determine the net income

Q: Define the term capital expenditure.

A:

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: What is pass-through income

A: Pass-through income is  the profits earned by a business that are distributed to owners and…

Q: Define cash-basis net income.

A: Cash basis of accounting: Cash basis of accounting refers to the recognition of financial…

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

A:

Q: Define gross pay.

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: How can we determine the net income from operations and then adjust the net income?

A:

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.

A:

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: What is the difference between capital expenditure and revenue expenditure? Give an example of each.

A:

Q: What is net income? Give three examples?

A: Net income is the calculation of the remaining amount with an organization after deducting taxes,…

Q: Define current operation income?

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

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 gross profit and how do i calculate it

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

Q: What is the difference between a contribution approach income statement and a traditionalapproach…

A: Contribution Approach Income Statement: Under this approach, contribution amount is the main focus…

Q: The cost that is incurred in the process of generating the income will be called as

A: The cost that is incurred in the process of generating the income will be called as expense.

Q: What is good works net income or liss

A: The Income statement tells the profit or loss of the firm. It's main purpose is to figure out the…

Q: what is the net income? or how do I find it?

A: Net income is the difference between the revenue and expenses for the period. Dividends is not an…

Q: The purpose of a statement of retained earning is to ?

A: Statement of Retained earnings is prepared to show the details of changes occurred in equity over an…

Q: Net net profit is computed in the

A: Net profit in computed in the Income statement or profit and loss statement .  The format of the…

Q: How do you solve the gross margin and Net income?

A: The income statement is one of the major financial statements prepared to outline and document the…

Q: what is asset? what is gross profit?

A: Financial statements: These are the financial reports prepared by an organization for a financial…