Presented here is information for Crane Inc. for 2025. Retained earnings, January 1 Service revenue Total expenses Dividends * Your answer is incorrect. Calculate the net income. Net income $ $192,400 eTextbook and Media 592,000 259,000 96,200 330,000.00

Q: Differentiate between Cost audit and Financial audit.

A: An auditing is a process where the auditor examines or inspects various books of accounts, followed…

Q: Can responsibility be delegated? Explain?

A: No,authority can be delegated but responsibility is absolute and cannot be delegated.

Q: Explain the term internal failure costs.

A: Internal failure costs: Internal failure costs include additional production-related costs that are…

Q: List the disadvantages of decentralization.

A: Decentralization refers to a company's top management delegating authority to subunits of the…

Q: Define sacrificing ratio.

A: Definition of Sacrificing Ratio:Sacrificing ratio is the ratio where the old partner give their…

Q: uss how to choose the appropriate benchmark for performance e

A: Choosing appropriate benchmark is very important for evaluation of performance of the portfolio.

Q: Define the term performance obligations.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Define the term avoidable cost.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Explain the difference between a controllable and a noncontrollable cost.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Describe the process of handling Unequal Service Lives?

A: Answer: When the project’s life is equal, it is easy to determine the different capital budgeting…

Q: How is the Handling of Unequal Service Lives done?

A: When decision has to be made while comparing one project with other projects and out of which only…

Q: Describe the process of Evaluating a Single Project?

A: A single project can be evaluated using quantitative, qualitative or a combination of both. Project…

Q: Which does not belong to a category? * a. Labor b. Materials c. Overhead d. Purchases

A: Answer: Purchase

Q: in management accounting strandard cost ： definition . types of strands and cost . benefit .…

A: Management Accounting: In Management  account or managerial account, directors use information in…

Q: A controllable cost is any cost that can be A. segregated B. influenced C. controlled D. excluded by…

A: Costs can be classified into various categories based on their nature, behaviours, characteristics,…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is