The answer is Revenues and liabilities. The lessening in liabilities is accounted for on the charge side of a diary section. Proprietor's Equity is accounted for on the monetary record. Proprietor's value accounts have typical adjusts on the credit side. Income accounts have ordinary adjusts on the credit side.
Answer:
Explanation:
Since the delivery is being attempted after the date of the contract, it is Grapes & Vines breaching the contract. Grapes & Vines’s failure to deliver on May 1 and its failure to inform Ellen of the delays a material breach releasing her from any liability under the contract. The court will most likely rule that not only has Ellen not broken the contract, that Grapes & Vines must pay her court costs due to the frivolous nature of the lawsuit.
Answer:
Brad would likely to react by reducing the efforts on future projects.
Explanation:
In accordance with the equity theory, it states that if an employee feels or perceive inequity, then they will try to create equitable exchanges of their rewards and their efforts. The common reaction in this situation would be is to reduce the efforts on further or future project.
Answer:
Multiple-step income statement for the year ending December 31, year 1
Sales $275,200
Cost of Goods Sold <u>($185,000)</u>
Gross Profit $90,200
Operating Expenses:
Administrative Expense ($35,000)
Selling expenses <u>($55,000)</u>
General Expense <u>($45,000)</u>
Operating Income ($44,800)
Non-Operating Revenue <u>$105,000</u>
Operating Income before tax $60,200
Income taxes <u>($25,000)</u>
Operating Income after Tax <u>$35,200</u>
Explanation:
Multi-step Income statement segregate the Operating Income and Expenses from non operating Income and Expense. It shows the gross profit and net operating income separately.