Answer: The answers are provided below.
Explanation:
a. The trial balance is a worksheet whereby every balance of all the ledgers will be compiled to the debit and the credit account column and the totals are equal.
The trial balance has been attached.
b. The Net income which is also referred to as the net earnings, is calculated as the sales minus the cost of goods sold, general, selling, operating and administrative expenses,
interest, depreciationn, taxes, and
every other expenses.
In this case, the net income will be the value of the operating expenses subtracted from the fees earned. This will be:
Net income will be:
= 12300-6940
= 5360
Answer:
in my view the most applicable answer is task method of budgeting.
There is a reason why I'm saying this. In task method budgeting, the amount allocated is specific and is related with a specific marketing objective. this budget can be flexible of course and this is a good way to measure the performance and the progress of the marketing campaigns as well.
because this budgeting is forward looking, well planned, has room for change and improvement along with specific goals and objectives, this can save money for the company and reduce wastage and impulsive marketing spending of managers.
so in a way, we can say that this is good from the long term prospect for the company.
Explanation:
Vertical Integration is the answer
Answer:
$441,000
Explanation:
The U Co. accrual- basis purchases for the current year can be determined using the following mentioned formula:
Accrual basis purchases=ending accounts payable balance+Cash paid for purchases during the current year-opening accounts payable balance
Accrual basis purchases=$50,000+$455,000-$64,000=$441,000
According to the accrual accounting revenue recognition concept, revenues must be recognized when they are earned and realized rather than when cash is received.
A generally accepted accounting standard (GAAP) called revenue recognition specifies the particular circumstances under which revenue is recognized and how to account for it. When a significant event occurs, revenue is typically realized, and the corporation can simply quantify the financial amount. The foundation of any corporate performance is revenue. The sale is the keystone. Regulators are aware of how alluring it may be for businesses to stretch the boundaries of what constitutes income, particularly when not all cash is collected until the task is finished.
To learn more about revenue recognition principle here
brainly.com/question/28218373
#SPJ4