a-simple-income-statement-________-a-combines-all-revenues-into-one-category-b-does-not-combine-all-

Question

A simple income statement ________.
A. combines all revenues into one category
B. does not combine all expenses into one category
C. separates cost of goods sold from operating expenses
D. separates revenues into several categories

Puneet Prajapati · Accepted Answer

Okay, so we robbing specimen off income statement. Okay. Followed by that, you understand that how many types of cancer we can have and what is the purpose off all of these separates? Okay, so there are actually two columns and income statement. Okay, Most of this particulars. 2nd 1 is a mode. Okay, You know what happens? Income statements Prepare to see that. How much profit or loss sanctity has indicated? Okay, enough. Like inaccessible. There is a business off on each other. And then could he wants to know how much profit off loss lying to the agent within the current financial year and even preparing cancer. Okay, so I haven&#x27;t also right fictitious here, So you can you can understand that. What type of suit? In simple in concept, we have all night. I&#x27;m segregated or aggregated at Consolidated 11. Like it actually aggregated all the elements. Okay, aggregate, it&#x27;s on. Lee, have a news. We can see all the expenses on two in one. Okay, let&#x27;s suppose the evil right here. After scenes we have I didn&#x27;t go. Okay, so it so simple income shaping this world, I don&#x27;t will be there for this. Okay. Who showed that and all the revenues or all the expenses have been combined, Mama. Bit more big, less complex statement. Okay, then I need this and then all the expenses, like operating expenses and possible So will be combining two soon. We&#x27;ll expect single element that will be known as total expenses. Okay, however, and gives already stepped in contact beagle segregate every each element of items so that we can understand how much ankle is investing in each of the expenses. Okay, so our solution batches with Joyce A Okay, that it combines simple income treatment, combines all of the elements into a single aggregated gets What choice? A is the correct answer. That&#x27;s all. Another solution.

Puneet Prajapati · Answer

bookies will be will understand the meaning of income. State. Okay, forward by their maybe throw a specimen for sure that how? Debating? So it is a one off the find engine state moves, which is prepared by an entity Who says De Prophet David off operations. Okay, so from the definition we&#x27;ve been in this day, they this statement is bear who says the but offering the ability situation off the complete operations. Let&#x27;s suppose there is a business who is in building off Funny jer. So the business entity will prepare income Statement says that how there is performing you held entity has been fall for last five years to like vice. Okay, so now we draw good specimen for income statement. Okay. However, this is Justin indicated former You will see a lot more detail for that. Then face later. The pumping problems. So, first of all, we have seats for which he actually established double business. OK, and then we have other income, like impressing Come. Okay, so that would be of a group moving okay. Afterwards we have ball stuff from soy. Okay, be referred as cogs. Shark phone. Okay, then we will have operating expenses order. By that, he will have plenty of expenses playing expensive that will be categorized in that defined hex. However, the income statement which separates it separates our stuff works. Sword from operating expenses will be known as Marty. Step in ghosted. Okay. Why? Why the name suggest like that? Because it will enable angry to identify that. What? You can see how much off the crosstalk were sold will be and what I off operating expenses there are in the business entity. Okay, so they will be able to identify that how much they are investing in Boston Call stop books that have been sold through the customers And how much expenses are how much investment is being done in Just open it to me. Business. Okay, so in operating expenses, you can invest in lost up sore means. That&#x27;s a lightem. Okay, let&#x27;s suppose you have sold. Finally check to your customers. No. In order to process for nature, you have to buy gloves. Okay, Clogs. So that will be the pasta puts on our However, in operating expenses, they will be playing their expenses like telephone. Okay, Electricity a lot. The list is not exhaustive. So that statement will be known as modernity. Step income statement. Okay, so now that matches with choice be that separate its cogs foam expenses that got operating in nature. Okay, so you can write down what I&#x27;ve written so far. However, choices, that&#x27;s all. Whatever solution. Thank you.

