Answer:
Revolutionary Industries
Income Statement
For the year ended December 31, 2021
...
Pre-tax Income from continuing operations $14,000,000
Income taxes <u>($3,500,000)</u>
Income from continuing operations $10,500,000
Discontinued operations:
- Gain from sale of disc. component $4,000,000
- Income from disc. component $6,000,000
- Income taxes ($2,500,000) <u>$7,500,000</u>
Net income $18,000,000
Answer:
When you are preparing the cash flow statement, some adjustments are made that actually increase the cash flow even if the net income has decreased, for e.g.:
- lower accounts receivables
- lower inventories
- higher depreciation and amortization expenses
- higher accounts payables and accruals
- sale of investments
- new long term debt
- less dividends distributed
- new capital raised
Answer:
I believe your answer would be D, a deadly factory fire.
Hope this helped!
Answer:
31 March 2021
Explanation:
The contract should be recorded on 31 March 2021 because according to the US Generally Accepted Accounting Principles, revenue should be recognize in the book only when service has been rendered to the customer, the selling price of product is fixed and confirmation of service arrangement and amount to be collected.
With regards to the above scenario, since the equipment was not delivered until 31 March, then 31 of March will be recognized.
Answer:
The correct answer to the following question is option D) the vertical distance between ATC ( Average total cost ) and AVC ( Average variable cost ) .
Explanation:
AFC which is know as average fixed cost , can be taken out by dividing the total fixed cost from the total number of units produced. In the earlier phase , for the given number of units produced, both AVC and AFC curve would decrease, which would ultimately lead to fall in ATC. But when the units increase , the AVC would start to rise but AFC is still falling and due to this ATC would sill fall , because fall in AFC is still greater than rise in AVC . As output further rises , the AVC would keep on rising and would finally offset fall in AFC and ATC would also start rising. Therefore AFC would be determined by vertical distance between ATC and AVC.
