Answer:
$42,000
Explanation:
The computation of the loss to be reported is shown below:
As there are finance charge of 3% and retains 5% so the total percentage of loss is 8%
And, the carrying amount os $700,000
So, the loss i.e. to be reported is
= Carrying amount × total percentage of loss
= $700,000 × 8%
= $42,000
hence, the loss is $42,000
The idea that many media products are digital files of ones and zeros sold in physical containers, is known as: atoms to bits
Answer:
Explanation:
As we know that time interest earned ratio = Income before interest and taxes / interest expense.
Sales = 546000
less: cost of goods sold = (<u>244410</u>)
Gross profit 301590
Less: <u>expenses</u>
Depreciation expense =( <u>61900 </u>)
Profit before interest and taxes 239690
Less: tax
(239690 * 23%) = (<u>55128</u>)
Profit 184562
Profit - Retained earning Addition = Interest
184562 - 74300 = 110262.
Interest earned ratio = 239690 / 110262 = 2.17 times
Explanation:
For enjoying and enjoying the time of your life
Answer:
A. Cash, Salaries Payable, and Retained Earnings.
Explanation:
Trial balance: It is prepared by company at the end of accounting year to compile all the ledger entries in debit and credit column to check accuracy of the entries.
Post trial balance: It is created to ensure sum of debit and credit entries will be equal to zero.
All the real account appear on post closing trial balance and the nominal accounts or any other account are cleared by the closing entries of trial balance.
Real accounts are:
- Cash.
- Account receivable.
- Fixed assets.
- Retained earning.
- Account Payable.
