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Match the scenarios to the type of income earned based on the categories of the income approach.

i. Compensation of employees
ii. Corporate profits
iii. Proprietor's income
iv. Miscellaneous Adjustments
v. Net interest
vi. Rental income

a. Exterminators plus is an owner-operated business.
b. Noah, Count, Inc, collects $2000 in sales tax every month.
c. Noah, Count, Inc, recently paid out dividends to stockholders.
d. Anita house bought a duplex for additional income.
e. Mos Quito works as an exterminators fpr Bugs B Dead, Inc
f. Bugs B Dead Inc, pays its mortgage promtly every month.

Respuesta :

Chrisnando

Answer:

1. Compensation of employees

Mos Quito works as an exterminator for Bugs B Dead, Inc

2. Corporate Profits

Noah Count,Inc ., recently paid out dividends to stakeholders.

3. Proprietor's income

Exterminator plus is an owner owned business.

4. Miscellaneous Adjustments

Noah Count Inc collects $2000 in sales taxes every month

5. Net Interest

Bugs B Dead, Inc., pays it's mortgage promptly every month

6. Rental income

Anitha house bought a duplex for a additional income

Explanation:

1) Compensation of employees is the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the employee during an accounting period. In this case Mos Quito is an employee.

2) Corporate profits also called net profit is a measure of financial performance that indicates earnings after expenses and other deductions made.

3) Proprietor's income is the excess of revenue over explicit production cost of owner-operated businesses and includes payments for labor, capital, land and entrepreneurship.

4) Miscellaneous Adjustments is used to make adjustments without having to consider amount limitations.

5) Net interest is the difference between the income a bank earns from interest and the expenses (including interest payments) associated with its liabilities.

6) Rental income is the amount of money collected by a landlord from tenants using a particular space or property

Lanuel

I. Compensation of employees: Mos Quito works as an exterminator for Bugs B Dead, Inc.

II. Corporate profits: Noah, Count, Inc, recently paid out dividends to stockholders.

III. Proprietor's income: Exterminators plus is an owner-operated business.

IV. Miscellaneous Adjustments: Noah, Count, Inc, collects $2000 in sales tax every month.

V. Net interest: Bugs B Dead Inc, pays its mortgage promptly every month.

VI. Rental income: Anita house bought a duplex for additional income.

An income can be defined as an amount of money that an individual or business firm earn in return for the sales of its product or for providing a service, to consumers.

Matching each scenario to the type of income earned based on the categories of the income approach, we have:

I. Compensation of employees: Mos Quito works as an exterminator for Bugs B Dead, Inc.

  • It is the total amount of compensation or reward (both in cash or kind) that is being paid by an employer to an employee with respect to the work done  during an accounting period.

II. Corporate profits: Noah, Count, Inc, recently paid out dividends to stockholders.

  • It is also referred to as net profit and it is used to measure the financial performance of a business firm because it indicates its profit after expenses and other deductions have been made.

III. Proprietor's income: Exterminators plus is an owner-operated business.

  • It refers to the payments by a proprietor for the factors of production such as labor, land, capital, and entrepreneurship.

IV. Miscellaneous Adjustments: Noah, Count, Inc, collects $2000 in sales tax every month.

V. Net interest: Bugs B Dead Inc, pays its mortgage promptly every month.

VI. Rental income: Anita house bought a duplex for additional income.

  • It is the amount of money that is collected as rent from tenants by a landlord or owner of a landed property.

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