SG&A is an initialism used in accounting to refer to Selling, General and Administrative Expenses, which is a major non-production cost presented in an income statement.
Indirect costs are costs that are not directly accountable to a cost object. Indirect costs may be either fixed or variable. Indirect costs include administration, personnel and security costs. These are those costs which are not directly related to production. Some indirect costs may be overhead.
The amount of net income reported on Sparty's income statement is $19,690.
<h3>
What is revenue?</h3>
- The total amount of income earned by the sale of goods and services connected to the principal operations of the firm is referred to as revenue in accounting.
- Commercial revenue is often known as sales or turnover.
- Some businesses make money by charging interest, royalties, or other fees.
<h3>What are dividends?</h3>
- A dividend is a profit distribution made by a corporation to its shareholders.
- When a corporation makes a profit or has a surplus, it can pay a portion of the earnings to shareholders as a dividend.
- Any money that is not dispersed is re-invested in the company.
<h3>Solution -</h3>
To find the amount of net income reported on Sparty's income statement, use the following formula:
Net Income = Gross Profit — Operating Expenses — Other Business Expenses — Taxes — Interest on Debt + Other Income
Net income = 80000 - 31000 - 11000 - 18130 = 19690
Therefore, the amount of net income reported on Sparty's income statement is $19,690.
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Answer: C.
Explanations: Many companies go by that standard although they don't necessarily mean it. They are very much aware of how much a customer is important to the company. They should be aware of all the staff and how they are treating the customers, the quality of a product and generally give their best to please someone when they come inside their store.
However there should be certain precautionary measures taken if they encounter with a customer that, beside all the kindness you were offering, is rude, frantic, starts damaging the goods, ambience etc.
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Answer:
$120,000
Explanation:
NFAI = Change in net fixed assets + Depreciation
= $300,000 + $204,000
= $504,000
NCAI = Change in current assets - Change in accounts payable
= $146,000 - $73,000
= $73,000
OCF = $697,000
FCF = OCF - NFAI - NCAI
= $697,000 - $504,000 - $73,000
= $120,000
