Tất cả hàng hóa khi qua các kho đều lần lược qua 4 khâu nào:

When using the indirect method, adding an increase in an account such as Wages and Salaries Payable to net income eliminates the

antiseptic1488 [7]

When using the indirect method, adding an increase in an account such as Wages and Salaries Payable to net income eliminates the effect of recording Wages and Salary Expense that according this period.

<h3>What is net income?</h3>

Sales are subtracted from cost of products sold, selling, general and administrative expenditures, operating expenses, depreciation, interest, taxes, and other expenses to arrive at net income (NI), also known as net earnings. Investors can use this figure to determine how much a company's revenue exceeds its costs. This figure is a measure of a company's profitability and may be found on the income statement.

Revenues less costs, taxes, and interest equal net income (NI).
NI is used to compute earnings per share.
Because costs can be concealed via accounting techniques or revenues can be artificially overstated, investors should carefully examine the data used to calculate NI.
In addition, after deducting taxes and deductions from gross income, NI is a person's total income or pre-tax income.

To learn more about net income from the given link:

brainly.com/question/22739980

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3 0

1 year ago

Match each situation below to two applicable reasons that require an adjustment to be made.

defon

Explanation:

1. Revenue has been earned and liability has been fulfilled

The transaction date of the payment is a month before the date for which the tickets are booked. Hence, creating a liability for the company. The payment has been made in advance. But in the present month the liability of the advance payment received is fulfilled. Hence the liability generated last month fulfilled.

2. Revenue has been earned and asset has been acquired

The work performed in regard to the advertising campaign is completed by the company for which the revenue is due from the party for which the work is done. Hence resulting in the increase in revenue and increase in the asset as accrued revenue.

3. Expense has been incurred and liability has been incurred

The payment of an expense is due, resulting in the increase in the expense and creation of a liability. The bill received in the period of the current month for the duration of the current month for which the services has been provided. The mandatory payment is to be done in the coming month.

4. Expense has been incurred and asset has been used up

The benefits of the asset of the company is used up for the payment of the expense resulting in the increase in the expense and decrease in the value of the asset as the benefits added value to the asset once the benefits are used the value of the asset is decreased.

5. Revenue has been earned and asset has been acquired

The company completed the project and the payment for the project is to be received in the next month, resulting in the increase in earned revenue and the creation of the asset accrued revenue. The payment to be received in the coming month hence the accrued revenue account will shoot up with amount of payment to be received.

6. Revenue has been earned and liability has been fulfilled

The company issued gift cards and earned the revenue, but the redemption was done in the next month. Hence, creation of the liability as the advance payment is received but when the redemption is done the liability of the advance payment is discharged.

7. Expense has been incurred and asset has been used up

The benefits of the asset of the company is used up for the payment of the expense resulting in the increase in the expense and decrease in the value of the asset as the benefits added value to the asset once the benefits are used the value of the asset is decreased.

8. Expense has been incurred and liability has been incurred

The payment of an expense is due, resulting in the increase in the expense and creation of a liability. The bill received in the period of the current month for the duration of the current month for which the services has been provided. The mandatory payment is to be done in the coming month. Hence, liability is increased.

4 0

3 years ago

Handmade Soaps Company had operating expenses of $52,000. At the beginning of the year, Handmade Soaps owed $15,000 on accrued l

Softa [21]

Answer:

Cash Paid = $62000

Explanation:

To calculate the amount of cash paid by the business for operating expenses during the year, we use the following equation.

Cash Paid = Opening Accrued liability + Operating expenses for the year - Closing Accrued Liability

By plugging in the values for opening accrued liabilities, operating expenses for the year and closing accrued liabilities in the above formula, we can calculate the amount of cash paid for operating expenses.

Cash Paid = 15000 + 52000 - 5000

Cash Paid = $62000

3 0

2 years ago

On July 1 of the current year, the assets and liabilities of Wong Industries, are as follows: Cash, $15,000; Accounts Receivable

lisov135 [29]

Answer:

C. $56,700

Explanation:

From the accounting equation which shows the relationship between the elements of a balance sheet namely;asset, liabilities and equity.

Asset = liabilities + equity

Total assets = $15,000 + $12,300 + $3,100 + $35,000 = $65,400

Total liabilities = $8,700

Stockholders’ equity = $65,400 - $8,700

= $56,700

The stake of the owners of the company is $56,700

5 0

3 years ago

Jerry's Flowers had the following cost information related to its purchases of merchandise. Calculate the total cost of merchand

ch4aika [34]

Answer:

$91,100

Explanation:

Calculation to determine the total cost of merchandise purchased

Using this formula

Total cost of merchandise purchased = Invoice cost of merchandise purchases + Cost of transportation in - Purchase returns and allowances - Purchase discount

Let plug in the formula

Total cost of merchandise purchased= $100,000 + $500 - $400 - $9,000

Total cost of merchandise purchased= $91,100

Therefore the total cost of merchandise purchased is $91,100

3 0

3 years ago