Answer:
E. $40,600
Explanation:
Calculation for the amount of net income reported on Sparty's income statement
Revenue $97,000
Less: Operating Expenses $39,000
Profit Before Tax $58,000
(97,000-39,000)
Less Taxes $17,400
Net Income $40,600
($58,000-$17,400)
Therefore the amount of net income reported on Sparty's income statement will be $40,600
Answer:
B)owners' equity and decrease assets.
Explanation:
From the question, we are informed about Ringgold Co. Whereby At the end of the current accounting period, Ringgold Co. recorded depreciation of $15,000 on its equipment. In this case, The effect of this entry on the company's balance sheet is to decrease owners' equity and decrease assets. Depreciation can be regarded as type of expense that brings reduction in value of an asset. It can be regarded as scheduled and not estimated expense . Depreciation can be recorded on balance sheet, as well as cash flow statement.
Answer:
$11,200
Explanation:
As not mentioned in the account. It is Assumed that the Larry and Bird are related parties and Bird made a sale at a transfer price of $40,000 with $24,000 cost of inventory.
Bird can only recognize the equity up to the ratio of inventory used or sold by the related party.
As 30% was not consumed then consumption will be 70%, so 70% of the income is realized and it will be recorded.
Equity Income = $40,000 - $24,000 = $16,000
Realized Equity income = $16,000 x 70% = $11,200
* There is some ambiguity in the question given.
Answer: Stakeholder
Explanation:
The stakeholder is the person in an organization that manage all the external and the internal function or the stake of the business.
The main objective of the stakeholder is to managing all the resources, stake, knowledge and the materiel of the company and it also provide some interest to an organization.
According to the question, the stakeholder is basically supply the various types of productive resources ti the firms and then claim on the stake in an organization and this is known as stakeholder.
Therefore, Stakeholder is the correct answer.
D.) The EPA
The United<span> States Environmental Protection Agency(EPA)</span><span> is an agency made by the </span>federal<span> government of the </span>United<span> States for the purpose of protecting human health and the environment by writing and enforcing regulations based on laws passed by Congress.</span>
