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3 years ago

The financial statement that organizes costs by their behavior instead of by their function is the

Business

1 answer:

stellarik [79]3 years ago

3 0

Answer:

The correct answer is: contribution margin income statement.

Explanation:

The contribution margin income statement organizes costs by behavior and not by function thus it is not used for financial reporting. The variable expenses are deducted from sales to be recorded at a contribution margin. Fixed expenses are subtracted from the net profit obtained at the end of the accounting period.

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ABC provides music for special occasions. On January 14, the Smith family hired ABC for an upcoming family wedding for an agreed

OLga [1]

Answer:

Debit Cash account (with the amount received)

Credit Accounts receivables (with the amount received)

Explanation:

Revenue is not recorded until the recognition criteria for the recognition of revenue has been met and this includes;

the corresponding cost incurred in generating revenue can be reliably measured
the goods or service has been delivered

Given that the service was performed in May, when half of the fee was received in April, the required entries then was

Debit Cash account

Credit Unearned revenue (with the amount received being half payment)

when the service was performed in May,revenue was earned

Debit Unearned revenue (with the amount received being half payment)

Debit Accounts receivable (with the amount yet to be received being half payment)

Credit Revenue (with the amount agreed for the service)

In June when the final payment is received,

Debit Cash account (with the amount received)

Credit Accounts receivables (with the amount received)

3 0

3 years ago

1) Internal distractions, such as emotions or preoccupations with a line of thought can be detrimental to your driving ability t

WARRIOR [948]

1. True. Anything that distracts the driver from the road can be detrimental to his driving ability to maintain an awareness of the larger driving environment.

2. relative position. Depth perception is the ability to perceive the surrounding environment in three dimensions as well as the distance to an object through vision, whether the object is fixed or in movement, in front, or behind.

3. 4 seconds. That's the time needed when considering speeds up to 70mph.

4. True. All of those components are important for a safe drive - vehicle’s operation, position, speed, the condition of the roadway, and the actions of other drivers.

5. 30-36 degrees. It allows a focus for mid distances and blurring of what's around. It is important on a motorway, for example, as what's ahead is the most important once there isn't people or very busy areas around. It is also called of foveal vision. It's important when it comes to understanding the vehicle's position in the roadway, and viewing the line of sight.

7 0

4 years ago

Amanda Jones is a tax practitioner who is representing Sean and Diane Smith before the Wage and Investment Division of the Inter

algol13

Answer:B. Amanda must advise Sean and Dianne promptly of the inaccuracy and the consequences provided by Internal Revenue Code and Regulations.

Explanation:

Sean and Dianne have probably engaged Amanda at the end of the tax year and they are to face implications of the transactions as it relates to tax matters, Amanda is to provide them with legislation in relation to the matter to educate them in future tax transactions.

8 0

3 years ago

Suppose you are starting a business, wholly shirts, to imprint logos on t-shirts. in organizing the business and setting up i

Ilya [14]

The guidelines is called Generally accepted accounting principle.
Generally accepted accounting principle is a method to conduct financial reporting that is deemed as acceptable for Security Exchange Comission.
The purpose of the GAAP is to ensure that all companies follow a generalized rule in making their finnacial report.

7 0

3 years ago

A firm operates in a state that has a corporate income tax rate of 5% and is deductible from the federal taxes. If the increment

Salsk061 [2.6K]

Answer:

The answer is b. false

Explanation:

Call X as the adjusted gross income before taxation. The corporate income tax is 0.05 * X. Given that the incremental federal tax rate is 34% after the state corporate income tax and because the state corporate income tax is deductible from the federal taxes, the incremental federal tax is 0.34 * (X - 0.05 * X). Therefore: 0.34 * (X - 0.05 * X) = 0.34 * 0.95 * X = 0.323 * X. The combined effective tax rate should be 32.3%.

8 0

4 years ago