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3 years ago

Financial statements are reports on the financial performance of organizations. they provide data on

Business

1 answer:

gregori [183]3 years ago

8 0

Answer:

Financial statements are reports on the financial performance of organizations. They provide data on

a. The organization's profitability and goal achievement

b. Changes in the Cash flows and positions, according to activities

c. Financial position in terms of assets, liabilities, and stockholders' equity

Explanation:

The financial statements that provide the above data are the Income Statement, the Statement of Cash Flows, and the Balance Sheet. They are the main financial statements required by GAAP and investors who want to analyze the organization. In the case of governmental and non-profit making organizations, their income statement is known as a Statement of Revenue, Expenses, and Changes in Net Assets.

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Brown Company manufactures luggage sets. Brown sells its luggage sets to department stores. Brown expects to sel 1,700 luggage s

Svetradugi [14.3K]

Answer:

sales budget for January and February are given below

Explanation:

given data

luggage sets = 1700

sell = $180 each

luggage sets = 2050

sell = $180

to find out

sales budget for January and February

solution

Sales Budget

January February

Budgeted luggage sets to be sold 1,700 2,050

Sales price per unit 180 180

total sales 306000 369000

here sale is sold Budgeted luggage × Sales price

3 0

3 years ago

On January 1, 2012, Gucci Brothers Inc. started the year with a $492,000 balance in Retained Earnings and a $605,000 balance in

dsp73

Answer:

option (C) $1,201,300

Explanation:

Data provided in the question:

Balance in retained earnings = $492,000

Balance in Common Stock = $605,000

Net income earned = $92,000

Dividend paid = $15,200

Common stocks issued = $27,500

Now,

Common Stock

= Balance in Common Stock + Common stocks issued

= $605,000 + $27,500

= $632,500

Retained Earnings

= Balance in retained earnings + Net income earned - Dividend paid

= $492,000 + $92,000 - $15,200

= $568,800

Total Stock Holders Equity on Dec 31,2012

= Common Stock + Retained Earnings

= $632,500 + $568,800

= $1,201,300

Hence,

The answer is option (C) $1,201,300

4 0

3 years ago

Suppose that policymakers are considering placing a tax on either of two markets. In Market A, the tax will have a significant e

slava [35]

Answer:

The answer is: B) Market B

Explanation:

Deadweight loss refers to an economic loss caused by market inefficiencies.

Market inefficiencies occur when supply and demand are not in equilibrium. In market A, the tax will barely affect the equilibrium quantity, so the deadweight loss will not be as large as in market B where the equilibrium quantity will be severely affected.

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3 years ago

What are the three types of economic resources? Give an example of each type of resource.

fiasKO [112]

"The three types of economic resources are also referred to as factors of production. Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and when you combine all of those you get production. "

8 0

3 years ago

Read 2 more answers

Do Public schools, charities and government agencies seek for profit

Delvig [45]

Well in order to run the business no matter which type it is there is a need for revenue, not profit, unless it is private. For public school revenue comes from the State and when a local shop sponsor.

7 0

3 years ago