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algol [13]
3 years ago
14

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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When Julie describes calculating the average number of cookies sold in​ February, she is describing an example of obtaining​ ___
IRINA_888 [86]
Information and Data
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4 years ago
Ellie has been working for an engineering firm and earning an annual salary of $80,000. she decides to open her own engineering
goldenfox [79]
Ellie would have annual expenses of $15000+$3000+$1000+$1200+$35000=$55,200. If she cashed in her $20.000 deposit then her balance owing would be $35,200 so she would have to make at least this much or preferably the $55,200 to break even., 
7 0
4 years ago
On December 1, Victoria Company signed a 90-day, 8% note payable, with a face value of $16,200. What amount of interest expense
elixir [45]

Answer: Interest expense=$108

Explanation:

Interest expense =Principal x Rate x Time ( Period)

Where

Principal = $16,200

Rate =, 8%

TIme ( Period ) =  From December 1st to 31`st = 30 days

Interest expense= P x R x T

= $16,200 X 0.08 X 30/360

=$108

The amount of interest expense accrued at December 31 on the note is $108

6 0
3 years ago
Economies of scope are characterized by A. low capital intensity and low resource flexibility. B. high capital intensity and low
nasty-shy [4]

Answer:

C. high capital intensity and high resource flexibility

Explanation:

Economies of scope describe situations in which the long-run average and marginal cost of a company, organization, or economy decreases, due to the production of some complementary goods and services. An economy of scope means that the production of one good reduces the cost of producing another related good.

7 0
4 years ago
Patty Corporation holds 75 percent of Slider Corporation's voting common stock, acquired at book value. The fair value of the no
Marina86 [1]

Answer:

1) d. $175,000

2) b. $156,250

Explanation:

1. The computation of net income for 20X9 under the treasury stock method is shown below:-

Net income for 20X9 under the treasury stock method = Janet Operating income + Slider operating income

= $100,000 + $75,000

= $175,000

2. The computation of income assigned to the controlling interest for 20X9 is shown below:-

income assigned to the controlling interest for 20X9 = Janet Operating income + (Slider operating income × Remaining percentage)

= $100,000 + ($75,000 × 75%)

= $100,000 + $56,250

= $156,250

Therefore we have applied the above formulas.

5 0
3 years ago
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