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dusya [7]
2 years 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]2 years 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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Verdich [7]

Answer:

Marketing stimulates a competitive economy, promotes products and services, and targets consumers who are most likely to become purchasers. Higher sales for a company that employs effective marketing strategies translate into expansion, job creation, higher government tax revenue, and eventually, overall growth.

HAVE A GOOD DAY!

5 0
3 years ago
Kuzio Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Sell
rusak2 [61]

Answer:

<em>Net operating income  $8,950</em>

Explanation:

<em>The overall impact on the net operating income is the amount of increase in contribution from the addtional sales less the increase in monthly advertising budget. </em>

<em>                                                          $</em>

Contribution = ($75 × 190) =     14,250

Fixed cost - advertising       <u>    ( 5,300)   </u>    

Net operating income          <u>     8950</u>

Please, note that the fixed costs of $194,000 per month are not relevant for this decision. Simply because they would be incurred either way and that are not completely traceable to the increase sales.

3 0
3 years ago
In a small, closed economy, national income (GDP) is $ 500.00 million for the current month. Individuals have spent $ 300.00 mil
alexdok [17]

Answer:

The total investment in the economy is $50 million

Explanation:

The following equation is used to calculate the GDP: GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports)

Using this formula we can determine the amount of investment.

Investment = 500 (GDP) - 300 (private consumption) - 150 (government spending) = $50.

4 0
3 years ago
What is the equation for Student Loan Payments? ( Economics and Finances)
Rufina [12.5K]

Answer:

p= r(PV)

    ---------

    1-(1+)^-n

p=Payment

PV= Present Value

r=rate per period

n=number of periods

Explanation:

sorry if it is wrong

6 0
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Genrish500 [490]
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