Answer:
increase expenses and decrease net income
Explanation:
Research and development costs must be treated as normal operating expenses and they must be included in the income statement. They are treated similarly to other operating expenses.
US GAAP requires R&D to be treated as expenses simply because the future value of R&D is very hard to determine, so they cannot be capitalized (and amortized).
Answer:
Debit Interest Expense, credit Cash and Discount on Bonds Payable.
Explanation:
The journal entry that a company needs to record for payment of interest is: a debit to the interest receivable account and a credit to the interest income account.
The journal entry that a company needs to record for interest expense is: a debit to interest expense and a credit to cash.
The journal entry that a company needs to record for interest expense is: a debit to interest expense and a credit to discount on bonds payable.
Yes, he does in fact he is set up for the rest of his life
Answer:
Clarkston Motorsports
Income statement Year ended November 30,2016
$ $
Net Sales Revenue 863,000
Cost of Goods Sold (510,000
)
Gross Profit 353,000
Selling Expenses
Selling expenses 125,000
Administrative Expenses
General expenses 134,000
Income Tax Expense 70,000
Income From Continuing Expense (329,000)
Net Income 24,000
Earnings Per Share (Continuing Operations) $1.14
Earnings Per Share (Discontinued Operations) $0.10
Explanation:
Continuing Operations
<em>Earnings Per Share = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stocks Outstanding</em>
= $ 24,000 ÷ 21,000
= $1.14
Discontinued Operations
<em>Earnings Per Share = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stocks Outstanding</em>
= $ 2,000 ÷ 21,000
= $0.10
Answer:
The Non-profit Television Bureau for Advertising
Explanation: