Answer:
Multiple-step income statement for the year ending December 31, year 1
Sales $275,200
Cost of Goods Sold <u>($185,000)</u>
Gross Profit $90,200
Operating Expenses:
Administrative Expense ($35,000)
Selling expenses <u>($55,000)</u>
General Expense <u>($45,000)</u>
Operating Income ($44,800)
Non-Operating Revenue <u>$105,000</u>
Operating Income before tax $60,200
Income taxes <u>($25,000)</u>
Operating Income after Tax <u>$35,200</u>
Explanation:
Multi-step Income statement segregate the Operating Income and Expenses from non operating Income and Expense. It shows the gross profit and net operating income separately.
Answer:
Daniel’s team had to decide the vendor on the following attributes that should be analyzed:
- Innovation :- Credit Issue Group is a money related assistance organization and henceforth the seller needs to have a decent mechanical base to furnish with organization with required administrations on schedule and best in quality.
- Exclusivity: Considering the significance of the administrations, organization may take a gander at the restrictiveness of the administrations that merchant can offer to Credit Issue.
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Complimentary Services offering:- To look if seller has some other contributions to make to the customer that might be complimentary with the fundamental administrations advertised. This can save money on schedule and authoritative work.
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Support:- What support would vendor be able to offer to the organization alongside giving the essential administrations.
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Contingency:- in case of seller's framework disappointment, what back up merchant needs to proceed with uninterrupted administrations.
Answer and Explanation:
The answer is attached below
<span>Heidi should inform them that form 13614-C has to be completed before the return can be prepared, the client will then be interviewed by whomever is preparing the return and additional questions would likely be asked, and the client would need to have a quality review done on their taxes by someone other than the person preparing the return.</span>
Answer:
it does not measure quality-of-life factors ; it does not account for distribution of wealth ; it fails to measure non monetary (home production) activities
Explanation:
Real GDP is the total value of goods & services produced in an economy, during a period of time. But it is not correct measure of welfare level.
- It does not measure non monetary production, like hobby production eg kitchen gardening, self made paintings, music. But, they increase welfare
- It does not take into consideration the qualitative factors affecting welfare like pollution, crime & literacy. Externalities cause extra benefit or harm to welfare level, but are excluded from GDP.
- Inequitable distribution of per capita (average) GDP increases rich poor standard of living divide. So, the distribution effect ignored make GDP an inapt measure of average welfare level.
Real GDP adjusts the value of goods & services for price change (Inflation), it is a correct measure of increase in real flow of goods & services. GDP & health positive correlation is a favouring point for GDP as a measure of welfare. So, these options are incorrect.
