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3 years ago

Is income debit or credit

Business

2 answers:

Vanyuwa [196]3 years ago

5 0

Answer:

income is credit thats the amswer

lukranit [14]3 years ago

3 0

Explanation:

credit im pretty sure and debit is when you're taking away I believe

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As of December 31, 2017, Armani Company’s financial records show the following items and amounts. Cash $ 10,000 Accounts receiva

Lelechka [254]

Answer:

December 31, 2017 Balance Sheet

$10,000 Cash

$9,000 Accounts Receivable

$6,000 Supplies

$25,000 TOTAL CURRENT ASSETS

$5,000 Equipment

$5,000 TOTAL NONCURRENT ASSETS

$30,000 TOTAL ASSETS

$23,000 Accounts Payable

$23,000 TOTAL CURRENT LIABILITIES

$23,000 TOTAL LIABILITIES

$1,000 Retained Earnings

$6,000 Capital

$7,000 TOTAL EQUITY

$30,000 TOTAL EQUITY + LIABILITIES

Explanation:

December 31, 2017 Balance Sheet

$10,000 Cash

$9,000 Accounts Receivable

$6,000 Supplies

$25,000 TOTAL CURRENT ASSETS

$5,000 Equipment

$5,000 TOTAL NONCURRENT ASSETS

$30,000 TOTAL ASSETS

$23,000 Accounts Payable

$23,000 TOTAL CURRENT LIABILITIES

$23,000 TOTAL LIABILITIES

$1,000 Retained Earnings

$6,000 Capital

$7,000 TOTAL EQUITY

$30,000 TOTAL EQUITY + LIABILITIES

Income Statement

Consulting Revenue $33,000

Rental Revenue $22,000

Salaries Expenses -$20,000

Rent Expenses -$12,000

Selling and Adm Exp -$8,000

Income Statement $15,000

Retained Earnings Report

Opening retained earnings $ 0,000

Add: Net Income $ 15,000

Subtotal $ 15,000

Less: Withdrawals -$ 13,000

Less: Investment -$ 1,000

Total $ 1,000

8 0

3 years ago

What do you think of the decision made by Adelaide Ladywell?

Neporo4naja [7]

Answer:

Incomplete question. Here's likely the complete question;

In this, the first case, Lee High, the newly hired cost accountant, computes the variable cost and the fixed cost per unit at a volume of 500 units of Great Heath per week. He uses this information to develop some guidelines for pricing. His boss, Charlton Blackheath, endorses the guidelines and adds a feature: a higher commission on sales at a higher price.

When both High and Blackheath are away, the file clerk, Adelaide Ladywell, accepts an order below the guidelines and is fired...Evaluate the decision made by Adelaide.

<u>Explanation:</u>

Although Adelaide Ladywell acted presumptuously (without permission), her decision was still profitable. By looking at the costs per unit presented, the product's selling price wasn't lower than the fixed costs, therefore her actions were not a totally bad one.

3 0

3 years ago

All of the following are potential benefits of innovation EXCEPT: Group of answer choices improved quality (attributes) of exist

Sav [38]

The potential benefit of innovation is the improved quality (attributes) of existing products. The correct option is A.

<h3>What is innovation?</h3>

Innovation is introducing new things and ideas.

The advantages of innovation are:

High relative advantage
Trialability
observability
Compatibility
Low complexity

Thus, the correct option is A, improved quality (attributes) of existing products.

Learn more about innovation

brainly.com/question/16054260

#SPJ1

5 0

2 years ago

Preston Corp. is estimating its WACC. Its target capital structure is 20 percent debt, 20 percent preferred stock, and 60 percen

Alchen [17]

Answer:

Follows are the solution to this question:

Explanation:

$\text{Equity expense = free risk rate+beta} \times \text{market risk premium}$

$=3 \% + 1.2 \times 5 \% \\\\= 0.03 + 1.2 \times 0.05 \\\\= 0.03 +0.06 \\\\= 0.09\\\\=9 \%$

$\text{Preferred inventory cost} = \frac{\text{annual dividend}}{( price - floation \ rate)}$

$= \frac{(100 \times 5.46 \%)}{(100-100 \times 5 \%)}\\\\=5.75 \%$

$\text{Excel feature = RATE(nper, PMT, PV, FV)}$

$=(RATE( \frac{20 \times 2,1000 \times 12 \%}{2,-1100,1000})) \times 2 \\\\=10.77 \%$

$\text{Debt expense after tax}= 10.77 \% \times (1-40 \%)$

WACC from Preston = Capital weight $\times$ Capital equity costs+cost of common stock $\times$ cost of common shares $\times$ debt cost $\times$ (1-tax rate)

$=60 \% \times 9 \%+20 \% \times 5.75 \%+20 \% \times 6.46 \% \\\\=7.84 \%$

5 0

3 years ago

Cedar Designs Company, a custom cabinet manufacturing company, is setting standard costs for one of its products. The main mat

Snowcat [4.5K]

Answer:

Standard direct labour cost = $20.00 per hour

Explanation:

The direct labour costs represent expenditures incurred in respect of direct worker which can be traced to the product been produced. For example, the labour cost of machine operator saddled with production task.

The payroll cost is not a direct labour cost because payroll employed are not direct workers, also benefits are overheads related to direct workers

Standard direct labour cost = $20.00

5 0

3 years ago