Answer:
$10,000
Explanation:
A company's income is either shared out as dividends or kept in as retained earnings. Therefore, the total of retained earnings and dividend paid out is the net income. This is the amount that will reflect in the income statement. In other words, income is calculated first before dividends or retained earnings are declared.
For Martinville, income will be calculated first before dividends are paid. Net income will be
=revenue - expenses
=$17,000 -$7,000
=$10,000
Balance in the Income Summary account was $10,000
Answer:
The correct answer is All of these answer choices are examples of significant influence.
Explanation:
Participatory influence implies a higher level of decision within an investee, without having maximum control over it. These decisions are framed within the financial and operating result, so all response options are true. According to the IFRS standard, this type of participation can be exercised in different ways, but the most common is within the highest decision-making body of the entity.
Answer:
Explanation:
Sunk, or past, costs are monies already spent or money that is already contracted to be spent. A decision on whether or not a new endeavor is started will have no effect on this cash flow, so sunk costs cannot be relevant.
For example, money that has been spent on market research for a new product or planning a new factory is already spent and isn’t coming back to the company, irrespective of whether the product is approved for manufacture or the factory is built.
Committed costs are costs that would be incurred in the future but they cannot be avoided because the company has already committed to them through another decision which has been made.
Answer:
It helps consumers tell producers when prices are too high.
Explanation:
The law of demand affirms that an increase in price results in reduced demand. It means that when prices increase, consumers will buy fewer quantities of a product or service. The law of demand shows the relationship between price and the quantity of a product consumers are willing to buy in the market.
Consumers can communicate with producers through the volume of products purchased. When the quantity purchased is low, producers will know the set prices are high.
If a bond's coupon rate exceeds its yield to maturity, the bond is selling at a premium over par.
A premium is an amount that an insured person pays to an insurance company on a regular basis to cover a risk. Description: In an insurance contract, the risk is transferred from the policyholder to the insurance company. To take on this risk, insurance companies charge an amount called a premium.
This is the price paid to an insurance company by an individual or company wishing to enter into an insurance policy. Premiums are the income of insurance companies. The premium amount depends on the type of insurance. It also depends on factors such as the type of insurance coverage. The age group to which the policyholder belongs.
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