Explain the concept of comprehensive income. How does comprehensive income differ from net income? Correct Answer

Q: solve asap. accounting.

A: Cost of the manufactured product = Direct materials + Direct labor + Factory overheadCost of the…

Q: Bartletts Pears has a profit margin of 8.20 percent on sales of $24,300,000. If the firm has a debt…

A: Explanation of Return on Assets (ROA):Return on Assets (ROA) is a profitability ratio that measures…

Q: Financial Accounting

A: Step 1: Define Net IncomeNet income is the total profit of a company, calculated as revenues minus…

Q: Financial Accounting Problem Swift Manufacturing's payroll shows: gross wages $50,000, income tax…

A: Explanation of Gross Wages :Gross wages represent the total amount of compensation earned by an…

Q: Financial accounting question

A: Step 1: Definition:Predetermined Overhead Rate: The rate used to apply manufacturing overhead to…

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A: Use the formula:Turnover=Sales/Average Operating AssetsFrom the given data:Sales =…

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A: Step 1: Long term GainIf you are holding a capital asset and its price has been increased then you…

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A: Step 1: Calculate the expected EPS for next yearExpected EPS for next year = $2.75 Step 2: Calculate…

Q: Financial Accounting

A: Let's solve each part step by step: a. Compute the incremental income before taxes. Given:Sales…

Q: Financial Accounting Question need help

A: Step 1: Define Net IncomeNet income is the profit a company earns after subtracting all expenses,…

Q: Provide correct answer general Accounting question

A: Step 1: Define Return on Total Assets (ROA)Return on Total Assets (ROA) measures how efficiently a…

Q: The following data were taken from the accounts of Burnside Bedknobs, a retail business. Determine…

A: To determine the Gross Profit, we use the following formula: Gross Profit = Net Sales - Cost of…

Q: Prime Construction completed a job that used materials costing $25,000 and labor $35,000. If they…

A: To calculate the selling price, we need to follow these steps: Calculate Total Direct Costs:Total…

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A: Step 1: Definition of Fixed CostsFixed costs are business expenses that remain constant regardless…

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A: Step 1: Definition of Net Realizable Value (NRV)The Net Realizable Value (NRV) of accounts…

Q: General Accounting

A: Concept of Sales RevenueSales revenue represents the total amount of money  generated from the sale…

Q: Which of the following is not an asset account? a. Common Stock b. Salary Expense c. Service Revenue…

A: a. Common Stock: This is an equity account, not an asset account. b. Salary Expense: This is an…

Q: Can you solve this general accounting question?

A: Step 1: Definition of Labor Rate Variance and Labor Efficiency VarianceLabor Rate Variance measures…

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A: Step 1: Definition of Market Debt-Equity RatioThe market debt-equity ratio compares a company's…

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A: Explanation of Gross Profit: Gross profit represents the difference between sales revenue and the…

Q: The cost per equivalent unit for conversion costs for the first month is _.

A: Step 1: Key FormulaThe cost per equivalent unit is calculated as: Cost per Equivalent Unit…

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A: Step 1: Definition of Gross Margin PercentageGross Margin Percentage represents the proportion of…

Q: Can you please correct solution for this general accounting question?

A: To calculate the net income or net loss, we use the accounting equation and analyze the changes in…

Q: General Accounting question

A: Step 1: Define High-Low MethodThe high-low method is used to separate the fixed costs and variable…

Q: financial accounting

A: Step 1:a. The annual financing cost is calculated as follows: Annual financing cost = Discount rate…

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A: Step 1: Definition of DividendA dividend is a portion of a company's earnings distributed to…

Q: Compute bebtors turnover ratio ??

A: Step 1: Definition of Debtor's Turnover RatioThe debtor's turnover ratio (also known as the accounts…

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A: Step 1: Define Cost of Internal Equity (CAPM)The Cost of Internal Equity is the required rate of…

Q: Calculate the operating cash flow for the year on these financial accounting question

A: Step 1: Define Operating Cash FlowOperating cash flow (OCF) represents the cash generated by a…

Q: The degree of opereting leverage?

A: Step 1: Define Operating leverageOperating leverage is a cost accounting measure that reflects the…

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A: Step 1: Calculation of Average Accounts ReceivablesNet Accounts Receivables for 2021 = $562,500Net…

Q: 4 PTS

A: Why this is the right answer:1) Firm order to buyA purchasing promise is an agreement that is…

Q: General Accounting

A: Step 1: Define Operating IncomeOperating income is the profit realized from a company's core…

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A: STEP 1.Profit Margin for Children and Store Profit Margin1.Profit Margin for ChildrenThe child earns…

Q: Correct answer

A: Explanation of Manufacturing Overhead:Manufacturing overhead includes all indirect costs incurred…

Q: Direct labor costs related to production are:

A: Option a: This option is incorrect because direct labor is a direct cost, not part of indirect…

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A: Step 1: Define Gross ProfitThe trading profit of a company equals the difference between sales…

Q: General Accounting

A: Step 1:First calculate the cost of goods sold for the month of June and July: Cost of goods…

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A: Step 1: Annual depreciation expense  Annual depreciation expense = (Original cost - Residual…

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A: To calculate the Direct Material Efficiency Variance, use the formula: Direct Material Efficiency…

Q: Please provide solution of this accounting problem

A: Given:Total assets = $955,250Total asset turnover rate = 1.32Debt-equity ratio = 0.49Return on…

Q: Equipment $957,500

A: Explanation of Straight-Line Depreciation:Straight-line depreciation is a method used to allocate…

Q: Solve the problem : 100 units? 1000 units? 1 million units?

A: For 100 units1. Total Development Cost: $115,0002. Total Delivery Cost: 100 units * $0.75/unit =…

Q: Provide correct answer general accounting

A: Calculation of Cost per InspectionCost per Inspection = Total Estimated Overhead / Total Inspections…

Q: The variable overhead efficiency variance for September is:

A: To calculate the variable overhead efficiency variance, we use the following formula: Variable…

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A: Explanation of Per-Unit Cost: Per-unit cost represents the average total cost of producing or…

Q: The stock holders equity at the end of year

A: Explanation of Stockholders' Equity:Stockholders' equity represents the residual interest in a…

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A: Step 1: Definition of Receivables Turnover RatioThe Receivables Turnover Ratio measures how…

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A: Step 1: Definition of Itemized DeductionsItemized deductions are eligible expenses that taxpayers…

Q: Provide answer

A: Explanation of Revenues:Revenues refer to the total amount of money a company earns from its core…