Business, 22.01.2020 06:32 thechameleonnaire
Generalāpurpose external financial reporting of a corporation focuses primarily on the needs of which of the following users?
a. the board of directors of the corporation. b. the management of the corporation. c. investors and creditors and their advisors. d. regulatory and taxing authorities.
Answers: 3
Business, 21.06.2019 21:40
Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .
Answers: 1
Business, 22.06.2019 19:00
For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jillās dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jillās purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jillās incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. kenās bait shop had a beginning balance in its inventory account of $8,000. during the accounting period kenās purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. kenās incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?
Answers: 1
Business, 22.06.2019 22:20
Which of the following is correct? a. a tax burden falls more heavily on the side of the market that is more elastic.b. a tax burden falls more heavily on the side of the market that is less elastic.c. a tax burden falls more heavily on the side of the market that is closer to unit elastic.d. a tax burden is distributed independently of the relative elasticities of supply and demand.
Answers: 1
Business, 22.06.2019 23:50
When a market is in equilibrium, the buyers are those with the willingness to pay and the sellers are those with the costs.
Answers: 2
Generalāpurpose external financial reporting of a corporation focuses primarily on the needs of whic...
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