1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tekilochka [14]
3 years ago
10

Identify the two basic categories of items on an income statement.

Business
1 answer:
Assoli18 [71]3 years ago
5 0

Answer:

  • Revenue
  • Expenses

Explanation:

The Income statement is used to check the financial performance of a company within a period by calculating the net income or losses made.

It does so by subtracting the expenses incurred from the revenue realized. These two categories are therefore the most basic items in the income statement and will always appear in them.

Examples of Revenue sources include; Sales and Service Revenues.

Examples of Expenses include; Advertising, Salaries and Depreciation.

You might be interested in
If many firms enter the computer software industry and consequently bid up the price of programmers, then:
Lena [83]

Answer:

the correct option is C) If many firms enter the computer software industry and consequently bid up the price of programmers, then: the long-run industry supply curve will slope downward.

Explanation:

When many firm enter an industry, there is competition and the presence of multiple players will eventually cause the cost of production to decline.

In the short run,  if many firms enter the computer software industry and consequently bid up the price of programmers, then the increase in participation will increase the number of software developed.

In the long run, industry supply curve will slop downwards indicating a price reduction.

4 0
4 years ago
a. Business receives $3,000 on January 1 for 10-month service contract for the period January 1 through October 31. (When the ca
stiks02 [169]

<u>Solution:</u>

Deffered revenue means when an organization receives the payment prior to the goods delivered to conusmer. In the given case, business receives $3000 on 1, January for ten month service (From january to October).

<u>The revenue per month needs to be calculated:</u>

Revenue per month = Revenue for ten months divided by Total number of months

By putting the figures we get,

Revenue per month = $3000 divided by 10 = $300 per month

An adjusting entry needs to be passed:        

Date             Particulars                                debit                  credit  

31st jan        Unearned Revenue                 $300

                       Service Revenue                                              $300

( Service revenue that has been collected in advance)                      

7 0
4 years ago
Eleni's landscaping company placed two orders. *The first order was for 13 bushes and 4 trees and totaled $487. *The second orde
Maksim231197 [3]

Answer:

Price of One Bush is $ 23

Explanation:

Suppose

bushes = B

trees = T

According to given condition:

13B + 4T = 487 (Eq: 1)

6B + 2T = 232 (Eq: 2)

Multiplying (Eq: 2) by 2

12B + 4T = 464 (Eq: 3)

Substractign (Eq: 3) from (Eq: 1)

13B + 4T - (12B + 4T) = 487 - 464

13B + 4T - 12B - 4T = 23

B = 23

By putting value of B in (Eq: 1)

(13 x 23) + 4T = 487

299 + 4T = 487

4T = 487 - 299

4T = 188

T = 188 / 4

T = 47

Price of One Bush = B = 23

5 0
3 years ago
A group of 2-year-old infants are selected for a special program because their iq scores are very low. five years later, most of
Gennadij [26K]
The special program that they have conducted to the infants worked. The experiment was a success. And because of this, they could conduct more, special programs and even in a larger amount of infants they can conduct this. This special program is really beneficial to each and every one of them.
3 0
3 years ago
Should students have more P.E time?
Brut [27]
I feel like we should but your teachers want more education time at my school we have 40 minutes of P.E 
4 0
4 years ago
Read 2 more answers
Other questions:
  • Domebo Corporation has entered into a 7 year lease for a piece of equipment. The annual payment under the lease will be $3,000,
    6·1 answer
  • The rate of return on the common stock of Flowers by Flo is expected to be 14 percent in a boom economy, 8 percent in a normal e
    13·1 answer
  • A method for selecting multiple lines of text is to _______.
    14·1 answer
  • In the product imitator strategy, the order winner is _______ for the customer; whereas, in the product innovator strategy, the
    7·1 answer
  • "A new machine, with a 4-year life, has an initial cost of $1,200 and annual costs of $380. The equivalent annual cost of this m
    10·1 answer
  • Armstrong is a well-known producer and seller of rose bushes. The company's marketing manager is interested in knowing what gard
    13·1 answer
  • When a business is worth more if its assets are sold than if it continues to operate, then the business is liquidated, and the p
    9·1 answer
  • What is SEO?
    15·1 answer
  • For a sales presentation, Pedro decides to use an informal tone that makes use of tasteful humor. What step of the problem-solvi
    7·1 answer
  • At the end of January of the current year, the records of NewRidge Company showed the following for a particular item that sold
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!