1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sergio039 [100]
3 years ago
5

The financial statement that shows revenue and expenses for a period of time is the

Business
1 answer:
Elena-2011 [213]3 years ago
7 0

Answer:

balance sheet is the answer of that question answer

You might be interested in
During june, vixen company sells $850,000 in merchandise that has a one year warranty. experience shows that warranty expenses a
Musya8 [376]

Answer:

Explanation:

The journal entry is shown below:

Warranty expense A/c Dr $25,500

        To Estimated warranty liability $25,500

(Being the estimated warranty provision is recorded)

The computation is shown below:

= Merchandise sale value × given percentage

= $850,000 × 3%

= $25,500

Simply we debited the warranty expense and credited the estimated warranty liability so that the correct posting can be done.

4 0
3 years ago
The Tragedy of the Commons will be evident when a growing number of sheep grazing on the town commons leads to the destruction o
alexdok [17]

Answer:

the answer is C. auction off a limited number of sheep-grazing permits.

Explanation:

7 0
3 years ago
At the beginning of year 2, a government entity had a $500,000 judgment outstanding. The government entity paid $400,000 of the
viktelen [127]

The amount that the government entity report should report as a liability for the judgment in its year 2 governmental fund financial statements is $25000.

<h3>What is liability?</h3>

"At the beginning of year 2, a government entity had a $500,000 judgment outstanding. The government entity paid $400,000 of the judgment during year 2. The remaining balance of the judgment includes $25,000 payable early in year 3 and $75,000 payable at the end of year 4. What amount should the government entity report as a liability for the judgment in its year2 governmental fund financial statements?

A) $500,000 B) $100,000 C) $75,000 D) $25,000

It should be noted that liability simply means the future sacrifices of economic benefit that an entity is obliged to make.

Here, the amount that the government entity report should report as a liability for the judgment in its year 2 governmental fund financial statements is $25000.

Learn more about liability on:

brainly.com/question/25012970

#SPJ4

8 0
1 year ago
The year-end financial statements of Greenway Company contained the following elements and corresponding amounts: Assets = $23,0
aleksandr82 [10.1K]
The correct answer is a
5 0
3 years ago
The break-even point is the sales level at which a company_______________.a. incurs a loss. b. contribution margin equals fixed
Neporo4naja [7]

Answer:

b. contribution margin equals fixed costs

e. has a profit of $0.

Explanation:

The break even point is the point in which the firm has no profit and no loss situation. When it meets we called as break even point.

So, the break even point is the point at which the profit is zero plus the contribution margin equals to the fixed cost i.e means

Contribution margin = Fixed cost

Sales - variable cost = Fixed cost

If both are equal so it seems the profit is zero

4 0
3 years ago
Other questions:
  • You have had $5,500 in a Roth IRA account for 3 years earning 1.2% annual interest. During those 3 years, the rate of inflation
    13·1 answer
  • Current assets are economic resources that are expected to be converted to cash or used up by the business within one year or th
    14·1 answer
  • You are a senior manager at a large consumer goods company. The company president has noticed that recent college graduates and
    12·1 answer
  • An upscale restaurant offers a special fixe prix menu in which, for a fixed dinner cost, a diner can select from four appetizers
    15·1 answer
  • According to Maria Halmo, what is the most important aspect of managing finances?
    7·1 answer
  • Metaline Corp. uses the weighted average method for inventory costs and had the following information available for the year. Th
    12·1 answer
  • _____ normally is the first asset listed on a balance sheet.
    11·1 answer
  • How do the activities of marketing for value fulfill the marketing concept for the market-oriented organization
    9·1 answer
  • The Economic Stabilization Fund, created by the state legislature in 1988 as a sort of state savings account, is often also refe
    9·1 answer
  • As it relates to inventory, a buyer's time expended to prepare the purchase order for more material is considered a(n) ____ cost
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!