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4 years ago

Psychology

Business

1 answer:

statuscvo [17]4 years ago

8 0

The process described in the question above refers to creative thinking.

Creative thinking is defined as a way of thinking that looks at situations from perspectives that are not commonly used or are often overlooked, which in turn provides possibilities to get undiscovered solutions to the identified problems.

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The income statements for four consecutive years for Colca Company reflected the following summarized amounts:

Alla [95]

CORRECTED INCOME STATEMENTS

2011 ($) 2012 ($) 2013 ($) 2014 ($)

Sales revenue 60,000 63,000 65,000 68,000

COGS (39,000) (41,000) (46,000) (46,000)

Gross profit 21,000 22,000 19,000 22,000

Expenses (16,000) (17,000) (17,000) (19,000)

Pretax Income 5,000 5,000 2,000 3,000

Income Tax Expense (30%) (1,500) (1,500) (600) (900)

Net Income 3,500 3,500 1,400 2,100

An income statement is a financial statement detailing a company's income and expenses during a reporting period. Also known as the Income Statement (P&L), it is typically produced quarterly or annually. An income statement shows the financial performance of a company over a period of time.

There are four major degrees. (1) Balance Sheet. (2) Income Statement. (3) Cash Flow Statement. (4) Statement of Shareholders' Equity.

Learn more about INCOME STATEMENTS at

brainly.com/question/24498019

#SPJ4

5 0

2 years ago

The Packaging Department started the month with 900 units in process, received 1 comma 600 units from the Finishing Department

jeka94

Answer:

ending WIP physical units: 600

Equivalent units: 495

Explanation:

physical units:

We will add up the beginning units and the transferred-in.

Then we subtract the transefrred-out

beginning 900

received 1,600

total units during the period: 2,500

transferred out: (1,900)

ending: 600

To know the equivalent untis we multiply by their porcentage of completion:

900 x 55% = 495 units

6 0

4 years ago

New technology in ________ allows producers to use materials from all over the world to manufacture goods.

noname [10]

Answer:

The first bullet point, Shipping

7 0

4 years ago

Read 2 more answers

Starr Company reports the following information for August. Raw materials purchased on account $ 76,200 Direct materials used in

il63 [147K]

Answer:

1. Raw materials purchased.

Raw Materials Account $ 76,200 (debit)

Account Payable $ 76,200 (credit)

2. Direct materials used in production.

Work In Progress Account $48,000 (debit)

Raw Materials Account $48,000 (credit)

3. Direct labor used in production.

Work In Progress Account $15,350 (debit)

Wages and Salaries $15,350 (credit)

4. Applied overhead.

Work In Progress Account $18,360 (debit)

Manufacturing Overhead Account $18,360 (credit)

Explanation:

1. Raw materials purchased.

Raw Materials Account $ 76,200 (debit)

Account Payable $ 76,200 (credit)

Recognise the Assets of Raw Materials and a Liability - Account Receivable

2. Direct materials used in production.

Work In Progress Account $48,000 (debit)

Raw Materials Account $48,000 (credit)

De-recognise the Raw Materials used in production and recognise the cost in Work In Progress Account

3. Direct labor used in production.

Work In Progress Account $15,350 (debit)

Wages and Salaries $15,350 (credit)

Recognise the labor cost in Work In Progress Account and de-recognise the Wages and Salaries Account with the amount applied to production

4. Applied overhead.

Work In Progress Account $18,360 (debit)

Manufacturing Overhead Account $18,360 (credit)

De-recognise the Manufacturing Overheads used in production and recognise the cost in Work In Progress Account

4 0

3 years ago

What is the meaning of delegation?

andrezito [222]

The meaning of delegeation is ''the act of empowering to act for another''.

3 0

4 years ago

Read 2 more answers