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3 years ago

Creating a budget is about your wishes and hopes for what you want your income to be.

Business

1 answer:

PIT_PIT [208]3 years ago

7 0

Answer:

False.

Explanation:

Creating a budget is not about your wishes and hopes for what you want your income to be, but must be done by having a realistic perception of the income and expenses that each person has from month to month. In this way, you can project responsibly, avoiding incurring debts or other negative consequences.

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Presented below is information related to Splish Company at December 31, 2020, the end of its first year of operations.

elena-s [515]

Answer:

a. $131,880

b. $167,310

c. $156,050

d. $151,390

Explanation:

(a) Income from operations

Income from Operations is Income resulting from Primary Trading Activities of the Company.

Income from Operations = Gross Profit + Operating Income - Operating Expenses

where,

Gross Profit = Sales - Cost of Goods Sold

= $334,910 - $149,030

= $185,880

thus,

Income from Operations = $185,880 - $54,000 = $131,880

(b) Net income

Income resulting from Primary and Secondary Trading Activities of the the Company.

Net income = Income from Operations + Non Operating Income - Non Operating Expenses

= $131,880 + $32,710 + $9,080 - $6,360

= $167,310

Income from both Continuing and Non - Continuing Activities.

Comprehensive income = Net income + Non - Continuing Activities

= $167,310 - $11,260

= $156,050

(d) Retained earnings balance at December 31, 2020

The Income remaining after distributions to shareholders have been made.

Retained earnings = Comprehensive income - Dividends

= $156,050 - $4,660

= $151,390

8 0

3 years ago

Which component within a corporation elects the board of directors?

dmitriy555 [2]

Answer:

A. shareholders

Explanation:

i took the quiz sorry i did not do it sooner

3 0

2 years ago

Country x would have an absolute advantage over country y in the production of automobiles under what conditions?

Paul [167]

Under the condition that country X can manufacture cars more cheaply. An absolute advantage devours in a country if it makes good over alternative country and uses a smaller amount of wealth to yield that good. The result of a country’s natural legacy is the absolute advantage. Another example is extracting oil in Saudi Arabia is pretty much just a matter of drilling a hole. Generating oil in other countries can is essential substantial exploration and costly technologies for drilling and extraction if certainly they have any oil at all. The United States devours about the richest farmland in the world which manufacture it at ease to grow corn and wheat than in many other countries. Guatemala and Colombia partake environment particularly suitable for growing coffee. Chile and Zambia have about of the world’s richest copper mines. As some have claimed that geography is destiny. Chile will bargain copper and Guatemala will harvest coffee and they will trade. When each country has a product others necessity and it can be manufactured with fewer resources in one country over another then it is easy to visualize all parties do good from trade. Thinking about trade just in relations of geography and absolute advantage is incomplete. Trade actually happens because of comparative advantage.

4 0

2 years ago

Read 2 more answers

Consumer demand for personal computers or smart devices ultimately determines the demand for the parts and materials involved in

Aliun [14]

Answer:

The correct answer is c. Derived demand .

Explanation:

Derived demand is the demand for goods and services that is generated as a result of the demand for other goods and services. This type of demand usually corresponds to the demand for factors or products, since the demand for a good or service may be related to the process necessary to produce another good or service, although it can affect both producers and consumers.

Derived demand can sometimes lead to an increase in the price of a marginal product, since the demand for the resources needed to produce a physical product also increases.

8 0

2 years ago

Public saving is negative when:A. there is a government budget surplus.B. there is a government budget deficit.C. the government

m_a_m_a [10]

Answer: Option (B) is correct.

Explanation:

Public saving refers to the tax revenue amount that a government left with after paying for its expenditure or spending.

Public saving = Tax revenue - Spending

Private saving refers to the after tax income of the individuals after paying for their consumption and taxes.

Suppose there is a government budget deficit, in this situation government's expenditure is greater than government's receipts. This means that tax revenue is not enough to pay out its expenditure.

Therefore, this will lead to negative public savings.

3 0

2 years ago