Homework Answers
Answer
The Correct answer is Option ( C).
Capital means the amount which has been invested by the owner into the business. So, this is not net income.
The following Options is not correct due to the following reasons
Option (A) Earnings means the net profit of the business. Thus it is Net Income. So, this option is incorrect.
Option (B) Excess of Revenues Over Income means excess amount of income over expenses. So, this is also Net Earnings and is an incorrect option.
Option (D) Profits means the amount which is arrived by deducting expenses` from the revenue of the organisation. Thus, this is a Net Earning and this option is also incorrect.
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QUESTION 14 All of the following are different expressions for net income except O a. earnings....
Question 1 (4 points) Each of the following accounts is closed to Retained Earnings except a....
Question 1 (4 points) Each of the following accounts is closed to Retained Earnings except a. Expenses. b. Income Summary c. Dividends. d. All of these are closed Retained Earnings. Question 7 (4 points) The financial figures on the financial statements are equal to the a. Trial balance columns on the worksheet. O b. Adjustments columns on the worksheet. c. Adjusted trial balance columns on the worksheet. d. None of the above.
All of the following are types of taxable income except Select one o a. rental income....
All of the following are types of taxable income except Select one o a. rental income. o b. life insurance benefits. c. government benefits d. the use of a company car.
Practice Question 07 Stockholders have all of the following rights except to O share corporate earnings...
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All of the following will be component of the income approach to measuring US GDP EXCEPT:...
All of the following will be component of the income approach to measuring US GDP EXCEPT: a) wages and salaries b) gross investment c) interest earned from savings deposit d) business profits
What is net income for the below statement? Presented below are changes in all the account...
What is net income for the below statement?
Presented below are changes in all the account balances of
Coronado Furniture Co. during the current year, except for retained
earnings. Increase (Decrease) Increase (Decrease) Cash $ 71,190
Accounts Payable $( 52,460 ) Accounts Receivable (net) 48,200 Bonds
Payable 82,370 Inventory 129,800 Common Stock 134,400 Investments (
48,900 ) Paid-In Capital in Excess of Par—Common Stock 15,280
Compute the net income for the current year, assuming that there
were no entries in...
Question 1 - Regular Expressions Find regular expressions that define the following languages: 1. All even-length...
Question 1 - Regular Expressions Find regular expressions that define the following languages: 1. All even-length strings over the alphabet {a,b}. 2. All strings over the alphabet {a,b} with odd numbers of a's. 3. All strings over the alphabet {a,b} with even numbers of b’s. 4. All strings over the alphabet {a,b} that start and end with different symbols. 5. All strings over the alphabet {a, b} that do not contain the substring aab and end with bb.
the statement of retained earning reports the amount Net Income (Select all that apply.) Check all...
the statement of retained earning reports the amount
Net Income (Select all that apply.) Check all that apply. may be paid out as dividends causing retained earnings to Increase may be left in the company causing retained earnings to decrease occurs when expenses are greater than revenues 1. may be paid out as dividends causing retained earnings to decrease B occurs when revenues are greater than expenses O may be left in the company causing retained earnings to increase
A fully efficient market will eliminate which of the following: A) All abnormal profits except those...
A fully efficient market will eliminate which of the following: A) All abnormal profits except those related to insider trading B) Unexpected price declines C) Cyclical patterns D) Price increases over any period of time in excess of six months E) Daily price fluctuations
E4.2 (L02) Computation of Net Income). The following are changes in all account balances of Jackson...
E4.2 (L02) Computation of Net Income). The following are changes in all account balances of Jackson Furniture Co. during the current year, except for retained earnings. Increase (Decrease) Cash £ 69,000 Accounts Receivable (net) 45,000 Inventory 127,000 Investments (47,000) Accounts Payable £ (51,000) Bonds Payable 82,000 Share Capital-Ordinary 138,000 Instructions Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of £24,000 which...
All of the following line items are found on the income statement EXCEPT for: Question 21...
All of the following line items are found on the income statement EXCEPT for: Question 21 options: A) interest expense. B) cost of product sold. C) dividends declared. D) operating expense.
Question 1 (4 points) Each of the following accounts is closed to Retained Earnings except a. Expenses. b. Income Summary c. Dividends. d. All of these are closed Retained Earnings. Question 7 (4 points) The financial figures on the financial statements are equal to the a. Trial balance columns on the worksheet. O b. Adjustments columns on the worksheet. c. Adjusted trial balance columns on the worksheet. d. None of the above.
All of the following are types of taxable income except Select one o a. rental income. o b. life insurance benefits. c. government benefits d. the use of a company car.
Practice Question 07 Stockholders have all of the following rights except to O share corporate earnings through receipt of dividends. O vote for the corporate officers. O keep the same percentage ownership when new shares of stock are issued. O share in assets upon liquidation.
What is net income for the below statement?
Presented below are changes in all the account balances of
Coronado Furniture Co. during the current year, except for retained
earnings. Increase (Decrease) Increase (Decrease) Cash $ 71,190
Accounts Payable $( 52,460 ) Accounts Receivable (net) 48,200 Bonds
Payable 82,370 Inventory 129,800 Common Stock 134,400 Investments (
48,900 ) Paid-In Capital in Excess of Par—Common Stock 15,280
Compute the net income for the current year, assuming that there
were no entries in...
Question 1 - Regular Expressions Find regular expressions that define the following languages: 1. All even-length strings over the alphabet {a,b}. 2. All strings over the alphabet {a,b} with odd numbers of a's. 3. All strings over the alphabet {a,b} with even numbers of b’s. 4. All strings over the alphabet {a,b} that start and end with different symbols. 5. All strings over the alphabet {a, b} that do not contain the substring aab and end with bb.
the statement of retained earning reports the amount
Net Income (Select all that apply.) Check all that apply. may be paid out as dividends causing retained earnings to Increase may be left in the company causing retained earnings to decrease occurs when expenses are greater than revenues 1. may be paid out as dividends causing retained earnings to decrease B occurs when revenues are greater than expenses O may be left in the company causing retained earnings to increase
E4.2 (L02) Computation of Net Income). The following are changes in all account balances of Jackson Furniture Co. during the current year, except for retained earnings. Increase (Decrease) Cash £ 69,000 Accounts Receivable (net) 45,000 Inventory 127,000 Investments (47,000) Accounts Payable £ (51,000) Bonds Payable 82,000 Share Capital-Ordinary 138,000 Instructions Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of £24,000 which...
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