
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It can be deduced that Luciana's responsibility to Sofia is that of a customer.

<h3>Who is a customer?</h3>

It should be noted that a customer simply means an individual who purchases good from another company.

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7 0
3 years ago
Which of the following accurately describes the process of currency
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Answer:

C. Money from one country is bought using money from another

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Therefore doing CURRENCY EXCHANGE the exchange rate is often how much of a country's currency have to buys another foreign currency which is why for some countries, exchange rates tend to constantly change while some countries tend to use a fixed exchange rate which does not often change .

Hence CURRENCY EXCHANGE enables money from one country to be bought using money from another.

6 0
3 years ago
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