Net Income and Retained Earning:

Q: Compare and contrast Measuring GDP using the Income Approach vs Measuring GDP using the Expenditure…

A: Gross Domestic Product is defined as the final value of the goods as well as services that used to…

Q: What formula is used to determine net profit

A: Net profit is the actual income earned by an organization after paying all the expenses. It is…

Q: Define Gross Profit Method.

A: Definition:   Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a…

Q: Define the term s price-earnings ratio?

A: Financial Ratios: Financial ratio analysis expresses the relationships between different items…

Q: How do I determine net income

A: Net Income/Loss earned during a particular period is computed by drawing the statement of Income for…

Q: what is the equation for Differential Income?

A: Let's dive deeper into the concept of Differential Income. What is Differential Income?Differential…

Q: What is net income, comprehensive income, and retained earnings balance?

A: According to the question given, we need to compute the net income, comprehensive income, and,…

Q: What is the difference between a traditional format income statement and a contribution format…

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Q: what are contrast economic concepts of income from reported income?

A: As per the income statement, the reported income refers to the income left after subtracting the…

Q: What does the gross profit percentage measure, and how is it calculated?

A: Gross margin percentage: The percentage of gross profit generated by every dollar of net sales is…

Q: Briefly explain the concepts ‘Profit and loss, Other Comprehensive Income and Total Comprehensive…

A: Profit and loss: The profit and loss is a statement which is being prepared by the entities to know…

Q: Distinguish between cash-basis net income and accrual-basis net income.

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Q: Convert from cash-basis net income to accrual-basis net income

A: Cash basis : Under cash basis of accounting, revenues and expenses are recorded only when cash is…

Q: Define Accrued income taxes.

A: Income Tax Expenses: The expenses which are related to the taxable income of the individuals and…

Q: what is the difference in preparation of mutistep incomestatement and single step income statement?

A: Multi step income statement refers to the report that showcases the company's revenues, expenses,…

Q: Definition of income measurement?

A: The income statement is one of the financial statement of the business.

Q: How to calculate or compute the operating income and the net income

A: Operating Income: Income generated from the business operation is called operating income. In simple…

Q: What is meant by net income and net loss?

A: When the company has more amount of revenue it would have positive income whereas when company has…

Q: where's the total net income under scenario b?

A: Gross Profit = Sales - Manufacturing Expenses Net Income = Gross Profit - Non Manufacturing…

Q: How do defreinciate between a accured income and prepaid income

A: Introduction: Accruals: Transactions recorded in the books but not yet received or paid cash called…

Q: Define current operation income?

A: Current operation income otherwise called as operating income.Operating Income: Operating income is…

Q: Define net income and explain its computation.

A: Net income is the amount of income which is left over revenue after all the expenses have been…

Q: Measurement of income approach consists of how much money an individual makes.

A: This question describes about the technique based on income measurement is concerned with how much…

Q: What is gross profit? How do you calculate it?

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: What is the difference between gross income and net income?

A: Gross income refers to the income or profit remaining after all the production related expenses are…

Q: What is the gross profit and how do i calculate it

A: Manufacturing department profit is also known as gross profit. This profit includes only costs…