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notsponge [240]
2 years ago
14

Abc, inc.'s income statement shows service revenue of $40,000, wages expense of $25,000 and net income of $1,000. the other expe

nses on abc's income statement must equal ______.
Business
1 answer:
mylen [45]2 years ago
7 0

Abc, inc.'s income statement shows service revenue of $40,000, wages expense of $25,000 and net income of $1,000. the other expenses on abc's income statement must equal to $14,000.

What is income statement?

One of the most often and important financial statements you're likely to see is an income statement. Income statements, sometimes referred to as profit and loss (P&L) statements, include the cumulative effect of revenue, gain, expense, and loss transactions and include a summary of all income and expenses for a specific period.

Therefore,

Abc, inc.'s income statement shows service revenue of $40,000, wages expense of $25,000 and net income of $1,000. the other expenses on abc's income statement must equal to $14,000.

To learn more about income statement from the given link:

brainly.com/question/15169974

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Priceless Creations provides its products exclusively to Crafty's, a chain of pottery painting stores across the country. The ch
qwelly [4]

Answer: (3)  An indirect marketing channel

Explanation:

 An indirect marketing channel is one of the type of business process in which the various types of organizations and companies are promoting their products and the services in the market by using the indirect method.

 When we using the indirect marketing channel for the purpose of distribution the products in the market it is basically going through some additional type of steps for passing some information related to the products so that the customers are get attracted.    

 According to the question, the given example of the priceless creations is best illustrating abut an indirect marketing channel. Therefore, Option (3) is correct answer.  

4 0
4 years ago
The direct labor budget begins with the required production in units from the production budget.
miv72 [106K]
I believe the Answer is false
6 0
3 years ago
On January 1, Year 1, St. Clair Corporation issues 7%, 11-year bonds with a face amount of $90,000 for $83,497. The market inter
fredd [130]

Answer:

The journal entry for the issuance of the bond is shown below:

Explanation:

The entry will be recorded on January 1

Cash A/c..............................................Dr     $83,497

Discount on bonds payable A/c......Dr   $6,503

           Bonds Payable A/c............................Cr   $90,000

On issuing the bond, cash is increasing, any increase in cash is debited. Therefore, the cash account is debited. The discount on bonds payable is debited. And the bonds payable account is credited.

Working Note:

Discount on bonds payable = Bonds payable - Cash

= $90,000 - $83,497

= $6,503

6 0
3 years ago
During the 2008 financial crisis velocity decreased. This means that the rate at which money changed hands
marysya [2.9K]

Answer:

The correct answer is: A

Explanation:

The velocity of money is a measurement of the rate at which money is exchanged in an economy. It is the number of times that money moves from one entity to another. The velocity of money is important for measuring the rate at which money in circulation is being used for purchasing goods and services.

Economies that exhibit a higher velocity of money relative to others tend to be more developed. The velocity of money is also known to fluctuate with business cycles.

Velocity of money formula:

Velocity of Money = GDP / Money Supply

According to the<em> </em><em>quantity theory of mone</em><em>y</em>, inflation occurs because there is too much money available to buy the same amount of goods and services produced in the economy. It relates the general price level, the total goods and services produced in a given period, the total money supply and the speed (velocity) at which money circulates in the economy in the following equation:

MV = PQ

M stands for money.

V stands for the velocity of money (or the rate at which people spend money).

P stands for the general price level.

Q stands for the quantity of goods and services produced.

If for some reason the money velocity declines rapidly, it can offset the increase in money supply and even lead to deflation instead of inflation.

When more transactions are being made throughout the economy, velocity increases and the economy is likely to expand. <u>The opposite is also true: Money velocity decreases when fewer transactions are being made; therefore the economy is likely to shrink.</u>

7 0
3 years ago
Identify at least two points in domino's article where she might have given way to accusation
Sedaia [141]
<span>I believe the two points we can use are:
- Monaghan doesn’t own Domios’s (and hasn’t for years) 
- it’s Domino’s Farms that’s suing
Both of these points could lead to money laundering by transferring  value from one establishment to another and would be considered as a fraud attempt for costumers and the stakeholders of the domin's companies.</span>
4 0
4 years ago
Read 2 more answers
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