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navik [9.2K]
3 years ago
10

As a small business owner in today’s economy, what three financial reports would you use on a regular basis? What information wo

uld you find on each statement? What decisions might each statement help you make? Please provide specific examples.
Business
1 answer:
nalin [4]3 years ago
6 0

Answer: Balance Sheet

Profit and Loss Statement

Cash Flow Statement

Explanation:

Balance Sheet or the statement of Financial Position  is a report that shows the assets that your business owns against your equity and liabilities. This report can help you make asset purchasing decisions or decisions about how to fund the acquisition of new assets.

Profit and Loss Statement: shows a detail of the income your business has earned, the expenses you incurred to earn this income and your profit/loss. This report can help you figure out if your expenses are too high or the prices you charge for your goods/services are too low.

Cash Flow Statement: shows your liquidity position at different points during a financial period. This report is important as it allows you to see periods when you may need an extra inflow of funds to keep your business operational and can help you decide when to apply for bank loans or whether to delay the purchase of some assets.

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Under the uniform capitalization rules applicable to taxpayers with property acquired for resale, which of the following costs s
pashok25 [27]

Answer:

The correct answer is A

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6 0
2 years ago
The Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 10,000 units duri
alexandr402 [8]

Answer:

Equivalent units

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Covnersion Cost   9, 100

Explanation:

\left[\begin{array}{cccc}&$Physical Units&$Materials&$Conversion\\$Beginning&2,000&0.6&0.4\\$Transferred out&9,000&&\\$Ending&3,000&0.8&0.3\\$Equivalent Units&&10,200&9,100\\\end{array}\right]

The equivalent units will be calcualte as follow:

 transferred out

 ending x completion

<u>  (beginning x completion)  </u>

Equivalent units

<u>Materials</u>

9,000 + 3,000 x 80% - 2,000 x 60% = 10,200

<u>Conversion Cost</u>

9,000 + 3,000 x 30% - 2,000 x 40% = 9,100

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Answer:

Evaluate Motor Status

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