The credit balance in cash short and over at the end of an accounting period is reported as an expense on the income statement.
Income is the consumption and savings opportunity that a business captures within a specific time frame, usually expressed in money. Income is difficult to define conceptually and definitions vary by region.
The definition of income is the amount of money received by an individual, group or business during a specified period. An example income is an annual salary of $70,000.
Income is money received by an individual or business in return for providing work, producing goods or services, or investing capital. While individuals usually earn their income through wages or salaries, businesses generate income from the sale of goods or services that exceed their production costs.
Learn more about income here:brainly.com/question/25745683
#SPJ4
Answer:
a
Explanation:
this is due to the initial uptake for the product . it levels to repeat customers but others drop off the sales due to other reasons
Answer:
The Elston's stockholders' equity on December 31, 2014 is $550,000
Explanation:
For computing the stockholder equity, first, we have to find out the ending retained earning balance which equals to
= Beginning retained earning balance + Net income - dividend paid
= $375,000 + $75,000 - $50,000
= $400,000
where,
Net income = Service revenue - operating expenses
= $700,000 - $625,000
= $75,000
Now the stockholder equity equals to
= Common stock + ending balance of retained earning
= $150,000 + $400,000
= $550,000
You just need to find time for both.
