Author Question: Calculate income from operations for Jonas Company based on the following data: Sales 764,000 ... (Read 117 times)

acc299

  • Hero Member
  • *****
  • Posts: 569
Calculate income from operations for Jonas Company based on the following data: Sales 764,000 Operating expenses 52,500 Cost of merchandise sold 538,000
 a. 485,500
  b. 711,500
  c. 173,500
  d. 226,000

Question 2

The historical-cost principle refers to ________.
 
  A) measuring financial statement items at their cost at the time of the transaction
  B) an assumption that a company will continue to be in business in the future
  C) using monetary units, such as dollars, to measure the value of financial statement amounts
  D) the way revenues and expenses are recognized



ankilker

  • Sr. Member
  • ****
  • Posts: 328
Answer to Question 1

c

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

For a complete list of videos, visit our video library