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2 years ago

Which of the following is not one of the four basic financial statements?

Business

1 answer:

TEA [102]2 years ago

5 0

Answer:

A revenue statement is not a basic financial statement.

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How can the government use fiscal policy to promote full employment?

Rina8888 [55]

The answer is B.....

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3 years ago

What year was the transistor invented and by what company?.

sveticcg [70]

Answer:

The transistor was invented on June 30th 1948 by Bell telephone laboratories

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2 years ago

According to _____________, as an entity separate and distinct from its owners, the corporation acts under its own name rather t

mario62 [17]

Answer:

According to _____________, as an entity separate and distinct from its owners, the corporation acts under its own name rather than in the name of its stockholders.

C) Separate legal existence

Explanation:

This separate legal existence means that before the law, a corporation is a distinct person, just like every other person, with rights and obligations. It can enter into binding contracts. It can perform business activities within the ambits of the law. It has its own name and personality that is not intertwined with those of the owners or stockholders. It enjoys a continuous lifespan that can only be liquidated under the laws.

3 0

3 years ago

The following information was available from the inventory records of Sheffield Corp. for January: Units Unit Cost Total Cost Ba

Ganezh [65]

Answer:

$45,990

Explanation:

The Weighted Average Cost Method, calculates a new Unit Cost with every purchase that is made. This is applicable to perpetual Inventory method. In this case we are required to use the periodic Inventory method (Sheffield does not maintain perpetual inventory records). Thus our Unit Cost is calculated from Inventory available for Sale.

Step 1

Units Available For Sales Calculation :

Opening Balance 9,200

Add Purchases (6,400 + 7,900) 14,300

Units Available for Sale 23,500

Less Units Sold (7700 + 11300) (19,000)

Ending Inventory Units 4,500

Step 2

Unit Cost = Total Cost ÷ Units Available for Sale

= ($89,516 + $65,984 + $84,609) ÷ 23,500

= $10.22

Step 3

Ending Inventory = Units in Stock × Unit Cost

= 4,500 × $10.22

= $45,990

8 0

3 years ago

United Apparel has the following balances in its stockholders’ equity accounts on December 31, 2018: Treasury Stock, $650,000; C

ahrayia [7]

Answer:

United Apparel Balance sheet as of December 31, 2018

Stockholders’ Equity section

Common Stock Capital ............................................$400,000

Preferred Stock Capital.............................................$1,600,000

Additional Paid-in Capital..........................................$6,800,000

Total Paid-in Capital....................................................$8,800,000‬

Retained Earnings.......................................................$1,200,000

Less: Treasury Stock...................................................($650,000)

Total Stockholders Equity..........................................$9,350,000

4 0

3 years ago