1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
timofeeve [1]
3 years ago
6

Following are selected accounts for Target Corporation. (a) Indicate whether each account appears on the balance sheet (B) or in

come statement (I). ($ millions)AmountClassification Sales$61,471Answer I Accumulated depreciation7,887Answer B Retained earnings12,761Answer B Depreciation expense1,659Answer I Net income2,849Answer I Property, plant
Business
1 answer:
velikii [3]3 years ago
6 0

Answer:

Target Corporation

Accounts that appear on the balance or the income statement:

Balance Sheet:

Accumulated depreciation 7,887

Retained earnings 12,761

Property, plant

Income Statement:

Sales $61,471

Depreciation expense 1,659

Net income 2,849

Explanation:

The accounts that appear on the balance sheet of Target Corporation are permanent accounts, which are not closed to the income summary at the end of its financial period.  These accounts are carried over to the next accounting period.  They include assets, liabilities, and owners' equity.  The accounts that appear on the income statement of Target Corporation are the temporary accounts, which are closed to the income summary at the end of the company's financial period.  The accounts include revenue and expenses, which are compared to extract the net income or loss for the period.

You might be interested in
Which of the following statements regarding SPT and WSPT is INCORRECT?
Alex Ar [27]

Answer:

D

Explanation:

WSPT assigns the highest priority to the job with the LOWEST weight/processing time ratio.

4 0
3 years ago
Financial Statements, Closing Entries & Ratio Analysis
KATRIN_1 [288]

Answer: im not sure don't use my answer.

Explanation: CAHS CASH CASH

5 0
2 years ago
Read 2 more answers
Mariah Company has inventory at the end of the year with a historical cost of $ 91 comma 000. Mariah Company uses the perpetual
Marina86 [1]

Answer:

Dr. Inventory Write down............(91,000 - 71,600)....$19,400

Cr. Inventory.......................................................................................$19,400

Explanation:

The write down of the inventory value from at the end of the year with a historical cost of $ 91,000 to the current replacement cost is $ 71,600 will be recorded as follows:

<u>Journal Entries</u>

Dr. Inventory Write down............(91,000 - 71,600)....$19,400

Cr. Inventory.......................................................................................$19,400

<u>Being the write down of the value of inventory from historical cost to replacement cost at year end</u>

5 0
3 years ago
Which of the following is an economic change that can affect careers?
ArbitrLikvidat [17]

c) a big recording company buys a small independent label

It is typical in capitalistic economies for larger companies to buy out their competition, absorbing smaller companies. This kind of economic change can result in large changes in management for the smaller companies because the company that now owns them may hire or fire people based on what they feel best meets the needs of the newly acquired company.

7 0
3 years ago
You are the CFO of a US firm whose wholly owned subsidiary in Mexico manufactures component parts for your U.S. assembly operati
PSYCHO15rus [73]

Answer:

Explanation:

When the Peso depreciates by 30%, the firm can save money on the costs of production as the inputs would be less costly but the market for the firm in Mexico would be affected negatively as the depreciation of the peso would mean that now, the consumer can buy more goods with the same amount of money which will increase the demand. The loans that the subsidiary has taken would also be affected as it has to pay more for the collateral.

If the company reduces the inventory and stock the foreign receivables before the depreciation occurs to minimize the loss. Before the depreciation happens, the firm can convert the pesos denomination to the dollar so that its value doesn't fall.

8 0
3 years ago
Other questions:
  • Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per pound $ 7.50 Direct labor 5 hours at $7.50
    12·1 answer
  • “Choosing is Refusing” means individuals face an opportunity cost with each decision they make. Explain this further.
    12·1 answer
  • Suppose you start saving for retirement by depositing $4,000 every year into your retirement account. If your annual return is 8
    8·1 answer
  • An outside broker locates a seller for a buyer representative's client. In this instance, the outside broker is acting as
    11·1 answer
  • The Devon Motor Company produces automobiles. On April 1st the company had no beginning inventories and it purchased 8,000 batte
    5·1 answer
  • The Coffee Collective is seeking to identify customers who want a unique coffee-drinking experience and are open to a loyalty re
    14·1 answer
  • Which document is necessary for nearly everyone who applies for a job
    11·1 answer
  • "if Washburn achieves the sales target of 2,000 units at the $349 retail price, what will its profit be?"
    9·1 answer
  • What is private equity investing? Who participates in it and why? How is Palamon positioned in the industry? How does private eq
    8·1 answer
  • How do Basketball Players brand their "name" and market themselves in TV Commercials ?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!