Already have an account? Get multiple benefits of using own account!
Login in your account..!
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Income statements - Service and merchandising company?
We evaluate the main divisions of an income statement for a service company with those for a merchandising company. To determine productivity or net income a service company deducts total expenses incurred from revenues earned. A merchandising company is a more complex business and consequently has a more complex income statement.
Merchandising companies should deduct from revenues the cost of the goods they sell to customers to arrive at gross margin. After that they deduct other expenses. The income statement of a merchandising company has three chief divisions (a) sales revenues which result from the sale of goods by the company (b) cost of goods sold which is an expense that indicates how much the company paid for the goods sold and (c) expenses which are the company's other expenses in running the business.
In the next two sections we confer the first two main divisions of the income statement of a merchandising company. The third division expenses are comparable to expenses for a service company which we illustrated in preceding chapters. As you study these sections remember how the divisions of the merchandising income statement are related to each other and produce the final figure-net income or net loss-which indicates the profitability of the company.
Why to and by using in journal, trading a/c, p&l a/c and ledger?
WHO PREPARES A TRADING ACCOUNT AND WHY?
Derivative instrument is an asset which develops i.e. takes its origin from another asset. The simplest form of derivative is a forward contract, "It is an agreement to buy or s
Q. Explain accounting cycle? Creditors, Investors as well as Managers use these statements in evaluating management's past decisions and as a basis for making future decisions.
What is the difference between financial statements prepared from the expanded accounting equation and those prepared from a trial balance?k question #Minimum 100 words accepted#
please i need to know how to solve question in balance sheet
Illustrate the subsequent Accounting Concepts: a) Dual Aspect concept b) Materiality concept c) Matching concept d) Conservatism concept
Q. Advantages and disadvantages inventory procedure? Advantages as well as disadvantages of specific identification Companies that utilize the specific identification method of
Q. What do you mean by Risk management contracts? In the normal course of business the Company utilizes a variety of off-balance-sheet financial instruments to manage its expos
A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the mar
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd