Answer:
Explanation:
In business, there are a multitude of transactions which takes place day-in-day-out. It is upon the company’s accountant to know whether a transaction is an expense or a revenue. Both advertisement and accrued wages are expenses. Accountants are required record every transaction accurately on the journal to avoid miss leading the company. Therefore, advertisements will go in the advertisement expense account, and accrued wages for the month will be recorded as accrued expenses.
Answer:
$1.7
Explanation:
From the question above Kirova company recorder the following information
Number of issued common shares is 990,000
Net income is $1,436,500
Number of authorized common share is 1,000,000
Weighted average income of outstanding common shares is 845,000
Number of treasury shares is 145,000
The formular to calculate the earning per share is
= Net income/Outstanding shares
Net income= $1,436,500
Outstanding shares= number of issued common shares- number of treasury shares
= 990,000-145,000
= 845,000
Therefore, the earnings per share can be calculated as follows
= 1,436,500/845,000
= $1.7
Hence Kirova's earning per share is $1.7
Answer:
$1,000
Explanation:
Donna purchased series of savings bond for $2,500 at the age of 25
This year Donna redeemed the bond of $5,000
She paid $3,000 as expenses for her daughter education
The first step is the calculate the interest income
= $3,000/$5,000 × $2,500
= 0.6 × $2500
= $1,500
Therefore the interest that will be required by Donna to include in her gross income this year can be calculated as follows
= $2,500-$1,500
= $1,000
Hence Donna is required to include an interest of $1,000 in her gross income this year
Answer:
Paid wages will reduce the net income as an expense. Net income becomes Retained earnings which are added to Equity. Paid wages will therefore <u>reduce the Equity </u>in the accounting equation.
Outstanding wages however, will be transferred to a liability account to show that the company owes those wages. This will therefore <u>increase the liabilities</u> in the accounting equation.
Answer:
Currency prices can be determined in two main ways: a floating rate or a fixed rate. A floating rate is determined by the open market through supply and demand on global currency markets. ... 5 Therefore, most exchange rates are not set but are determined by on-going trading activity in the world's currency markets.