1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
trapecia [35]
2 years ago
11

On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 in assets in exchange for i

ts common stock to launch the business. On December 31, the company’s records show the following items and amounts.
Cash $ 7,010 Cash dividends $ 3,390
Accounts receivable 18,350 Consulting revenue 18,350
Office supplies 4,480 Rent expense 4,820
Office equipment 19,360 Salaries expense 8,370
Land 46,040 Telephone expense 910
Accounts payable 9,740 Miscellaneous expenses 720
Common stock 85,360
Business
1 answer:
dlinn [17]2 years ago
6 0

Based on the financial details of Ernst Consulting, the Income Statement would be:

                                  Ernst Consulting Income Statement

Revenue

Consulting revenue                                    <u>           18,350</u>

Total revenue                                                     <u>    18,350</u>

Expenses

Miscellaneous expenses                   720

Rent expense                                  4,820

Salaries expense                            8,370

Telephone expense                          910

Total Expenses                             <u>                          (14,820)</u>

Net Income                                                              $3, 530

<h3>What is the Net Income used for?</h3>

The net income allows the company to see its total profits for the year after expenses have been accounted for.

It is calculated by deducting expenses from the revenue like Ernst Consulting's income statement shows.

Find out more on the Income Statement at brainly.com/question/21851842.

#SPJ1

You might be interested in
An HR department at a manufacturing firm wants to ensure that applicants for production jobs provide complete information about
givi [52]

Answer: False

Explanation:

While a review of resumé would give some information about the job a physical interview would give a proper insight on the capabilities of the pool of applicants for the job.

So also verbal communication would help you access their strengths and properly allocate them to departments where they would be most efficient if selected.

A resumé wouldn’t give you such opportunities.

5 0
3 years ago
Read 2 more answers
The terms of an invoice are 3/10, n/25. this means that a ________ of the invoice date.
const2013 [10]

The terms of an invoice are 3/10, n/25 this means that a <u>discount of 3% is allowed if the invoice is paid within 10 days</u> of the invoice date.

3/10, n/25 this means that a 10% cash discount is available if the invoice is paid within 10 days, pay the net price if covered within 25 days of the invoice date. Discounts are reductions of the normal fee of a product or service with the purpose to obtain or growing income.

Trade discount refers to the deduction given by using the supplier to the purchaser within the catalog price of the goods. Cash discount implies the allowance granted to the clients by means of the supplier on the billing fee, for immediate payment.

A cash discount also referred to as a purchase cut price or income discount, is a reduction in the purchase fee of an excellent because of an early cash charge. In different words, the seller of products is inclined to lessen the fee of the goods if the purchaser is inclined to pay for the coolest in advance.

Learn more about cash discounts here brainly.com/question/14883253

#SPJ4

7 0
2 years ago
40. If you could live anywhere, where would it be?
ozzi

Answer:

40. Somewhere peaceful surrounded by nature

42. i am actually not sure

5 0
3 years ago
There are many unstated assumptions in the problem given above. Even if the mathematical solution is to make only one or two typ
Genrish500 [490]

Answer:

The unstated assumptions in the problems given is that the company may require more units of aluminium and steel, which would allow for producing more bicycles.A linear programming model cannot account for this.

Explanation:

Linear programming model: this is an algebraic description of te objectives to be minimized and the constraints to be satisfied by the variables.

3 0
4 years ago
The senior management team at a book publishing company has asked you, their director of learning and development, to attend the
Cloud [144]

Answer:

A (We should focus the analysis on reviewing worker performance appraisal information as well as conducting a sit down meeting between the manager and direct report to discuss areas for improvement.)

Explanation:

Well in my point of view A option is best. In Training need assessment TNA we determine the need for training by evaluation the gap between expected and actual performance of employees. One to one meeting with managers also help them to identify the improvement areas.

3 0
3 years ago
Other questions:
  • Selection of sales mix LO A1 Excel Memory Company can sell all units of computer memory X and Y that it can produce, but it has
    15·1 answer
  • If you purchase at&amp;t stock at $100 a share in august, and each month at&amp;t stock falls consistently, what would best desc
    11·2 answers
  • The number of employed persons plus the number of unemployed persons equals the number of persons Group of answer choices
    11·1 answer
  • The inventory valuation method that has the advantages of assigning an amount to inventory on the balance sheet that approximate
    11·1 answer
  • Professional Fees Earned Budget for a Service Company
    13·1 answer
  • A tractor to help with farm work would be an example of what kind of economic resource?
    10·1 answer
  • The Harrisburg Store has net working capital of $2,715, net fixed assets of $22,407, sales of $31,350, and current liabilities o
    10·1 answer
  • A major game software firm experienced conflict between the young Internet-savvy employees who designed the games and the older
    10·1 answer
  • The ship Audie Murphy leaves the New York Port with a ship load of GMC pick-up trucks bound for the Port of Istanbul, Turkey. A
    6·1 answer
  • Which one of the following is a primary market transaction?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!