Answer:
D) $25,000.
Explanation:
The Accrual Basis of Accounting is the process in which income earned or expenses incurred are recorded at the time the transaction takes place, whether or not the cash has been exchanged.
Net Income is derived by subtracting Expenses from Revenue.
N.B. Prepaid Expenses are Advance Payments towards expenses and are a Balance Sheet Items and will not be recorded under Net Income Calculations until the Expenses are realized.
So, The Net Income can be calculated as follows;
Revenue $60,000
Less: Expenses $35,000
Net Income $25,000
Hence Option D will be correct answer.
#NETINCOME
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Answer:
Time donated to a qualified veterans organization
Explanation:
The reason is that the company can only only deduct the products or services delivered which had cost the organization. The companies are not allowed to deduct the cost of time delivered however if the employee is specially paid to offer the services to qualified charitable institution then the charity would be tax deductable.
Faith bought 6 apples at $.78 each. She paid $4.68 for the apples.
Given : $.78 price for each apple
$4.68 the amount Faith spent for the apples.
$4.68 / $.78 = 6
Answer:
If Ricardian neutrality holds true, after this change in the government's budget, private savings will equal 40.
Explanation:
S - I = X - M, where
S = Sp + Sg, where
Sp: private saving
Sg: Public saving = T - G
Sp + T - G - I = X - M
or,
Sp - I = (G - T) - (M - X) = Budget deficit - Trade deficit
Initially,
65 - 30 = 90 - 100 = - 10
When budget deficit falls to 50,
Sp - 90 = 50 - 100
Sp = - 50 + 90 = 40
Therefore, If Ricardian neutrality holds true, after this change in the government's budget, private savings will equal 40.
Answer:
trialability
Explanation:
trialability is the strategy used to try to increase the diffusion of new format using the service
