Answer:
Net Income $
Income before income taxes 3,860
Income tax expense <u>1,544</u>
Net income <u> 2,316</u>
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Explanation:
Net income is calculated as income before income taxes minus income tax expense.
Answer:
Option (A) A debit to inventory for $200
Explanation:
The entire cost of purchasing products (including the cost of having the inventory shipped to the buyer) is reported as part of the cost of the inventory in a perpetual inventory system.
The entry of paying the charges for shipping is included in debit to inventory for $200 and a credit to cash for $200.
Hence,
The answer is option (A) A debit to inventory for $200
"If a speaker were giving an informative speech to a group with a kinesthetic learning style, he would do well to include a number of hands on activities in his speech."
Kinesthetic learning provides ways for the audience to do something in their seats, rather than listening to a lecture or watching a demonstration. You can create an activity by pairing two people together (sitting next to each other).
Answer and Explanation:
The classification is as followS:
<u>Transactions Accrual basis Cash basis </u>
1. Cash received in advance Not record record the revenue
2. Purchase supplies Not record Not record the expense
3. Received cash for services record revenue record revenue
4. Perform services Record revenue Not record the revenue
5. Pay cash for the supplies Not record record the expense
In this way it should be classified
Answer:
True
Explanation:
The statement is true; companies usually attain extra financing either by debt or equity (Preferred stock or common stock). Organisations for the most part have a decision with respect to whether to look for Preferred stock, common stock or Debt financing. The decision frequently relies on which source of financing is most effectively available for the organisation. Firms and organisation use that extra funds from stock to invest in new ventures and to buy new machinery, which increases the overall assets of the company.
