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Serjik [45]
2 years ago
8

What are Financial Statements??​

Business
2 answers:
kiruha [24]2 years ago
7 0

Answer:

Financial statements are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.

Explanation:

Hope this helps

attashe74 [19]2 years ago
3 0

Answer:

Financial statements are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand. Wikipedia

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Palmona Co. establishes a $150 petty cash fund on January 1. On January 8, the fund shows $61 in cash along with receipts for th
saveliy_v [14]

Answer:

Palmona Co Journal entries

1.

Jan-01

Dr Petty cash 150

Cr Cash 150

2.

Jan-08

Dr Postage expense 35

Dr Merchandise inventory 14

Dr Delivery expense 16

Dr Miscellaneous expenses 24

Cr Cash 89

3. Jan-08

Dr Postage expense 35

Dr Merchandise inventory 14

Dr Delivery expense 16

Dr Miscellaneous expenses 24

Cash 89

4.

Jan-08

Dr Petty cash 300

(450-150)

Cr Cash 300

Explanation:

1. To establish petty cash fund

2.To record reimbursement

3.To record reimbursement

4. To record increase in fund balance from 150 to 450

6 0
2 years ago
Suppose that the last dollar that Victoria receives as income brings her a marginal utility of 10 utils while the last dollar th
sammy [17]

Answer:

a, Redistribute income from Victoria to Fredrick.

Explanation:

Marginal Utility is defined as the "change in the utility from an increase in the consumption of that good or service." According to my research on marginal utility, I can say that based on the information provided within the question we should Redistribute income from Victoria to Fredrick in order to maximize the combined total utility.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
2 years ago
Digital Enterprise, Inc., promises to pay its employees a year-end bonus "if profits continue to be high and management agrees a
barxatty [35]

Answer:

D) An illusory promise

Explanation:

An illusory promise is not enforceable. Illusory promises are simply illusions that seem or appear to a contract, but are not.

In this case, there is no consideration at all, therefore none of the parties is bound by a contract. It would be different if the company promised to pay a bonus if its profits are xx%. How can someone determine what is considered high profits, and how can you be sure that management will agree?

It is basically like telling someone else that you will give them something if you are happy and willing to do it. How can someone determine if you are happy or not, and how can someone know if you are willing to do it or not?

6 0
2 years ago
The Geostar Company, leading manufacturer of wireless communication devices, is considering three cost-reduction proposals in ts
S_A_V [24]

Answer: Alternative 3 will be selected.

Explanation:

The system that should be selected is the alternative that is better than the other alternatives by being higher than MARR if selected.

First compare A1 to A0

The rate of return here is 18% which is higher than the MARR of 15% so Alternative 1 should be chosen over A0 which is to do nothing.

Compare A1 to A2

If A2 is chosen over A1, the incremental return is 10% which is less than the MARR of 15% so A2 should not be chosen over A1. A1 should instead be chosen over A2.

Compare A1 to A3

If A3 is chosen over A1 then the incremental return would be 18%. This is higher than the MARR of 15% so Alternative 3 should be chosen over Alternative 1.

Alternative 3 should be chosen over A1 which should be chosen over A2 and A0.

A3 will therefore be selected.

7 0
2 years ago
Louis owns an import business. After traveling to France on numerous occasions, he developed a taste for fine French wines. A ra
leva [86]

Answer:

B) French wines will become more expensive in the United States.

Explanation:

When rate of dollar falls to that of euro, the same number of dollars will purchase fewer French goods, so French goods become more expensive to American consumers. If one travels to Europe (including France), one will exchange one dollar for less than one euro

4 0
2 years ago
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