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kotegsom [21]
4 years ago
11

The general ledger of the Fly-Buy-Nite (FBN) Engineering Company contained the following account balances. Construct an income s

tatement. What is the net income before taxes and the net profit (or loss) after taxes? Amount($1,000s)Administrative expenses 2,750Sub-contracted services 15,000 Development expenses 900Interest expense 200Sales revenue 35,000 Selling expenses 4,500
Business
1 answer:
Amiraneli [1.4K]4 years ago
8 0

Answer:

Fly-Buy-Nite (FBN) Engineering Company

Income Statement

Sales revenue                                          35,000

Less Expenses :

Administrative expenses      2,750

Sub-contracted services     15,000

Development expenses           900

Interest expense                       200

Selling expenses                    4,500      (23,350)

Net Income                                               11,650

Net Income before taxes is $11,650

Explanation:

The Income Statement shows operating results that is Profit or Loss resulting from trading operations of the company. Profit or Loss = Sales less Expenses.

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Presented below is net asset information related to the Skysong Division, Inc.
dexar [7]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

3 0
4 years ago
What investment type typically carries the least risk
Angelina_Jolie [31]
Certificates of Deposit (CDs), U.S Treasury Bills, and savings accounts are generally regarded as the least risky investments, given that they are backed - at least up to a certain limit - by the U.S government. 

CDs are essentially fixed-term savings accounts, which means you must deposit your funds for a set amount of time, until the account reaches what is called "maturity." Withdrawing funds before this point typically leads to a fee. In return for sacrificing liquidity, CDs tend to offer higher interest rates than normal savings accounts. These rates are most often fixed, though they sometimes come with a feature that enables you to readjust your interest rates once over your account's lifetime. Bank-issued CDs are also insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per depositor, though this figure has dropped to $100,000 January 1, 2014. Credit Union-issued CDs are insured by another government agency, the National Credit Union Administration (NCUA), which provides the same coverage as the FDIC. 

U.S Treasury Bills are sold by the government to investors as a way to fund short-term government debts. If you purchase a U.S Treasury Bill, you are basically loaning the government a certain amount of money in return for the government's promise to pay you back with a predetermined higher amount when the bill reaches maturity. U.S Treasury Bills are typically issued with maturity terms of one month, three months, six months and 1 year.

As we all know, savings accounts are offered by banks and credit unions and provide variable interest rates, which means their rates fluctuate in accordance with the Prime Rate. While there is no time requirement for a savings account, as there is with a CD, the law only allows consumers to make up to six transfers or withdrawals from a savings account per month (not including in-person ATM or branch withdrawals). Savings accounts offer the same as insurance protections as CDs.

Hope this helps you =)

6 0
3 years ago
Anthony votes in favor of a bill which would prevent people above a certain level of income from being able to purchase subsidiz
Fynjy0 [20]

Answer:

Letter C is correct.<u> Social Justice Theory.</u>

Explanation:

The most suitable alternative for this issue is letter c, Theory of Social Justice.

This theory refers to an ethical and political philosophy that states that there is justice beyond those recognized by the economic law of supply and demand, civil and criminal law, and the social and moral rules and structures of society. According to this theory, social justice refers to relationships that must be fair to all groups in society, that is, all people must have equal access to health, well-being, justice, opportunities, etc., regardless of their conditions. political, economic or other.

Social justice theory can punish or favor individuals regardless of their characteristics, choices or actions.

In the above question, we can say that social justice is adequate, because in economic terms, it is able to grant opportunities, redistribution of wealth and income to groups considered oppressed by certain oppressors.

8 0
3 years ago
A firm’s managers realize they cannot monitor all aspects of their projects but do want to maintain a constant focus on the key
lianna [129]

Answer:

A)

Explanation:

For this specific desire of the company, they should focus on Sensitivity analysis, in order to identify the key variable that affects a project’s profitability. Sensitivity analysis focuses on determining how a target variable is affected based on changes in other known variables. This allows a company to tweak and determine which changes will have the greatest positive outcome for each specific project that they are working on.

5 0
3 years ago
Which of the following is disclosed separately in a statement of cash flows using the indirect method?
Novosadov [1.4K]

Answer:

C. Increase in retained earnings for the period

Explanation:

The Standard that deals with the Presentation and discloser of Cash flow statement (IAS7) requires that the items that do not involve the use of cash must be disclosed separately. That means item C , increases in retained earnings for the period is disclosed separately since it does not involve the use of cash.

8 0
3 years ago
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