The income statement links the beginning and ending balance sheets
Indicate whether the statement is true or false
T
You might also like to view...
Indicate whether each of the following statements about a cash budget is true or false.A cash budget helps managers to anticipate cash shortages and excess cash balances.The cash budget has two main sections: a cash deficit section and a financing section.The total cash available is calculated by adding cash receipts and the ending cash balance.Cash payments may include outflows for inventory, selling and administrative expenses, and depreciation.Cash inflows and outflows indicated on the cash budget are reported on a company's pro forma statement of cash flows.
What will be an ideal response?
The unadjusted trial balance and the adjustment data for Porter Business Institute are shown below along with adjusting entry information. What is the impact of the adjusting entries on the balance sheet? Show the calculation for total assets, total liabilities, and equity without the adjustments; show the calculation for total assets, total liabilities, and equity with the adjustments. Which one provides the most accurate presentation of the balance sheet? Porter Business InstituteUnadjusted Trial BalanceDecember 31 (in millions)?Cash…………………………………………. $ 58,000??Accounts receivable…………..………………59,000??Prepaid insurance …………………………...12,000??Equipment
…………………………………….8,000??Accumulated depreciation-equipment ……….. ??$ 2,000Buildings……………………………………….57,500??Accumulated depreciation-buildings…………..??17,500Land………………………………….55,000??Unearned rent…………………………………..??16,000Long-term notes payable……………………….??50,000Common stock……………………….??50,000Retained earnings ……………………………….??65,600Tuition fees earned ……………………….??74,000Training fees earned …………………….??23,400Wages expense ……………………………32,000??Utilities expense ………………………….8,000??Property taxes expense ……………………5,000??Interest expense ……………………………4,000?________Totals ………………………………………..$ 298,500 ?$298,500 Additional information items:a. The Prepaid Insurance account consists of a payment for a 1 year policy. An analysis of the insurance invoice indicates that one half of the policy has expired by the end of the December 31 year-end.b. A cash payment for space sublet for 8 months was received on July 1 and was credited to Unearned Rent.c. Accrued interest expense on the note payable of $1,000 has been incurred but not paid. What will be an ideal response?
Which of the following is a primary reason that companies use e-learning to conduct sales training programs?
A) Customer needs and habits can be unambiguously conveyed through online training programs. B) Sales training programs that do not use e-learning are mostly ineffective. C) E-learning eliminates employee attrition. D) E-learning is the best way to simulate real-life sales calls. E) E-learning cuts travel and training costs.
How is consumer-oriented marketing different from customer-value marketing?
What will be an ideal response?