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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.

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zmey [24]

If Larry's Lariats produces 25,000 lassos and sells each for $10, then the company's total revenue is $250,000.

What is total revenue?
Revenue
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3 0
1 year ago
In a retail cash sales environment, which of the following controls is often absent?
JulijaS [17]

Answer:

The correct answer to the following question is option b) Separation of functions.

Explanation:

In a retail environment , the cash management process starts when a customer pays the cashier for the product or services he or she has purchased. The cashier then counts the cash in till drawer and then at end of the day cashier takes that cash to the third party who can be either manager or owner or a supervisor. Then cashier would receive a receipt against the cash for till drawer.

Now supervisor would collect cash from all the cashier and prepare the cash to be deposited in bank. So from this process it is quite clear that here there is separation of functions here and while all other options given in the question are present in the process.

6 0
3 years ago
Jazz Corporation owns 50% of the Williams Corp. Stock. Williams distributed a $10,000 dividend to Jazz Corporation. Jazz Corp.'s
Elden [556K]

Answer:

$6,500

Explanation:

Calculation for the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp

Based on the information given we were told that the Jazz's Corporation owns part of Williams Corp. stock which is 50% in which Williams Corp. stock distributed the amount of $10,000 dividend to Jazz Corporation which means that Jazz Corporation share in Williams stock is higher than 20% and as well lower than 80% based on this Jazz Corp.'s will be entitled to dividend received deduction of 65% calculated as:

Dividends received deduction =$10,000 × 65%

Dividends received deduction=$6,500

Therefore the amount of Jazz's dividends received deduction on the dividend it received from Williams Corp will be $6,500

7 0
3 years ago
Rs.4000 becomes Rs.8000 in 10 years .What is the rate of interest ?​
kaheart [24]

Answer:

7.2%

Explanation:

\sqrt[10]{2}  = 1.072

3 0
3 years ago
Identify and explain 2 reasons why a business such as AEC could not be successful without other firms providing natural resource
julia-pushkina [17]

Answer:

AEC needs rubber to make its seals too. Oil is needed to produce rubber and, like coal and iron ore, oil is a natural resource. Without oil, AEC would have no rubber for seals. Natural resources are declining over time + coal reserves, especially, are running out.

4 0
3 years ago
Read 2 more answers
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