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soldier1979 [14.2K]
3 years ago
14

The amount of money remaining after deductions are taken out best describes which term?

Business
1 answer:
telo118 [61]3 years ago
4 0
The answer to this question is the term net income. A net income is the remaining money after deductions or expenses have been taken from the gross income. Net income is also known as net profit. Net income also states and calculates the total revenue that exceeds after all operational expenses and taxes been deducted.
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Vaughn Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2
vlabodo [156]

Answer:

Anderson Co. 3,100 shares at $18 per share

Munter Ltd. 10,200 shares at $57 per share

King Co. 5,600 preferred stock at $42 per stock

a. Prepare the entry for the security sale on January 15, 2021.

  • Dr Cash 58,880
  •     Cr Investment in Anderson Co. stock AFS 52,200
  •     Cr Realized gain on stock AFS 6,680

b. Prepare the journal entry to record the security purchase on April 17, 2021.

  • Dr Investment in Castle's stock AFS 38,160
  •     Cr Cash 38,160

c. Compute the unrealized gains or losses.

  • unrealized gain = $40,800 (gain in Munter) - $11,200 (loss in King) - $13,960 (loss in Castle) = $15,640

d. Prepare the adjusting entry for Vaughn on December 31, 2021.

  • Dr Investment in Munter's stock 40,800
  •     Cr Investment in King's stock 11,200
  •     Cr Investment in Castle's stock 13,960
  •     Cr Unrealized gain - other comprehensive income 15,640

 

4 0
2 years ago
15 points!
nordsb [41]

Answer:

rent

Explanation:

The rent expense will be difficult to revise. Usually, the rent amount is contained in a tenancy agreement signed by both the landlord and the tenant. The rent amount does not change until the lease or tenancy agreement expires. Changing the rent amount would require the landlord's consent.

Due to the above reasons, rent is classified as a fixed cost. It remains constant in the short run.

5 0
2 years ago
Read 2 more answers
A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resu
kherson [118]

Answer:

b.$60,000 outflow.

Explanation:

Cash flows from financing activities

Retiring value of bonds for cash    -$60,000

Cash flow from financing activities -$60,000

Since the cash flow statement records only cash transactions. So in the given case, the bonds are retired for $60,000 in cash that reflects the cash outflow and the same is to be presented on the financial statements

3 0
3 years ago
a. Describe how the payback period is calculated and describe the information this measure provides about a sequence of cash flo
saw5 [17]

Answer:

While taking a capital budgeting decision of source of fund, or the capital project to be chosen, we sometimes use Payback Period

It is defined as the tenure in which the cash flows will realize the cost of project, that is the period in which the entire cost will be paid back.

This provides the information regarding the time after which the project will be profitable, or the time at which it will reach break even.

The payback uses the criteria that if the payback period calculated is less than life of project it shall be accepted, in case it is equal to life of project then  there will be no profit no loss, and in case payback is higher than life of project then there will be loss.  

7 0
3 years ago
after an earthquake, additional adjustments can occur along the fault. these adjustments can cause damaging viberations called
fiasKO [112]
After shocks are what are called





6 0
3 years ago
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