Answer:
$ 197 541
Explanation:
Thinking process:
Number of employees = 480
Recruiting costs incurred for the year = $ 5 000
The total cost for the 480 employees = $ 5 000 × 480
= 2 400 000
Then the turnover rate = 6.3314%
= 0.063314
The amount due to the turnover = 0.063314×2 400 000
= $ 197 541
Cobra, Inc should report $1,015 ($450+$565) for desks at the end of March based on the transaction data on the question above. The Cobra, Inc should report the desk cost in their book when they have purchased the desk because they already have the ownership of it. The transaction on March 24 should be reported as the debt payment to the desk seller.
Answer:
Which question ans...there are 2 questions..
Answer:
1. Income Statement
2. Balance Sheet
3. Statement of owner's equity (If it is a corporation)
4. Cash flow statement
Explanation:
1. Income statement: A financial statement showing the revenues and expenses of a particular firm or a company in a specific period is an income statement. An entrepreneur knows the gross profit, net income from the operation, tax expenses. If it is a corporation, an entrepreneur can get the idea of earnings' per share as well.
2. Balance Sheet: A financial statement representing the total assets and total liabilities, and owner's capital is known as the balance sheet. The balance sheet includes current assets, non-current assets, current liabilities, long-term liabilities, and owner's equity. The income statement is prepared for an accounting period where the Balance sheet is prepared for a specific date.
The other important financial statements are -
3. If the firm is a publicly held or privately held corporation, the statement of owners' equity is needed. It shows the beginning balance, retained earnings, and dividend paid by the company.
4. Cash flow statement: A financial statement showing the cash inflow and outflow are called cash flow statement.