Puneet Prajapati · Answer

Okay, so we will draw this specimen off constraint mint. Okay, So the purpose off income stripping will be who enabled the entity toe understand that how much profit or loss they have generated within the current financial year. Okay, that is the sole purpose off. Come second. Apart from that, it does not. But it doesn&#x27;t serve any purpose just to check that. How much profit and loss. However, there is a different former we are going right now. Draw this on bigger notebooks for future reference. Okay, so first of all, we will move in basics. Okay, So is there are items okay, under which, or we can sit. There are eggs under which every, particularly, when will be a the YouTube. Okay, so Buster won&#x27;t be having every new if you consider the news. Okay, then we have expenses. So England news, we have mostly says, Okay, I didn&#x27;t know. However, engagement expenses. We have bossed off good sword and operating expenses, okay? And this cannot be done that elements of expenses will transfer there and elements off and elements off revenues will be transferred here, so this will be so this will be happily game. Okay, you cannot do this. So? So it will. Largely after giving get No. So you can brown inference from this specimen that we will have We have a new expenses. So I did differently. Okay. However, you can write what I have intensified, but our choice matches with Joyce D. That operating expenses cannot be aggregated on death at every news act. Because it isn&#x27;t. I come off expense. Okay, so Joyce is the correct answer.

Puneet Prajapati · Answer

Okay, so we will understand the specimen off income statement. Okay, for by that you will understand that how or we can say what type off items were having. Welcome statement. Okay, so let&#x27;s start with ridiculous. Okay, on the particulars. We&#x27;ve been right. Different events. And there is a second column course. We will have different type of amounts for every element off this statement. Okay, so first of all, we will write the item, which is actually most important to every type off business entity and for which the business entity has been established. That this saves okay, followed by their TV laugh. But they didn&#x27;t go. Okay, so other than cannon, boot and dressing, fixed deposit Interesting come any night but didn&#x27;t go. That is different from sales off words in services. Okay, so I would write saying so I would say services. Okay, so now these are the so both of them from price off the we&#x27;re telling go what? And he and I both business and okay, you can write down this form it, so that would be more clear to you and food ship. Okay. No daylight. Many types of expenses. Okay. Foremost expenses is like the FCC&#x27;s. The first very important expense is for us. Lost off works. So? So you can infer the meeting off. Stop what served from its name That it is the cost, which is efforting well, the were sold to the customer. Okay, after that, we have many name of expenses. Like electricity expenses. Okay. Electricity expenses ready for expenses. Okay, so I didn&#x27;t extend this line. So the telephone expenses, electricity expenses quarter by that. People have cartridge. Okay, which means in print. Okay. They&#x27;re not a lot of expenses, however, to make the income statement informative. Okay, We&#x27;ll make the income statement informative instead and stood off. Lend this different. The financial revelations segregated, or we can say, 80 a day. These expenses involved item that we knew us operating expenses. Okay, so these are the items which can be aggregated in do operating expenses. Okay, So all the expenses, which baby, I agree it in the net. Operating expenses will always be different from cost of goods sold. Okay. Bye, then. So because first of words in the activated with the saints, opportune services likes Let&#x27;s suppose you there is a business with instant furniture business, okay? Or electronic products. So the cost of raw material to possess the three sports will be considered in pasta. Okay. And then he had that Expenses will be considered in over the expenses. So in that case, we have identified over solution and that matches with Joyce be okay, So advertising expenses will not be considered as post op. It should be a idiot in operating expenses. So, Joyce, please accept dancer, that&#x27;s all for our solution.

Puneet Prajapati · Answer

because you&#x27;re going to this day The concept Outstanding living You Okay, so we will write a technical at first Bordered by that we didn&#x27;t Mr. Okay, What is the alone against the words the business in today has a little white big who would send So this is you leave us do it however, but the end to be has not they see the Okay, so we Everton our technical division and got pixies. The abstaining revenue is the amount against which the business entity has delighted season services We customer But what happens? The entity has north received payment. It means the customer hasn&#x27;t yet baby among the position. So let&#x27;s understand. However it is clear, it is very clear from the definition. Okay, but we will understand toe an example of statistical data mystery. And it is Mr Thanks. Mr has delivered some goods and services. Thank you. Oh, but $5000. But what happens? Mr. X said Mr A, that he will pay off within Vinyard within two years depending on the business to business case. Okay. No, these $500 will be considered as outstanding living. Okay, that back which has to be collected from Mr X. So the Evin district people insect off outstanding that many so in the present gave the solution Matches with joys be okay because our standing revenue and cruel it could order every new. I didn&#x27;t change a bit. And you can I don&#x27;t she number one check number or your notebooks for future reference. And that&#x27;s on for our solution. Thank you.

