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3 years ago

Which of the following is NOT included when calculating gross income?

Business

1 answer:

jekas [21]3 years ago

7 0

Financial incomes other than scholarships can be included in the calculation of gross income.

Explanation:

The gross revenue, cost of sold goods marks the gross income for a business which is also known as gross margin. It does not include all the other costs in running the business.

For an individual, gross income is the total financial income that he/she receives before paying tax or other deductions is known as gross income or gross pay. It not only includes wages and salary but also the other incomes namely alimony, pension, tips, rental income, investment income, capital gains and dividends.

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dedylja [7]

After using the format painter, he wants to turn it off. The key he should press is the Esc key. It is found on most computer keyboards and used for any of various functions, as to interrupt or cancel the current process or running program, or to close a pop-up window.

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3 years ago

XYZ Co. uses the percentage of credit sales method of estimating doubtful accounts. The Allowance for Doubtful Accounts has an u

leva [86]

Answer:

$16,700

Explanation:

The computation of the ending balance in the allowance for doubtful account is shown below:

= Unadjusted credit balance + Net credit sales × estimated bad debt percentage

= $4,100 + $210,000 × 6%

= $4,100 + $12,600

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3 years ago

Cash paid to retire notes $ 112 Common shares acquired for treasury 172 Proceeds from issuance of preferred stock 254 Proceed

arsen [322]

Answer:

$176 million

Explanation:

The calculation of net cash inflows from financing activities is shown below:-

Net cash inflows from financing activities

Proceeds from issuance of preferred stock $254 million

Proceeds from issuance of subordinated bonds $292 million

Less: Cash dividends paid on preferred stock (86) million

Less: Cash paid to retire note ($112) million

Less: Common shares acquired for treasury (172) million

Net cash inflows from financing activities $176 million

The positive sign represents the cash inflow and the negative sign represents the cash outflow

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3 years ago

Please help, will give Brainlest. Explain how a business income statement could help a business owner who is looking for investo

mixer [17]

Answer:

The income statement determines very important information for a business investment proposal such as EBITDA : Earnings Before Interest and Taxes plus Depreciation and Amortization.

This indicator is critical to know how much profit is drive just by the operation of the business. You can compare this indicator with accounts such as long term and short term loans in order to determine how much debt is healthy for the business to ask for investors or a bank.

Explanation:

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3 years ago

Read 2 more answers

A company forecasts sales of $91,500 for the quarter ended December 31. Its gross profit rate is 18% of sales, and its September

nlexa [21]

Answer:

Purchases= $57,530

Explanation:

Giving the following formula:

Production= 91,500*(1 - 0.18)= $75,030

Beginning inventory= $25,000

Desired ending inventory= $7,500

To calculate the budgeted purchases, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

Purchases= 75,030 + 7,500 - 25,000

Purchases= $57,530

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3 years ago