The following is the adjusted trial balance of sierra company. account title debit credit cash $ 5,000 prepaid insurance 500 notes receivable (due in 5 years) 4,000 buildings 20,000 accumulated depreciation–buildings $ 12,000 accounts payable 2,500 notes payable (due in 3 years) 3,000 h. sierra, capital 10,500 h. sierra, withdrawals 1,000 consulting revenue 9,500 wages expense 3,500 depreciation expense–buildings 2,000 insurance expense 1,500 totals $ 37,500 $ 37,500 required (1) prepare an income statement for the year ended december 31. (2) prepare a statement of owner’s equity for the year ended december 31.

Kahn company's static budget was based on sales volume of 12,000 units. its flexible budget was based on sales volume of 14,000 units. based on this information multiple choice the sales volume variance is expected to be unfavorable. the materials cost volume variance is expected to be favorable. the labor cost volume variance is expected to be unfavorable. none of the answers is correct.

Which of the following statements is correct? a. two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition. b. free cash flow (fcf) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations. c. retained earnings as reported on the balance sheet represent cash and, therefore, are available to distribute to stockholders as dividends or any other required cash payments to creditors and suppliers. d. if a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow. e. after-tax operating income is calculated as ebit(1 - t) + depreciation.

Identify and describe a variety of performance rating scales that can be used in organizations including graphical scales, letter scales, and numeric scales.