Answer:
A. That money earns interest when the bank loans it out.
Explanation:
Banks pay their customers interest on the money in their accounts because that money earns interest when the bank loans it out.
<span>perhaps u want the formula for the percentage of markup, giving the cost and selling price.
..(selling price) = (cost) + (Markup)
..(selling price) - (cost) = (markup)
so,
..(markup)/(selling price)*100% = ((selling price) - (cost))/(selling price) * 100%
.. =(1 -(cost)/(selling price))*100%
</span>
Answer:
B. Prepaid insurance is shown on the income statement
Explanation:
Prepaid insurance first and foremost is a current asset and as such will not reflect in the income statement but in the statement of Financial Position or Balance Sheet.
Although, prepaid insurance will be shown as paid within the year, it must be deducted from the insurance premium paid for the current year and then reported in the balance sheet as a current asset.
Prepaid insurance is treated as a current asset because it is an indication of insurance premiums paid for by the company in advance. It is a payment for economic benefits that will be enjoyed in the future, therefore it is a current asset. The only part of an insurance premium that shows in the income statement is the insurance expense paid for insurance benefit enjoyed in the current period
Answer:
A. The only way to calculate the sales revenue needed to achieve a target profit is by using the formula provided in class
Explanation:
Divide the numbers on the first graph by 1’s and you get your answer
