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dusya [7]
1 year ago
15

The adjusted trial balance of Sheri dan Company at December 31, 2022, includes the following accounts: Owner's Capital $16,000,

Owner's Drawings $7,700, Service Revenue $38,800, Salaries and Wages Expense $15,200, Insurance Expense $2,700, Rent Expense $3,100, Supplies Expense $1,200, and Depreciation Expense $1,200.
Prepare an income statement for the year.

Business
1 answer:
jonny [76]1 year ago
7 0

Proof of income statement.

Revenue    

Service revenue   38300

Expense    

Salaries and wages expense 15700  

Insurance Expense 2300  

Rent Expense  4600  

Supplies expense 1200  

Depreciation Expense  1400  

Total expense   25200

Net income   13100

Sales are the sum of the revenue generated from the sale of goods or services related to the company's main activities. Income, also known as gross income, is often referred to as the "top line" because it is at the top of the income statement. Income or net income is the total profit or profit of the business.

Learn more about Revenue at

brainly.com/question/16232387

#SPJ1

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during 2017, trey corporation accrued warranty expense based on 3.5% of net sales revenue. during 2018, trey corporation revised
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For the year ended December 31, 2018, the warranty-related entry would include a debit to warranty expense of $80,000.

If it's miles impracticable to determine the cumulative impact of applying a trade-in accounting principle, then the new accounting principle should be applied prospectively as of the earliest date practicable. in this situation, the disclosures discussed in FSP 30.4.

Cumulative effect equals the difference between the actual retained profits suggested at the beginning of the yr using the antique approach and the retained income that would have been reported at the start of the year if the brand-new technique had been utilized in earlier years.

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8 0
1 year ago
Suppose the government increases taxes by ​$11110 billion and the marginal propensity to consume is 0.990. By how will equilibri
Helen [10]

Answer:

- $1,099,890 billion.

Explanation:

Marginal propensity to consume (MPC) = 0.990

Tax multiplier = - MPC ÷ (1 - MPC)

= - 0.990 ÷ (1 - 0.990)

= - 9 9

change in GDP = Change in taxes × Tax multiplier

                         = $11110 × (-99)

                         = - $1,099,890

the minus sign shows a decrease

Hence, the change in equilibrium GDP is - $1,099,890 billion.

5 0
2 years ago
For an FBLA-PBL member who is interested in running for a state or national
DanielleElmas [232]

Answer:A

Explanation: i did the test

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1 year ago
EZBiz, the brainchild of three college friends, is a startup venture that plans to produce and market sports gear. The venture i
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Answer:

B) The public is wary of sharing confidential information after a recent spate of credit card scandals.

Explanation:

There are several advantages of click-only companies, especially that they are able to offer lower prices since they don't need to support the costs of brick-and-mortar stores.

But the whole idea of selling through the internet is based on the customers' trust on new technologies and they specially dislike when the new technologies fail, e.g. when a hacker discloses the accounts and passwords of millions of users.

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What are examples of short-term goals? Check all that apply.
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Answer:

the right answer is Aden wants to get a summer job during his school vacation.

Explanation:

short-term goals are those that are aimed at meeting monthly

6 0
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