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Illusion [34]
3 years ago
13

A company’s chart of accounts includes, in part, the following account numbers and corresponding account titles: Account No. Acc

ount Title (1) Cash (2) Merchandise inventory (3) Cost of goods sold (4) Transportation-out (5) Dividends (6) Common stock (7) Selling expense (8) Loss on the sale of land (9) Sales Which accounts would appear on the income statement?
Business
1 answer:
Lelechka [254]3 years ago
7 0

Answer:

Account which will appear on Income statement

(9) Sales

(3) Cost of goods sold

(4) Transportation-out

(7) Selling expense

(8) Loss on the sale of land

Explanation:

All the account that appears on the income statement are the temporary account which need to be closed at the end of each period. Their net balance is transferred to an permanent account of balance sheet.

The following account will be appeared in the balance sheet.

(1) Cash

(2) Merchandise inventory

(5) Dividends

(6) Common stock

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hold Chance but not the company liable

Explanation:

In this scenario Chance is an independent contractor so his actions are not representative of the companie's.

When an independent contractor causes damages while working the company will not be held liable for his negligence.

So in this scenario where Chance negligently runs a stop sign and causes an accident and Judy is injured. Only Chance is liable

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Three years ago shawheen deposited 5,000 in a savings account
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Suppose that the pound is pegged to gold at £20 per ounce and the dollar is pegged to gold at $35 per ounce. This implies an exc
AfilCa [17]

Answer:

The exchange rate implies in exchange rate of $1.75 but current market exchange rate is $1.80 which means that the dollar is undervalued and pound is over valued in the market.

We will buy Dollar in the market and use these dollars to buy gold and then sell this gold in Euros

E.G Buy a $1000 from the market for £555(10,000*1/1.8)

After that we can by 28.5(1000/35) ounces of gold from that and sell the gold for £571(20*28.5). This way we make a profit of £16 (571-555) without taking any risk.

Explanation:

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How can marketers take advantage of laughable disclaimers in their advertising?
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a

Explanation:

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2 years ago
Which one of the following regarding the State Disability Insurance (SDI) program is true?
solmaris [256]

Answer:

B) The State Disability Insurance (SDI) program benefits received for a period of disability are not taxable as income, but benefits received for time off under the Paid Family Leave program are federally taxable as income.

Explanation:

Disability insurance benefits are not reported for tax purposes with one exception. If a person are receiving unemployment insurance benefits,

become unable to work due to a disability, and begin receiving disability insurance benefits, your disability insurance benefits are considered a substitution for your unemployment insurance benefits,  and will then be reported for tax purposes.

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Paid family leave benefits are reported for federal purposes but not state tax purposes.

Paid family leave benefits are not taxable or reported to the California State Franchise Tax Board.

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3 years ago
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