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3 years ago

The statement that reports net income or loss for a certain period in time is the

Business

1 answer:

Mars2501 [29]3 years ago

8 0

Answer:

The correct answer is: Income statement.

Explanation:

The Income Statement is a report that measures a company's financial performance over a specific accounting period. This statement is also known as the Profit and Loss Statement and Earnings Statement. The Income Statement shows a company's revenues, expenses, net profit, and net loss from both operating and non-operating activities.

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At December 31, 2017, before any year-end adjustments, Macarty Company's Prepaid Insurance account had a balance of $2,700. It w

Whitepunk [10]

Answer:

The adjusted balance for Prepaid Insurance is $1,200. Whereas, the expired Insurance that is to be charged to Profit or Loss Statement is $1,500.

Explanation:

The Double Entry to Record the Expired Resource (Insurance) is:

Insurance Expense (Dr.) $1,500

Prepaid Insurance (Cr.) $1,500

This implies that the adjusted balance for Prepaid Insurance is 2,700 - 1,500 = $1,200.

Thanks!

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3 years ago

Read 2 more answers

The Real Estate Recovery fund is financed through money received from administrative fines and surcharges on new and renewing li

Lelu [443]

Answer:

The correct answer is: $1,000,000 (one million dollars).

Explanation:

The Real Estate Recovery fund is the poll of money collected to refund people who have been affected somehow by real state brokers or salespeople. Fraud, misrepresentation or deceit are considered for his purpose and it is given only when no benefit can be provided to the person affected after court. If the amount implied is greater than $1,000,000 (one million dollars) the Real Estate Recovery Fund is unable to provide any reimbursement aid.

3 0

3 years ago

3) Frito-Lay's gathers daily sales data and sorts it by product line and by region. The marketingmanagers use the data to evalua

Tasya [4]

Answer:

The correct answer is: D. Marketing information system.

Explanation:

Modern marketing requires more dynamic and intelligent information systems every day. The real-time information for decision making every day becomes more relevant. Focusing marketing strategies on the knowledge of customers and markets, requires having antennas placed on the market and multi-source data collection systems that allow anticipating market trends and thus making smarter decisions. Technology, Big Data and artificial intelligence are changing the rules of the Information Systems game.

The Marketing Information System and the digitalization of processes go hand in hand, allowing companies to use technology as a tool for making timely decisions for the market.

8 0

3 years ago

Why are europeans smarter about their own countries governments than we Americans are about ours?

a_sh-v [17]

Well that's not really a question. More of an opinion.

5 0

3 years ago

Net sales$688,500 $450,000 Cost of goods sold 337,364 133,200 Determine the 2016 and 2017 trend percents for net sales using 201

alisha [4.7K]

Answer:

Trend- % change in sales = 34.64%

Explanation:

Trend analysis entails determining the performance of a business over time by comparing its performance data from one period to another. The aim of trend analysis is to identify the behavior of a set of ratios over a period of time by comparing them across different years.

To determine the trend for a particular data, we use the formula below

% Change in variable =

(Current year figure - Previous year figure)/Previous year figure × 100

DATA

Current year figure for sales (2017) - 450,000

Previous year figure for sale (2016) - 688,500

% change in sales = (450,000 -688,500)/688,500 × 100 = 34.64%

% change in sales = 34.64%

This implies that the company made sales in 2017 which is 34.64% less than that made in 2016

5 0

3 years ago