Solution: Droopers has a legal obligation to pay a further $192000 to the landlord, as a result of a lease signed before the year end. Therefore an onerous contract exists and must be provided for. There is also an amount recoverable form the sub-tenant of $80000(32×2500). This will...
No write-up is allowed under U.S. GAAP; the firm simply reports greater profit when the inventory is sold. Other current assets amounts that may not be material if shown separately; thus, the items are combined into a single amount. An example is prepaid expenses, which are operating ...
For a business, net income is the total amount of revenue less the total amount of expenses. These expenses include cost of goods sold just like gross income. However, net income also includes selling,general, administrative,tax, interest, and other expenses not included in the calculation of ...
Operating income is often used interchangeably with earnings before interest and taxes (EBIT). However, there is a slight difference between the two: Operating income equals revenue minus operating expenses, while EBIT also subtracts the cost of goods sold (COGS). Here are the basic formulas: 营...
Your adjusted gross income is that amount minus certain qualified expenses and adjustments. You then subtract either the standard deduction or the total of your itemized deductions for the year. You can't take both itemized deductions and the standard deduction. The result is your taxable income...
InternationalFormatiiiiiiGrossprofit**Grossprofit=saleslesscostofsalesPlusanyotherincomefromsourcesotherthanthesalesofgoodsMinusotherexpensesofthebusiness,notincludedinthecostofgoodssoldNetprofitis:LessonFourIncomeStatementIncomestatementispreparedtopresenttheoperatingresultsofanorganizationforaparticularperiod. LessonFour...
What Is the Social Security Tax Limit? Once your earnings exceed a specific amount, you can stop paying into Social Security for the rest of the year. Rachel HartmanNov. 13, 2024 What Is the Best Age to Retire? The best time to exit the workforce depends on your unique situation and go...
Health risk is the main reason for extreme poverty for the underprivileged. Poor people from rural generally live in unhealthy and harmful atmospheres without clean drinking water, satisfactory sanitation, and decent housing facilities [6,7,8,9]. The low quality or less care in poor communities ...
“Many people think that passive income is about getting something for nothing,” says financial coach and retired hedge fund manager Todd Tresidder. “It has a ‘get-rich-quick’ appeal … but in the end, it still involves work. You just give the work upfront.” ...
underlying assets, which generate income for shareholders, have more market certainty and do not need to take significant risks to continue as a going concern. Exceptions to this certainly exist but by and large, their size and maturity often result in less risk-taking on the part of investors...