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3 years ago

Which financial statement summarizes a business’s incomes and expenses?

Business

1 answer:

12345 [234]3 years ago

5 0

Answer:

Income statement.

Explanation:

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.

The income statement is a financial statement that summarizes a business’s incomes and expenses.

Hence, the main purpose of the income statement is to present your business’s earnings for a given period as it summarizes your incomes and expenses.

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An accounting firm agrees to purchase a computer for $190,000 (cash on delivery) and the delivery date is in 270 days. How much

aleksklad [387]

Answer:

$188,947

Explanation:

Data provided in the question:

Future value = $190,000

Time, t = 270 days = \text{ 270 days } = $\frac{ 270 }{365}$ = 0.73973 years

Interest rate = 0.75% = 0.0075

Compounded quarterly i.e number of periods n = 4

Now,

Future value = Amount invested × $( 1 + \frac{r}{n} \right)^{\Large{n \cdot t}} $$$

$190,000 = Amount invested × $( 1 + \frac{0.0075}{4} \right)^{\Large{4\times0.73973 }} $$$

$190,000 = Amount invested × ${ 1.00188 } ^ { 2.95892 }$

Amount invested = $188,947

4 0

3 years ago

J.C Coats Inc. carefully develops standards for its coat making operation. Its specifications call for 2 square yards of wool pe

sattari [20]

Answer:

Standard cost= $88 per unit

Explanation:

Giving the following information:

Its specifications call for 2 square yards of wool per coat. The budgeted price of wool is $44 per square yard.

To calculate the standard cost per unit, we need to multiply the total direct material quantity per unit for its unitary cost.

Standard cost= 2sq*$44= $88 per unit

8 0

4 years ago

Abey Kuruvilla, of Parkside Plumbing, uses 1 comma 200 of a certain spare part that costs $24 for each order, with an annual

BlackZzzverrR [31]

Answer:

The total cost is $345,600 at each order size.

Explanation:

Given that,

Annual holding cost = $24

Fixed cost each order = $24

Units demand per year = 1,200

(a) At order size of 25,

Total inventory cost: