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earnstyle [38]
3 years ago
5

In what order are the following financial statements prepared: (1) Balance sheet, (2) income statement, and (3) statement of sto

ckholders' equity?
A. 1, 2, 3.
B. 3, 2, 1.
C. 1, 3, 2.
D.2, 3, 1.
Business
1 answer:
Marta_Voda [28]3 years ago
6 0

Answer:

D.2, 3, 1.

Explanation:

The order of preparing the financial statement is described below:

1. Income statement

2. Statement of stockholder equity

3. Balance sheet

4. Cash flow statement

The income statement records all revenues generated and expenses incurred during a particular period.

The Statement of stockholder equity consists of common stock and the retained earning through which the ending balance could be computed.  

The balance sheet reports the assets and liabilities of the company

And, the cash flow statement analyzes the cash inflow and cash outflow position of the company

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A company's normal selling price for its product is $20 per unit. However, due to market competition, the selling price has fall
Scorpion4ik [409]

Answer:

$2,600

Explanation:

Calculation of the value of the company's inventory at the lower of cost or market.

Current FIFO inventory ×Net realizable value

Where,

Current FIFO inventory= 200 units

Net realizable value $13 per unit

Therefore,

200 units *$13 per unit = $2,600.

Lower cost of market can be said to mean that the inventory cost at either the purchase cost or replacement value .

Bases on the information given in the question, replacement cost is lower or lesser than the purchase cost which is why the inventory units are been cost at the replacement value of $13 each.

6 0
2 years ago
Why would the federal reserve enact an easy money policy
kirza4 [7]

Answer:

Easy money is a representation of how the Fed can stimulate the economy using monetary policy. The Fed looks to create easy money when it wants to lower unemployment and boost economic growth, but a major side effect of doing so is inflation.

Explanation:

5 0
2 years ago
The period between March 9 and June 16, 1933, when Congress passed 15 major acts to meet an economic crisis, was called________.
JulijaS [17]

Answer:

Hundred Days

Explanation:

The period between March 9 and June 16, 1933, when Congress passed 15 major acts to meet the economic crisis of the Depression was called <u>the hundred Days</u>. As we know that the First New Deal began in a whirlwind of legislative action called “The First Hundred Days.” From March through June 1933, at Roosevelt’s behest, Congress passed legislation aimed at addressing the banking crisis, unemployment, and weak industrial performance, among other problems, through an “alphabet soup” of new laws and agencies.

3 0
3 years ago
Which of the following is NOT an advantage of owning a car?
Yuri [45]
I think it’s D but I’m not sure
5 0
3 years ago
Read 2 more answers
Happy Maids cleans commercial buildings. In March, Happy Maids started and completed two jobs, Job 1000 and Job 1001. The job co
vodomira [7]

Answer:

C :Job 1000, $1,860; Job 1001, $3,100

Explanation:

The computation of the total cost is shown below:

For Job 1000:

= Direct materials + Direct labor hours × wage rate per hour × Direct labor hours × overhead rate per hour

= $1,200 + 30 × $15 + 30 × $7

= $1,200 + $450 + $210

= $1,860

For Job 1001:

= Direct materials + Direct labor hours × wage rate per hour × Direct labor hours × overhead rate per hour

= $2,000 + 50 × $15 + 50 × $7

= $2,000 + $750 + $350

= $3,100

5 0
3 years ago
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