1. revenue 2. income 3. graph 4. equity 5. balance sheet 6. income taxes
When accounting for the general fund, the encumbrances control account is credited when: purchase order is filled or canceled.
<h3>
What do you mean by general fund?</h3>
A general fund is defined as the fund which is known as the primary operating fund of a governmental unit. Most of the usual activities are supported by general fund.
On the other hand, the encumbrance control account is defined as settlement under which the some amount of money keep aside to meet the anticipated expenses.
For example, the reserve is used for maintaining the contract or purchase order.
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Answer:
$1,200,000
Explanation:
Jack Corporation
Carrying value before net loss:
($1,500,000 - (20% x $1,000,000))
=$1,500,000-$200,000
= $1,300,000
Jack's share of net loss recognized in full:
20% x $6,000,000
= $1,200,000
Therefore the amount of loss should Jack report in its income statement for 2021 relative to its investment in Jill will be $1,200,000
Answer:
A cost-benefit analysis involves subtracting the sum of all the business costs from the business benefits.
Explanation:
Business is the act of exchanging goods and services for commercial purposes. The main aim of conducting a business for most people is to increase sales and make profit. In order to do this, there are business decisions that go into the running of business that determine how the business will perform. Most of these decisions if taken into account can lead to overall business success. There are different methods in economics that can aid a business person to make a decision, however, in this case we will consider the cost-benefit analysis as a tool of economics that can be used to make business decisions.
As indicated above, a cost-benefit analysis is a method that businesses often use to arrive at decisions. The analysis is done by first assigning monetary units to all the activities and processes that will go into the business. The total costs are then calculated from all the expenditures that will be incurred in the business. The benefits are then calculated from all the revenue expected to be got from the business. The costs are then subtracted from the benefits. The result can be either zero, negative or positive. A zero result implies that the business will break-even, there will be no losses or profits. A negative value implies that the business will go to a loss thus not advisable to venture in it. A positive result shows that the business will be profitable therefor it would be beneficial to venture into it.
