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SOVA2 [1]
3 years ago
8

A managerial accounting report that presents predicted amounts of the company's revenues and expenses for the budget period is c

alled a:
a) Budgeted income statement.
b) Budgeted balance sheet.
c) Master plan.
d) Rolling income statement.
e) Continuous profit statement.
Business
2 answers:
sukhopar [10]3 years ago
6 0

Answer: a) Budgeted income statement.

Explanation: The income statement refers to an organizations spending and revenue for a specific period of time. It contains Financial figures on the spendings made or cost incurred and the revenue made for the period which could be on a monthly, quarterly or yearly basis as the case may be. However, as the name implies, the budgeted income statement refers to a a sttemnt of expenses and revenue expected or envisaged at a certain period in the future. The amount stated in the budgeted income statement are made from projections and not the actual figures incurred or earned.

marin [14]3 years ago
6 0

Answer:

The correct option is budgeted income statement,option A.

Explanation:

Budgeted balance sheet shows predicted amounts of assets,liabilities and shareholders' equity ,hence it i a wrong choice.

Rolling income statement is a forecast income statement that is updated at intervals say every three months in the light of the recent economic trends in order that the forecast can mirror to some extent what is presently obtainable in the economy.

Budgeted income statement,the correct option is a forecast of revenues and expenses for a budgeted cycle.

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The following extract was taken from the worksheet of Special Events Bakers for the year 2019.
malfutka [58]

Answer:

The amount of Depreciation Expense for the equipment used in the business is $1,700

Explanation:

In order to calculate the amount of Depreciation Expense for the equipment used in the business we would have to make the following calculation:

amount of Depreciation Expense for the equipment used in the business= Adjusted Trial Balance-Unadjusted Trial Balance

amount of Depreciation Expense for the equipment used in the business= $ 9,400-$7,700

amount of Depreciation Expense for the equipment used in the business= $1,700

The amount of Depreciation Expense for the equipment used in the business is $1,700

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3 years ago
During the gdl program, the dps can suspend or revoke your license for __________ or more moving violations in twelve months.
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3 years ago
The conversion price of CRX’s convertible ($1,000 par) subordinated debentures is $40 and the present market price of CRX common
Tom [10]

Answer:

$1,200

Explanation:

For this question, we use the unitary method that is shown below:

Given that

Conversion price = $1,000 par

And, the subordinated debentures is $40

And the present market price is $48

So, the present conversion value is

= Conversion price ×  the present market price ÷ the subordinated debentures

= $1,000 × $48 ÷ $40

= $1,200

 

5 0
3 years ago
What role does ethics play in choosing and applying a depreciation method?what role does ethics play in choosing and applying a
Minchanka [31]

Answer:

Explanation:

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8 0
3 years ago
Dakota Company experienced the following events during Year 2. Acquired $30,000 cash from the issue of common stock. Paid $12,00
a_sh-v [17]

Question Completion:

January 1 general ledger balances: Cash = $2,000, Land $12,000, Notes Payable $0, Common Stock $6,000, and Retained $8,000.

Answer:

Dakota Company

Event      Assets           = Liabilities   + Stockholders Equity    Account Titles

              Cash   Land   = Accts Payable Common  Retained    for Retained

                                                                  Stock      Earnings      Earnings

Balance 2,000 12,000 = 0                +   6,000          8,000

1.          30,000             =                    + 30,000

2.        -10,000 +10,000

3.         10,000              =  10,000

4.        20,000              =                                          20,000 Service Revenue

5.          -1,000              =                                           -1,000 Utilities Expense

6.       -15,000               =                                        -15,000 Operating Exp.

7.        -2,000               =                                         -2,000

8.                           700 =                          +700

Bal. $34,000 $22,700 = $10,000   + $36,700     $10,000

b-1. Income Statement for the year ended December 2018:

Service Revenue      $20,000

Operating expenses   15,000

Utilities expense           1,000

Total expenses        $16,000

Net Income               $4,000

b-2. Statement of changes in equity for the year ended December 31, 2018:

Common stock, January 1    $6,000

Additional common stock    30,000

Land Revaluation                       700

Common stock, Dec. 31     $36,700

Retained earnings,

January 1                   8,000

Net Income                4,000

Dividends                 -2,000

Retained earnings             $10,000

Total equity                       $46,700

b-3. Balance Sheet as of December 31, 2018:

Assets:

Cash                                      $34,000

Land                                        22,700

Total assets                         $56,700

Liabilities and Equity:

Liabilities                              $10,000

Common stock                     36,700

Retained earnings                10,000

Total liabilities and equity $56,700

c. Percentage of assets provided by retained earnings

= $10,000/$56,700 * 100 = 17.64%

Yes.  The cash in retained earnings = $34,000 * 17.64% = $5,998.

Explanation:

a) Data and Calculations:

Analysis of Transactions during Year 2:

Cash $30,000 Common Stock $30,000

Land $12,000 Cash $12,000

Cash $10,000 Loan $10,000

Cash $20,000 Service Revenue $20,000

Utilities Expense $1,000 Cash $1,000

Operating Expenses $15,000 Cash $15,000

Dividends $2,000 Cash $2,000

Land $700 Revaluation $700

5 0
3 years ago
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