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Katyanochek1 [597]
3 years ago
10

Wexler, Inc.’s income statement showed total expenses for the year to be $50,000. If the company’s revenues for the year were $1

35,000 and its year-end cash balance was $35,000, what was Wexler’s net income for the year?
Business
1 answer:
SOVA2 [1]3 years ago
8 0

Answer:

The Wexler’s net income for the year is $85,000

Explanation:

Net income: If the company has excess revenues over its expenses than it is term as net income otherwise it is a net loss.  

The computation of the net income is shown below:

= Total revenues - total expenses

= $135,000 - $50,000

= $85,000

The ending cash balance is not reflected in the income statement because it has come under the asset side in the balance sheet.

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Your answer is D - petroleum.

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bazaltina [42]

Answer:

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Explanation:

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Allushta [10]

Answer: EMPATHY

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3 years ago
Read 2 more answers
Pattison Corporation is a service company that measures its output by the number of customers served. The company has provided t
allsm [11]

Answer:

Pattison Corporation

Activity Variance for "Travel expenses" for May would have been closest to:

$1,500 Favorable

Explanation:

Data and Calculations:

                           Fixed Element         Variable Element per  

                              per Month              Customer Served

Revenue                                                        $5,500

Employee salaries

 and wages            $46,300                         $1,000

Travel expenses                                             $ 500

Other expenses    $32,500

The Travel Expenses Activity Variance = Actual cost minus budgeted cost

= $8,500 - $10,000

= $1,500 Favorable

Actual travel expenses = ($500 x 17)

= $8,500

Budgeted travel expenses =  ($500 x 20)

= $10,000

Pattison Corporation's activity variance for Travel Expenses for the month of May is the difference between the actual travel expenses and the budgeted travel expenses.  The budgeted expenses are based on budgeted number of customers served in May while the actual expenses are based on actual number of customers served in May.

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Kosi worked for Playgood Sports Store. He lost his job because the store closed. Kosi is counted as _____. (A)unemployed (B)a ta
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Kosi will be counted as an unemployed because even though he is willing and able to work, he was out of employment due to a reason beyond his control.
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