Answer:
A gain has a Credit balance and is shown on the Income Statement. C. A loss has a Debit balance and is shown on the Income Statement.
Explanation:
As we know that the revenues and gains contains the normal credit balance while on the other hand the expenses and losses contains the normal debit balance and both are reported on the income statement
The gain would be reported on the credit side of the income statement and the loss would be reported on the debit side of the income statement
So the same is relevant too
Answer:
A. The investment decreases by $771,000
Explanation:
As per the question the following details are given below :-
Net loss = $2,500,000
Total Dividend = $70,000
Owning Percentage = 30%
The computation of during the year is given below:-
Net loss + Total Dividend x Owning Percentage
= ($2,500,000 + $70,000) x 30%
= $2,570,000 x 30%
= $771,000
So, the Magnus investment in Mirika inc. reduces by $771,000
Answer:
Option which would likely appear on that budget will be:
Batch level costs: production setup.
Explanation:
Here the company uses activity based budgeting is a management accounting tool which new year budget is only seen by not considering the previous year records.
Activity based budgeting which is a budgeting method in which firstly the overhead costs are being calculated and the the budgets gets created.
Batch-level cost is a cost which is not associated with any given specific individual units but is associated with a group of units.
For example, to set up a production run the cost incurred is associated with the batch of goods that are produced subsequently.
Another example can be be procurement costs. The expenses associated with the procurement costs include the ordering of direct materials, paying suppliers and receiving goods.
Since all of the expenses are related to the orders placed numbers, they must be allocated not to an individual product but to group of unit.
An unsubsidized federal loan is one of the loans granted by the federal government to eligible students.
<span>This loan helps the student cover the cost of higher education at a community college, trade, career or technical school, or a 4-year college or university.
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Unsubsidized federal loan or direct unsubsidized loan are available for undergraduate and graduate students. The amount you can borrow will be determined by the school. Their basis will be your cost of attendance and other financial aid you are receiving. You are the one paying off the interest incurred in this loan during all periods. In the event of non-payment, said interest will accrue and be capitalized.
Answer:
The cash (net) realizable value of the accounts receivable is accounts receivable less the ending balance in the Allowance for Doubtful Accounts.
800,000 - 65,000
This brings the total to $735,000.
