Answer:
$39,300
Explanation:
The computation of the net income is shown below:
= Sales - cost of good sold - other monthly expenses - depreciation expense
= $320,000 - $240,000 - $24,700 - $16,000
= $39,300
The cost of goods sold is computed below:
= December sales × cost of goods sold percentage
= $320,000 × 75%
= $240,000
All other information which is given is not relevant. Hence, ignored it
Answer:
D) None of these answers are correct
Explanation:
None of the answers are correct because the definiton of current liability is a debt or obligation that has to paid off before the fiscal year ends. In other words, current liabilities are by definition short-term obligations, and all the options in the question refer to long-term obligations.
Answer:
Finish phase of the project life cycle.
Explanation:
The finish phase (or termination, or completion phase) of a project life cycle is basically when the project is completed and it is being delivered to the customer. Depending on the project, paperwork and documents are handed out to the customer, contracts with workers and suppliers are terminated. Everyone involved with the project must be notified about its completion and all obligations are paid for.
Answer:
b. coins, currency, checks, money orders, money on hand or on deposit in a bank or similar depository.
Explanation:
Cash consists of coins, currency, checks, money orders, money on hand or on deposit in a bank or similar depository. Cash is distinct from postage stamps, credit, money orders or checks that are not physically being held by the holder.
Cash can be defined as a legal tender such as money in its physical form which can typically be used to purchase goods and services, as well as pay debt.
