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Alexus [3.1K]
3 years ago
9

A company revenue reports the following information as of December 31: Sales revenue $800,000 Cost of goods sold 600,000 Operati

ng income 90,000 Unrealized holding gain on available for sale debt securities, net of tax 30,000. What amount should the company report as comprehensive income as of December 31?
Business
2 answers:
Zanzabum3 years ago
7 0

Answer:

$120,000

Explanation:

The formula to calculate comprehensive income is:

comprehensive income = net income + other comprehensive income

  • net income = operating income = $90,000
  • other comprehensive income* = unrealized holding gains = $30,000

comprehensive income = $90,000 + $30,000 = $120,000

*Other comprehensive income includes unrealized revenues, gains, expenses and losses.

Wittaler [7]3 years ago
4 0

Answer:

$320,000

Explanation:

As we know that the

Comprehensive Income = Operating profits + Unrelated profits

The unrelated profits here is profit generated arising due to the sale of debt securities which is not the core operation of the company and hence is unrelated profits.

So by putting values we have:

Comprehensive Income =  ($800,000 - $600,000 + $90,000)  + $30,000

Comprehensive Income =  $320,000

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Answer:

job 429 -WIP      3040 debit

job 430 -WIP      4020 debit

job 431 -WIP       4740 debit

factory overhead 900 debit

     raw materials             12,700 credit

--to record materials requisions--

job 429 -WIP      2,300 debit

job 430 -WIP      3,400 debit

job 431 -WIP       7,900 debit

factory overhead 1,310 debit

     wages payables            14,910 credit

--to record wages tickets--

job 429 -WIP      1,426 debit

job 430 -WIP      2,046 debit

job 431 -WIP       4,898 debit

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--to record applied overhead--

Explanation:

job 429 -WIP:  2300 x 62% =  1,426

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7 0
3 years ago
Some sellers of used cars provide warranties to buyers, with the aim of reassuring buyers that the car is of good quality. These
NISA [10]

Answer:  

Adverse selection

                         

Explanation:

Adverse selection typically refers to such a circumstance when sellers possess knowledge that customers just don't have, about some type of quality of products — in other terms, it is a method of leveraging asymmetric data.

In other words, Asymmetric information, often referred to as intelligence loss, occurs when any group has better knowledge of data than any of the other group.

Thus, we can conclude that the warranty is given to ensure customers that nothing has been hidden from them.

5 0
3 years ago
Paci Restaurants accepts credit and debit cards as forms of payment. Assume Paci had $14, 000 of credit and debit card sales on
vivado [14]

Answer:

1) assuming that the credit card company's payments are immediate (1 business day)

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Dr Cash 13,580

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Dr Cash 13,580

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8 0
3 years ago
Robert Egger started the DC Kitchen, which has a mission to address hunger by empowering systems, that are already in place, to
wlad13 [49]

Answer:

The answer is True

Explanation:

The DC Kitchen which was started by Robert Egger was meant to address hunger by empowering minds and to meet the needs of those who were in poverty.

8 0
3 years ago
Marshall's & Co. purchased a corner lot in Eglon City five years ago at a cost of $640,000. The lot was recently appraised a
Gala2k [10]

Answer:

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Simply we added the estimated building cost and the appraised cost of the lot so that the initial cash flow amount can come.

All other information which is given is not relevant. Hence, ignored it

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