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andreev551 [17]
3 years ago
5

A business will construct its financial statements in a particular order because they are interrelated. This means that items fo

rmulated in an earlier statement feed into the subsequent statements, and changes to items on one financial statement can have compounding effects on the overall financial position of a company. Which of the following is one reason the statement of owner's equity is prepared after the income statement?
a. Retained earnings are computed on the income statement.
b. Net income is the beginning retained earnings amount.
c. Retained earnings is really an asset.
d. Net income is part of the computation for ending retained earnings.
Business
1 answer:
Blizzard [7]3 years ago
7 0

Answer: d. Net income is part of the computation for ending retained earnings.

Explanation:

In the statement of owner's equity, Retained earnings are calculated and it is done with the Net Income. This is why when the net income is calculated from the Income Statement it is transfered to the SOE and used to calculate Retained Earnings.

Retained Earnings are calculated by the formula,

Ending Retained = Opening Retained Earnings + Net Income (losses) - Dividends

Net income is added to (or subtracted from if it is a Net loss) the Opening Retained earnings balance. Net dividends are also subtracted.

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Based on the information given the gift tax in 2019 is $0.

Gift tax are tax that is imposed by the federal government on taxpayer for giving out gift.

The gift tax for 2019 is $15,000 annually which means that any taxpayer that gift someone else gift either as cash or property that is not above $15,000 will not be taxed or will not incurred any gift tax.

On the other hand any taxpayer that give out gift that is above $15,000 will  be taxed which means that the giver will have to file a tax return reason being that the gift is above the recommend yearly gift tax exclusion amount of $15,000.

Based on the given scenario the amount Joshua gave his son which is $13,400 is not above the yearly gift tax of $15,000 which means that Joshua will not  file a gift tax return.

Inconclusion the gift tax in 2019 is $0.

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7 0
3 years ago
The common denominator for decisions on service processes is _______, but for manufacturing processes it is _______
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The common denominator for decisions on service processes is customer contact while but for manufacturing processes, it is product variety.

<h3>What is a common denominator?</h3>

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5 0
2 years ago
When a government seizes an investment of a foreign investor but some reimbursement for the assets is made, the government follo
Sladkaya [172]

Answer:

(B)  expropriation.

Explanation:

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It is the seizure of private property by an open organization for a reason regarded to be in the open intrigue

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3 years ago
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C I think is the answer look it up
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Before the annual “Blue versus Red” football game, Sara bet on the blue team who later lost. After the game, she claimed she knew the blue team would lose. This illustrates hindsight bias which is also known as knew it all long effector tiptoeing determinism. It is the disposition after an event has occurred, to see the event as having been expectable in spite of there having been little or no objective basis for forecasting it. It is multifaceted phenomenon that can affect can cause exciting methodological problems while trying to analyze, understand and interpret results in investigational studies. In Additional, one example of the hindsight bias is when after viewing the outcome of a potentially unforeseeable event a person believe he or she “knew it all along.”
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