Answer:technological environment, economic and legal environment, competitive environment
Explanation:
Answer:
The profit that they keep to reinvest in the business is recorded as D : retained earnings.
Explanation:
Retained earnings (RE) is the amount of net income left over for the business after it has paid out dividends to its shareholders.
Any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.
<h3>What does Texas Constitution require a balanced budget?</h3>
- Texas always keeps its budget balanced because the State Constitution demands it. The Texas state and local sales taxes exceed 10% of the individual transaction price. The primary operating fund for Texas is the General Revenue Dedicated Fund.
- A constitutional amendment known as the "balanced budget amendment" would restrict government spending to the amount of revenue it receives. Spending would need to be under control by the federal government.
An amendment to the texas constitution requires a balanced budget. This means that any increase in government spending must be offset by an increase in revenue and/or cuts in spending elsewhere in the budget.
According to a balanced budget, a government should not spend more than its income. Thus projected incomes and expenditures should be equal.
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Gross Profit is calculated by deducting the cost of goods sold, sales return and sales discount from the sales. The operating expenses is not considered for gross profit. The same is deducted from the gross profit for finding the net profit.
Gross Profit = Sales - Cost of goods sold - Sales Return - Sales Discount
Gross Profit = $150,000 - $67,000 - $13,000 - $6,000
Gross Profit = $150,000 - $86,000
Gross Profit = $ 64,000
Thus, gross profit is $64,000
Answer:
By following the Accountants Principle and Dicksons policy of debiting Bad debt accounts as Accounts are written off, the Net income would have been impacted negatively (reduced) by the write off from Prior period of $31,330 only
However, by following the % of receivables approach, a total of $31,330 (Write off from prior period) + $9,240 (current period provision for bad debt) will impact the Net Income negatively (reduced) = $40,570
Explanation:
Accounts receivable balance = $77,000
12% projected uncollectible debt = $9,240
Provision for bad debt under the % of receivables approach = $9,240
Amount written off related to prior year = $31,330
