Answer:
Accrued net income is $161,900
Explanation:
The formula to compute accrued net income is shown below:
= Revenue - expenses
where,
Revenue = Cash collected from customers + customers owed the company
= $295,000 + $51,000
= $346,000
And, the expenses equals to
= Cash paid for rent + Cash paid to employees for services rendered during the year + Cash paid for utilities + gas and electric expenses at the end of a year
= $31,000 + $111,000 + $41,000 + $1,100
= $184,100
Now put these values to the above formula
So, the answer would be equal to
= $346,000 - $184,100
= $161,900
Answer:
a. No journal entry required.
Explanation:
a. No journal entry required.
b. No journal entry required.
c. DR - Rent Expense - $20
CR - Cash - $20
d. Cash (DR) 7,955
DR - Collection expense - $45
CR - Notes Receivable - $8,000
e. DR - Accounts Receivable-E. Shaw - $ 805
CR - Cash - $805
f. DR - Misc Expenses - $25
CR - Cash - $25
g. No journal entry required.
i. No journal entry required.
Answer:
Correct option is C
<u>Overall operating income will decrease by $25,000.</u>
Explanation:
Sales ratio = Sales of product 1 : Sales of product 2 = 200,000:300,000 = 2:3
Sum of sales ratio = 2+3 = 5
Common fixed cost:
Product 1 = 2/5×46,000 = $18,400
Product 2 = 3/5×46,000 = $27,600
Total net operating income = Net operating income of product 1 + Net operating income of product 2 = 46,600+(2,600) = 46,600-2,600 = $44,000
Now, comparing with the total net operating income of both the product ($44,000) with only product 1 ($19,000); overall operating income decreases by $25,000 (44,000-19,000)
Answer: A way to earn money.
Explanation: There are many other ways to earn, like selling drugs, or robbing a elderly woman who tries to hit you with her cheap shoulder bag. There are many ways.
<h2>"Innovative" traits best describes Carol</h2>
Explanation:
Based on the given statement, Carol Bates is very much interested in grabbing the latest gadgets. It means that,
- Carol is updated
- Adaptable to change
- Have exploring capability to upgrade
- A technology savvy
- Monitors market and has good knowledge on current trends
- Self-motivated to be on track
- Has creative skills to use the latest gadgets
All the above qualities describes that Carol Bates is innovative.
