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3 years ago

Information needed to prepare an income statement’s Expense section is obtained from a work sheet’s Account Title column and

Business

1 answer:

Mars2501 [29]3 years ago

8 0

Answer:

Option (A) is correct.

Explanation:

Income statement have an operating section which includes revenue and expenses section.

Revenue section of the operating section includes all the cash inflows and all the values that represents the appreciation of the assets.

On the other hand, expenses section of the operating section includes all types cash outflows and those activities which reduces the value of the assets of the company or increases liability.

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Radon Corporation manufactured 34 comma 10034,100 units during March. The following fixed overhead data pertain to March:

Llana [10]

Answer:

$38,750 Favorable

Explanation:

Fixed overhead absorption rate:

= Fixed Overhead Costs for March (static budget) ÷ Production(static budget)

= $387,500 ÷ 31,000

= 12.5 per unit

Fixed overhead production−volume variance:

= Amount actually applied - Amount budgeted

= (12.5 × 34,100) - $387,500

= $426,250 - $387,500

= $38,750 Favorable

3 0

3 years ago

Medicaid is federal health insurance program for senior citizens regardless

malfutka [58]

Answer:

False

Explanation:

Medicaid is for all-ages (not just senior citizens) and for low-income Americans.

3 0

3 years ago

Read 2 more answers

The George Company has a policy of maintaining an end-of-month cash balance of at least $40,000. In months where a shortfall is

Amiraneli [1.4K]

Answer:

A.$130

B. $13,130

Explanation:

Loan taken at the beginning of april in order to maintain cash balance of $40,000 = $40,000 - $27,200 = $12,800 = $13,000 (Increment of $1,000)

Interest payment estimated for april = $13,000*12%*1/12 = $130

Solution b:

Cash balance at the end of april = $27,200 + $13,000 - $130 = $40,070

Cash balance at the end of may before financing effect = Cash balance at the beginning + Excess of cash collected over cash payments

= $40,070 + $31,200 = $71,270

Total financin effect for may = Loan repayment + Interest repayment = $13,000 + $13,000*12%*1/12 = $13,130

3 0

3 years ago

What type of international risk exposure measures the change in present value of a firm resulting from changes in future operati

Alex787 [66]

Answer:

operating exposure

Explanation:

Based on the scenario being described within the question it can be said that the term being mentioned is known as operating exposure and deals with the company's operations over various months or years and the changes incurred due to unexpected changes in the exchange rate. The exchange rate is the price at which one currency is traded for another. Drastic changes in these rates can cause assets value to decline drastically.

4 0

3 years ago

Seth has a monthly income of $2,500. He has a $400 car payment and owes $225 on electronic equipment. What is the percentage of

WITCHER [35]

Answer:

25%

Explanation:

Given:

Seth has a monthly income of $2,500

He has a $400 car payment

He owes $225 on electronic equipment.

Question asked:

What is the percentage of Seth's income he is paying out in debt payments?

Solution:

He has a car payment = $400

He owes on electronic equipment = $225

<em>These two items are treated as debt for Seth as these items are used first then pay for it.</em>

Total debt = $400 + $225

Total debt = $625

Now, we will find percentage of Seth's income he is paying out in debt payments,

$Percentage =\frac{Total \ monthly \ debt}{Total \ monthly\ income}$

$=\frac{625}{2500} \times100\\\\ =\frac{62500}{2500} \\\\ =25$

Therefore, 25% of Seth's income he is paying out in debt payments.

4 0

3 years ago