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3 years ago

Given the data below for a firm in its first year of operation, determine net income under the accrual

Business

1 answer:

Lostsunrise [7]3 years ago

6 0

Answer:

correct option is a. $11,750

Explanation:

given data

Revenue recognized = $19,000

Accounts receivable = 3,000

Expenses incurred = 7,250

Accounts payable = 750

Supplies purchased = 1,800

solution

we get here net income that is express as here

Net Income = Revenue recognized - Expenses incurred .........................1

put here value and we will get net income

Net Income = $19000 - $7250

Net Income = $11750

so here correct option is a. $11,750

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You just inherited a trust that will pay you $100,000 per year in perpetuity. However, the first payment will not occur for exac

allsm [11]

Answer:

PV= $620,921.32

Explanation:

Giving the following information:

Cash flow (Cf)= $100,000

Interest rate (i)= 7.25%

<u>First, we need to calculate the value of the investment at the moment of the first payment (five years from now). </u>To calculate the present value we need to use the following formula:

PV= Cf / i

PV= 100,000 / 0.1

PV= $1,000,000

<u>Now, the value today:</u>

PV= FV / (1 + i)^n

PV= 1,000,000 / (1.1^5)

PV= $620,921.32

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3 years ago

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Savatey [412]

A is the correct answer.

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3 years ago

In November 2016, General Motors produced a car that was delivered to a local dealership in December 2016. The auto was sold to

horsena [70]

Answer:

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Explanation:

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Therefore, following national income accounting practices, the car would be counted as part of the investments and GDP of 2016, and negative investment in 2017, because that was the year in which it was produced.

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3 years ago

Matthew manages the sales team at an information technology (IT) firm. His focus is to conduct business in accordance with his f

Romashka-Z-Leto [24]

Answer: utilitarian

Explanation:

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Like other forms of moral theories, its core principles is that whether an action is morally right or wrong depends on the final outcome or effects of such actions.

To be more specific, the only effects of actions that are relevant here are the good and bad results that they produce that such action produces nothing else matters.

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3 years ago

Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability poli

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Answer:

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Explanation:

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The balance of $18000 would be left in the prepaid insurance account,whereas the balance damage crop policy account would be enough for the coming year, there is a need for 6 months insurance policy payment in respect of liability policy in the year 2022

6 0

3 years ago