Answer:
What amount should be reported in the company's income statement as income from continuing operations?
$54000
Explanation:
revenue 600000
Operating expenses -420000
Interest expense -20000
gain on sale of investments 30000
restructuirng cost -100000
Income 90000
Tax rate 40%
tax expense 36000
Net income 54000
Answer:
Explanation:
The journal entry is shown below:
1. Accounts receivable A/c Dr $160
To Sales discounts forfeited $160
(Being sales discount is recorded)
The computation of the sales discount is shown below:
= (Sales value - payment made) × discount rate
= ($40,000 - $24,000) × 1%
= $160
2. Cash A/c Dr $16,000
To Accounts receivable A/c $16,000
(Being cash is received)
The correct answer is e, controlling.
Controlling in managerial function is defined as the efforts, systematically, by which is given
by the business management in order to be able to compare the performance made
to the plans, standards or objective by means of determining if it is in lined
with the order or if there are changes needed to be made.
Answer:
4. Weighted-average equivalent units will be equal to FIFO equivalent units.
Explanation:
Equivalent units of production is been applied to the work-in-process inventory when an accounting period comes to an end. It can be regarded as expression that gives amount of work done which was recorded by a manufacturer over a units of output which was partially completed after an accounting period. For instance, if there are 100 units that are in process, then 40% of processing cost is expended , then we can say there are 40 equivalent units of production. It should be noted that the if beginning work in process is zero, the equivalent units of production computed using fifo versus weighted average will have a relationship in such a way that Weighted-average equivalent units will be equal to FIFO equivalent units.
.
Answer: c. economic regulation because they regulate only the activities of banks.
Explanation:
Economic Regulation refers to rules, regulations and policies that are established by a Governmental or Independent Adminstrative agency with the aim being to monitor the entrance of new firms as well as the activities of existing firms in an industry including the financial industry. They help protect the industry through their actions and are thus very important.
A very important example of such an organization is the Office of the Comptroller of the Currency. They have the mandate of regulating all national Banks including foreign Banks as well. As the regulator of such an industry and going by the definition of an Economic regulation, the regulation they apply is Economic in nature to ensure that the banks behave in such a way that will not be detrimental to the industry and the Economy.
