how to calculate operating expenses

Q: Income Statement 1) Why are items such as sales and labour/Gross Profit on the CR side and items…

A: 1.Revenues are recorded in the credit side of the income statement. Thus, sales and labour/gross…

Q: Schedule of Cost of Sales b. Schedule of Operating Expenses using the function of expenses method…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: can refer to a company's remaining revenues after paying all expenses and taxes. Select one: a.…

A: Revenue is the total amount of income generated by business by way of selling of goods and services.…

Q: The income statement in which the total of all expenses is deducted from the total of all revenues…

A: The income statement is prepared to find net income or losses incurred during the period.

Q: Which type of debit account is balanced in the income statement columns of a work sheet?…

A: Income statement:   It is a financial statement that calculate the net income after deducting all…

Q: Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent…

A: A flexible budget is one that can be adjusted to reflect changes in real income levels. When an…

Q: Identify the Day-to-day expenses from the following. O a. Office Expenses O b. Fuel c. Power O d.…

A: The amount that is spent on your daily activities is day-to-day expenses.

Q: Prepare the income statement and balance sheet

A: Income Statement: An income statement is one of the financial statements that display the financial…

Q: Accrued expenses are :

A: Accrued expenses are expenses that are incurred for the particular period but has not been paid yet.…

Q: Expenses incurred but not yet paid or recorded are called prepaid expenses. accrued expenses.…

A: Honor Code:  “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be…

Q: What are prepaid expenses

A: Prepaid Expense: Prepaid expense refers to the expense made for the service prior to the consumption…

Q: The interest paid is on the amounts borrowed in order to finance the day-to-day operations Select…

A: Interest paid is reported under operating activities for the firm.

Q: Is Total Operating Expenses is deducted from total Service Income to determine the result of…

A: Journal is the book in which the company will record the transactions in a chronological manner. All…

Q: If a business purchased equipment on account, which accounts would be used? O equipment and unearned…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: List various accounts in the balance sheet that representdeferred expenses.

A: Deferred expense: Expense which can be only be recognized on a future date.

Q: The following statement suits best the definition of EXPENSES a. Expenses are resources used,…

A: A Expenses is a recurring nature items to be paid. These are shown in the income statement by the…

Q: State the normal balances for the following accounts: a. Assets b. Liabilities c. Capital d. Drawing…

A: Revenue: Revenue is money your business receives from its normal business activities. Expenses:…

Q: prepaid expenses

A: Accounting treatment of prepaid expenses will be:  Correct Answer :- D Deducted from the Expenses in…

Q: general administrative, expenses selling expenses, and other expenses

A: Expenses are classified according to their nature while preparing the income statement for a…

Q: Required In a restated set of financial statements prepared in accordance with the current cost…

A: The first 3 subdivisions are answered for you. Please resubmit specifying the subdivisions you want…

Q: Receivable Fees Earned Rent Expense Telenhona Exnense

A:

Q: adjusted total expenses?

A: Correct Answer is :- C 277,000

Q: REQUIRED: • PREPARE THE CORRECT INCOME STATEMENT • PREPARE THE CORRECT BALANCE SHEET

A: The income statement and the balance sheet are the part of the financial statement that depicts the…

Q: Unearned revenues O a. are recorded as assets when cash is received. O b. are referred to as future…

A: Revenue is the total income earned by a company by selling all its goods or services. It is recorded…

Q: Define the expenses of products and periods and explain how they affect financial accounts.

A: This question explains about products and periods and financial accounts.

Q: ash, Accounts receivable, supplies, Accounts payable, unearned service revenue, common stock,…

A: In this question, we have given some transactions which we have to post in the ledger account. A…

Q: Revenue and expenses closing entries and Income statement.

A: Formula: Net income = Revenues - Expenses

Q: how to calculate administrative expenses

A: Selling and administrative expenses are expenses related to after production process. It includes…

Q: 1. The sources of money generated by the sale of products or services. A. Revenue B.Expenses C.Net…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: Give the effects of the following transactions on ASSETS, LIABILITIES, OWNER’S EQUITY, REVENUES, AND…

A: Asset = Liability + Equity + Revenue - Expenses There will always be an equal effect in both the…

Q: The combination of Selling Expenses and Administrative Expenses is referred to as Select one: a.…

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: Which Accounting Principles says personal expenses should be debited to Drawings Account. a.…

A: Lets understand all the accounting principal given in the option. As per the accounting entity…

Q: EXTENDING ADJUSTED BALANCES TO THE INCOME STATEMENT ANDBALANCE SHEET COLUMNS Indicate with an “X”…

A: Introduction:- As per the above problem, we need to know rules for preparation of income statement…

Q: What are operations expenses called that are considered indirect expenses like office salaries…

A: Operating expenses that do not relate to manufacturing of products (i.e., that are not manufacturing…

Q: xamples may include salaries, utilities, rent, insurance, and office supplies? A.Revenue B.Expense…

A: Salaries, utilities, insurance expense and office supplies expense insurance are indirect expenses…

Q: prepare Income Statement

A:

Q: Which of the following would you expect to find in acorrectly prepared income statement?a. Cash…

A: Income statement: It shows all the income earned by the business and the expenses incurred during an…

Q: which comes first when preparing a income statement?

A: Income statement is a statement which provides details of all income and all expenses of the…

Q: Define Prepaid expenses.

A:

Q: If a business earns a Net Income it means: O Capital > Revenue O Revenue > Expenses Drawings >…

A: Net income As per formula Net income = Revenue-Expenses If expenses are less than revenue than net…

Q: When a company expenses the cost of maintenance for its heating and cooling system, thatcost will…

A: Operating expenses: These are the expenses that are incurred in carrying out the normal operations…

Q: Prepare an income statement and balance sheet

A: Trial Balance Dr. Cr. Cash 45450   Common Stock   50000 Prepaid rent 3000   Equipment 5000…

Q: Question Describe the difference between Operating expenses and Non-operating expenses. Please…

A: Operating expense means the expense which is incurred for the operation of the business where as non…

Q: entries and compute the company's gross profit.

A: Sales Revenue 840,000 Less Deductions   Sales Returns and Allowances (10,000) Sales Discounts…

Q: Detail how you will ensure liquidity to meet unanticipated expenses.

A: Liquidity planning is a short-term financial planning process in which a company coordinates in- and…