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3 years ago

The income statement is prepared from:

Business

1 answer:

yawa3891 [41]3 years ago

8 0

Answer:

The correct answer is letter "B": either the adjusted trial balance or the Income Statement columns of the end-of-period spreadsheet.

Explanation:

The Income Statement is a report that evaluates the financial performance of a company for a given accounting period. The Income Statement shows a company's revenues, expenses, and net profit from both operating and non-operating activities. It lists the company's net sales, cost of sales, selling, administrative expenses, extraordinary items and other income or expenses which helps to reveal the firm's gross profit, operating profit, pre-tax profit, and after-tax profit.

The Adjusted Trial Balance is the result of computing all the accounts from all general ledgers to find out if the frim's debits equal its credits. The income statement can be prepared from this document or the very same Income Statement columns by the end of the period.

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you need a 20-year, fixed-rate mortgage to buy a new home for $210,000. Your mortgage bank will lend you the money at a 7.1 perc

Delicious77 [7]

Answer: $337,869.73

Explanation:

Find out the future value of $1,000 given an interest rate of 7.1%. If this amount is less than the future value of $210,000, the difference is added to the final payment to come up with the balloon payment.

The APR needs to be made periodic:

= 7.1% / 12

The $1,000 payment is an annuity so this can be calculated as:

= Annuity * ( ( 1 + rate) ^ number of periods - 1) / rate

= 1,000 * ( ( 1 + 7.1/ 12%) ²⁴⁰ - 1) / 7.1/12%

= $527,297.83

Future value of $210,000

= 210,000 * ( 1 + 7.1/ 12%) ²⁴⁰

= $865,167.56

Balloon payment will be:

= 865,167.56 - 527,297.83

= $337,869.73

3 0

3 years ago

Which of the following is true of taxes and subsidies? Group of answer choices Politicians like to levy taxes, but they are relu

Vadim26 [7]

Answer: If you tax something, you will get less of it; if you subsidize an activity, you will get more of it

Explanation:

Taxes are the levy that governments impose on people or firms. Subsidies are financial aid to companies in order to boost production and reduce price.

It should be noted that if you tax something, you will get less of it; if you subsidize an activity, you will get more of it. For example of an income is taxed, the owner of the income will geta lesser amount as tax will be removed.

6 0

3 years ago

National Storage issued $90 million of its 10% bonds on April 1, 2018, at 99 plus accrued interest. The bonds are dated January

Ahat [919]

Answer:

The total amount of cash received is $91,350,000

Explanation:

The amount of cash proceeds realized from the bond issuance is the 99% of face value of $90 million plus the coupon interest due from January 2018(date of the bond) to April 1 ,2018(the date of bond issuance),that is three months of coupon interest payment.

The bond proceeds is computed as below:

Discounted bond price 99%*$90,000,000 =$ 89,100,000

Three months of interest 10%*$90,000,000*3/12 =$2,250,000

Total amount received from bond issue $91,350,000

3 0

3 years ago

What is Advertising , according to the American Marketing Association

Alexus [3.1K]

American Marketing Association recognizes the term advertising as – any paid form of non- personal presentation and promotion of ideas, goods and services by an identified sponsor. ... Advertising is a non-personal form of communication because it uses mass media forms.

5 0

2 years ago

An annual has 15 years to maturity. It has a coupon rate of 5%, a YTM of 8%. Fill in the cells highlighted in yellow, and aswer

grin007 [14]

Answer:

Market value at 8% YTM $ 743.2156

at 10% YTM $ 619.6960

Explanation:

Assuming the face value is 1,000 as common outstanding American company's bonds:

Market value under the current scenario:

Present value of the coupon payment:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

Coupon: $1,000 x 5% = 50

time 15 years

rate 0.08

$50 \times \frac{1-(1+0.08)^{-15} }{0.08} = PV\\$

PV $427.9739

Present Value of the Maturity

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 1,000.00

time 15.00

rate 0.08

$\frac{1000}{(1 + 0.08)^{15} } = PV$

PV 315.24

PV c $427.9739

PV m $315.2417

Total $743.2156

If the interest rate in the market increaseby 2% then investor will only trade the bonds to get a yield 2% higher that is 10% so we recalculate the new price:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 50.000

time 15

rate 0.1

$50 \times \frac{1-(1+0.1)^{-15} }{0.1} = PV\\$

PV $380.3040

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 1,000.00

time 15.00

rate 0.1

$\frac{1000}{(1 + 0.1)^{15} } = PV$

PV 239.39

PV c $380.3040

PV m $239.3920

Total $619.6960

Giving a lower price than before

3 0

3 years ago