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3 years ago

What is profit and loss account

Business

2 answers:

Leni [432]3 years ago

8 0

Answer:

Explanation:

Profit and loss is not an account. It is calculated by taking the difference between the revenues minus the expenses of a business. If there are more revenues than expenses, the difference is positive or a Profit. If there are more expenses than revenues, the difference is a negative or a Loss.

vitfil [10]3 years ago

5 0

La cuenta de pérdidas y ganancias (P&G) es un estado financiero que resume los ingresos, los costos y los gastos incurridos durante un período específico, generalmente un trimestre o año fiscal. La cuenta de pérdidas y ganancias es sinónimo de la cuenta de resultados. Estos registros proporcionan información sobre la capacidad o incapacidad de una empresa para generar beneficios mediante el aumento de los ingresos, la reducción de los costos o ambos. Algunos se refieren al estado de ganancias y pérdidas como un estado de ganancias y pérdidas, estado de resultados, estado de operaciones, estado de resultados financieros o ingresos, estado de ganancias o estado de gastos

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Kelvie Inc. is a manufacturing company and held the following investments during 2012. Show how each investment would impact/cha

Lynna [10]

Answer:

Explanation:

Investments Impact in Type of activity

financial statement

1 Purchase of Mao &Co's Increase the investments Investing

bond of $ 100,000 in Balance sheet activity

Cost of bond $ 95788 Debit to the investments

account $ 95,788

Annual interest on Credit to the income account

Bond of $ 5000 - interest income

No impact of fair market value

in financial statement

2 Purchase of 6000 Debit $ 255,000 to the Investing activity

shares of Dalton ltd investment account

Receipt of dividend Credit $ 12,000 to the

dividend income account

3 Acquisition of 30% Debit $ 21,500,000 to the Investing activity

ASP's outstanding stock investment account

Receipt of dividend Credit $ 1,000,000 to the

dividend income account

7 0

3 years ago

You would like to filter your large worksheet down to only sales from january. Which action must you take before using the filte

nignag [31]

Before using the filter feature you must make sure your data has no empty rows or columns.

The filter feature "filters" a number of facts based on furnished criteria. The end result is an array of matching values from the original range. In plain language, the clear-out function will extract matching statistics from a set of data by means of applying one or more logical assessments.

A filter is an application or section of code that is designed to look at each entering or output request for certain qualifying criteria and then method or forward it hence. This term become used in UNIX structures and is now used in different operating systems.

Rows are the horizontal lines in the worksheet, and columns are the vertical traces within the worksheet. in the worksheet, the full rows are 10,48,576, whilst the total columns are 16,384. inside the worksheet, rows vary from 1 to 1,048,576, while columns range from A to XFD.

Learn more about filters here brainly.com/question/7411233

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7 0

2 years ago

(Life-Cycle Hypothesis) According to the life-cycle hypothesis, what is the typical pattern of saving and spending for an indivi

hammer [34]

Answer & Explanation:

Modiglani's Life cycle Hypothesis depicts spending & consumption pattern of people, in order to stabilise / or smoothen their consumprtion. The theory has following phases :

Early (Non Working) Age, Low Income stage : Borrowings are done, to cover up for lack of income that yields desirable stable consumption level.
Youth, Earning (Working) Age : Savings are done, through surplus of income level over desirable stable consumption level.
Old, Post retirement (Non working age) : Dissavings are done, funds from previous savings are used to cover for lack of income that yields desirable stable consumption level.

Implication rate for entire economy saving rate : It implies that economy's savings rate is high, if more population comprises of middle aged working population.

7 0

3 years ago

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank stat

lys-0071 [83]

Answer:

The adjusted cash balance per the bank records should be $29,406

Explanation:

Adjusted Balance is the money that a business or individual should have in the bank account assuming all the entries made in the cash book are correct.

As Bank deducted $45 ( $94 - $49 ) more in respect of check written. Check written is a deduction which is made against the payment against the check written.

Balance as per bank statement ___ $29,361

Add: Correction of error ($94 - $49)_$45

Adjusted Cash Balance _________ $29,406

6 0

3 years ago

During the revolutionary war, the american colonies could not raise enough tax revenue to fully fund the war effort; to make up

GuDViN [60]

I guess the correct answer is Anyone who is holding money.

When the government prints money, it imposes a tax on anyone who is holding money. This is because printing money decreases the value of money by causing inflation.

Inflation is an increase in the overall level of prices in the economy.

4 0

4 years ago

What is profit and loss account​

What is profit and loss account