Answer:
A. an overstatement of net income and an understatement of liabilities.
Explanation:
Answer:
C) Using the deductive outline in the second response
Explanation:
an indirect approach will not work
Answer:
The correct statement related to the pro forma statements is:
The addition to retained earnings is equal to net income less cash dividends.
Explanation:
When the beginning retained earnings are increased by the addition to retained earnings, it means that the cash dividends have been subtracted from the net income. This addition is the leftover net income after offsetting the dividends. It increases the retained earnings by the end of the financial period.
I believe the answer is: she would have to accumulate the amount of hours she works and costs for things she need to do her job.
Both of these could be use to determine the tax bracket where Sara belonged and could be considered as tax deduction that could be made to reclaim some part of Sara's tax payment. This would give Sara the most amount of income that she could use for future consumption.
First, we need to calculate for the total return of the project by multiplying 4,930 by 65. Doing so will give us an answer of $320,450. Then, we calculate the rate of return as shown below.
rate of return = ($320,450 / $238,400) x 100%
= 134.42%
Thus, the rate of return of the said project is approximately 134.42%.