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2 years ago

The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the

Business

1 answer:

Dafna11 [192]2 years ago

3 0

Answer:

Income Statement

Explanation:

The purpose of an income statement is to shows stakeholders whether the company generated a profit in that specific year or not. They use this information as a basis to create their plan for the next year.

In simple form, Income statement is calculated by:

(Total sales + non-operating revenue ) - (Cost of goods sold + Operating expenses)

If the result of the calculation above is positive, it means that the Company generated a profit. But if it's a negative, it means that the company had a loss in that period.

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From this partial advertisement: Used car $93.38 per month for 60 months Cash price $4,200 Down payment $50 a. Calculate the amo

ludmilkaskok [199]

Answer: The answer is as follows:

Explanation:

Given that,

Used car $93.38 per month for 60 months

Cash price = $4,200

Down payment = $50

(a) Amount Financed = Total Value (Cash Price) - Down Payment

= 4200 - 50

= $4150

(b) Finance Charge = Total payments - Amount Financed

= 93.38 × 60 - 4150

= 5602.8 - 4150

= $1452.8

= 50 + 5602.8

= $5652.8

8 0

2 years ago

You survey 125 employees and determine that 25 are extremely unhappy. As you walk the floor, you run into a random employee, wha

Alex17521 [72]

Answer:

0.2 or 20%

Explanation:

The odds of meeting an unhappy person will be the no. of unhappy people divided by the sample size.

=25/125

=1/5

The odds are 1 in every five people is extremely unhappy.

1/5 = 0.2 or 20%

4 0

2 years ago

Logistics Trucking Company operates a fleet of fuel trucks. When one of the trucks is positioned to receive a load of biofuel, i

Ierofanga [76]

Answer:

grdhyh

Explanation:

6 0

3 years ago

Before considering a net operating loss carryforward of $74 million, Fama Corporation reported $210 million of pretax accounting

balu736 [363]

Answer:

correct option is $37 million

Explanation:

given data

net operating loss = $74 million

pretax accounting and taxable income = $210 million

income tax rate = 38%

reducing the rate = 27%

to find out

Fama's income tax payable for the current

solution

we know here net taxable income that is express as

net taxable income = pretax accounting and taxable income - net operating loss ...................1

put here value we get

net taxable income = 210000 - 74000

net taxable income = $136000

and tax is here = 27 % of $136000

tax = 0.27 × $136000

tax = $36720 = 37000

So correct option is $37 million

7 0

3 years ago

Milo Co. had 600,000 shares of common stock outstanding on January 1. On May 1, Milo issued 126,000 shares. On September 1, Milo

PtichkaEL [24]

Answer:

b. 663,000

Explanation:

Outstanding shares refers to the total number of stock held by investors at a particular time. They are the shares issued out to both retail and institutional investors and insiders, such as directors and employees. Outstanding shares will exclude shares that have been repurchased back by the issuing company (treasury stock).

The weighted average share outstanding takes into consideration the duration of time that issued stocks have been in the markets. It allocates value proportionately to the time in the market.

For Millo Co, the weighted average share outstanding for the year will be

1. January 1, 600,000

2. May 1, issued 126,000 shares ( 8 months)

weighted for the year=8/12 x 126,000 = 84,000

3. September 1, purchased 63,000 treasury stock

(4 months) weighted value will be

= 4/12 x 63,000= 21,000

The weighted average share outstanding

Beginning balance plus shares issued out minus repurchased shares(treasury stock)

=600,000 + 84,000 -21,000

=663,000

6 0

3 years ago