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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 indirect financial and nonfinancial payments employees receive for continuing their employment with a company are called ___
gayaneshka [121]
Benefits is the correct answer
3 0
3 years ago
Prepare a multiple-step income statement for Armstrong Co. from the following data for the year ended December 31. Sales, $755,0
OLEGan [10]

Answer:

See explanation

Explanation:

                       Armstrong Co.

          Multi-step Income Statement

  For the year ended, December 31, 20YY

Sales                                              $755,000

<u>Less: Cost of merchandise sold   (330,000)</u>

Gross Profit                                                    $425,000

Less: Operating expenses

Administrative expenses  $35,000

Selling expenses               $50,000

<em><u>Total operating expenses                               $85,000</u></em>

Income from operation                                 $340,000

Other revenue and expenses:

Rent Revenue                    $25,000

interest expense               ($30,000)

<u>Total other revenues (expenses)                      $(5,000)</u>

Income before taxes                                      $335,000

<u>Less: Income Tax                                                     0</u>

Net Income (loss)                                           $335,000

That is the appropriate way to prepare a multi-step income statement

3 0
3 years ago
PepsiCo, Inc. (PEP) reported the following information about its long-term debt in the notes to a recent financial statement (in
Ann [662]

The long-term debt was disclosed as a current liability on the current year's December 31 balance sheet $4,096.

<u>Given Data provided in the question:</u>

                                          <u> Current Year</u>             <u>Preceding Year</u>

Total long term-debt         <u>   $27,917</u>                       <u>$26,557  </u>

Current portion                      <u>(</u><u>4,096)</u>                          <u>(2,224)</u>

Long-term debt                     <u>$23,821</u>                        <u>$24,333</u>

Now,

The long-term debt was disclosed as a current liability on the current year's December 31 balance sheet will be the amount equal to the current portion for the current year

Therefore, the answer is $4,096

<h3>What is Current Liability?</h3>

A current liability is:

  • An obligation that will be due within one year of the date of the company's balance sheet, and
  • Will require the use of a current asset or will create another current liability

However, if a company's normal operating cycle is longer than one year, current liabilities are the obligations that will be due within the operating cycle.

Current liabilities are usually reported as a separate section of a company's balance sheet. This allows readers to subtract their total from the company's total amount of current assets in order to determine a company's working capital. (Dividing current assets by the current liabilities is the company's current ratio.)

Your question is incomplete, but most probably your full question was:

PepsiCo, Inc. (PEP) reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt consists of the following: December 31 Current Year Preceding Year Total long term-debt $27,917 $26,557 Current portion (4,096) (2,224) Long-term debt $23,821 $24,333 a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet.

Learn more about Current liabilities on:

brainly.com/question/17367380

#SPJ4

8 0
1 year ago
What is the main function of unions (money 101)
Semenov [28]

Answer:

A union is a formal group that consists of individuals in a same field or similar professions that are united for their common interests and for protection.

The idea is that a union is more effective than seperate individuals when it comes to Organizational and institutional matters.

So we can say that the main function of unions is to promote the interest of its members and to make certain that the voice of its members is heard in matters where the individuals cannot work separately and alone.

Explanation:

8 0
3 years ago
1. If the government decides to subsidize the production of a good, the result would be a decrease in the equilibrium price and
Crazy boy [7]

Answer: False

Explanation:

When the government subsidies production of a good, it leads to a rise in the supply of the good. The supply curve shifts down to the right leading to a <em>fall in the price level</em>. But the <em>equilibrium quantity increases</em>.

Thus, the given statement is false that if the government decides to subsidize the production of a good, the result would be a decrease in the equilibrium price and a decrease in the equilibrium quantity.

7 0
3 years ago
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