Puneet Prajapati · Answer

So let&#x27;s understand deterrence solution. But before that ve vill and mr how looking to pay the balance sheet and what items are comprised in the bed and shoot. Okay. Quarterback leaving. Understand? What is the solution to our Okay? I am using the traditional for more valiant shoot. Okay, who make it more clearer? So generally there are three types of items in the balance sheet. I have written all those broad items which will be classified in the balance sheet. Okay. Based on that, I have used different types of Paris for different three different times. Okay, so first of all, let&#x27;s start with liabilities. Location liabilities are the amounts which a business Anquetil has to pay off their suppliers. Okay, let&#x27;s suppose we have a business off nature. Okay? Now, to make furniture, we need raw material in inform off blocks. OK, so what happens when you when you purchase some good love song, the supplier or some other person? Okay, so what you what you said to him after purchasing or after receiving the clothes that do feel you will pay off the amount of you in a deluded wanting that Let&#x27;s him in one year What? No. What happens? That amount people becomes available after one year. No, that won&#x27;t be considered us liabilities. Okay. And that is generally owners account stupid. So I will be giving example for each off the terms, OK? And you can write it down this example for future reference. Okay, so that Jovan or get confused that how did we arrive? The correct choice at the end of the explanation. Okay. So for a region with so far making understand each of their don&#x27;t be able take example in respect of business that is dealing in furniture, sending off nature. Okay. No, What is the capital? Okay, so this amount, you can understand that. But I have written celebrities vindicated been because we have to pay it in a future. So we can, you know, in front from the liberties that it is a moment that we are not supposed to like it buy because we have because it incurs the expenses like it. It is likely to result in being love some other person from which we have received goods or services. Okay, so that is why African breakfast just I have written deputies with no windows on Capitol. It is the investment off the owner of the business. Like to support Mr A is the owner of business. No, whatever amount or whatever. Let&#x27;s see. And new day above investment, which e which Mr has bean Hezbollah into the business to start the business, okay, will be considered as capital. Okay, let&#x27;s suppose Mr a broad gash as well as his bank balance. Okay, who started the business? Okay, so the capital is the amount of investment which has been brought by owner who start doing business, OK, at the initial level, as well as in the middle of the opening love business. Okay, Now celebrities have bean gratified and capital also. Now let&#x27;s come to a sex. We&#x27;re gonna sex. Let&#x27;s suppose you have sold furniture. Who? Your new customers. Okay. No. What happens? The customers say that you are a new businessman, so I cannot trust you. Initiative. So what? I can offer you that I will pay you the Ammon okay against the furniture I have bought from you in one year&#x27;s time. Okay, So that is what our customers said to us. Know what will happen when we will have any day off amount that that is receivable from our customers. Okay, then such a long beat considered s sex. Okay, so the the referred that amount which is receivable from the accepts. Which is this even from the customers? Yes, a coincidence. E okay. Know what happens? So this is the full explanation. So I&#x27;m writing down the difference. That&#x27;s why we have maybe have a conscience. Evil. And I said site because of furniture sold on ready. Okay. Here also, we have good laws, but chased on credit basis. Lighted basis means the payment will be paired on that payment will be See a few chip on. Do you think now what happens in a suicidal to There is one item margin that is inland. No. What is it? May be in 20. Is there a moment again? Okay, it is. There are material which has no being processed yet to be converted into furniture. Okay, so in when they can include drama Gideon Vorgan progress like it has bean semi furnished. Or we can say it has bean. It is a it is in us semi persist fall like neither finished normative Sammy Sammy possessed okay in Mandarin can also finish Good. Also, which would not be sold to the customer during the current. So that is why we have in 20 on the sex site in the Ballon ship. So we have the right our solution, that on which of the statement leaving list our American dies in 20 account. Okay, so what&#x27;s what is that statement? It is balance sheet. Okay, so the correct choices. Okay, you can write down this example so that you can get a clear idea that How did be it? I beg that. How did we arrive it? This solution, that is choice. Okay, that&#x27;s on foot of a solution. Thank you.

Problem

Which of the following accounts would not be repo…

Problem 22 Medium Difficulty

A simple income statement ________.
A. combines all revenues into one category
B. does not combine all expenses into one category
C. separates cost of goods sold from operating expenses
D. separates revenues into several categories

Answer

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Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting

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Principles of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon CooperPrinciples of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting