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3 years ago

6

Nicole thinks that her business, nicole's getaway spa (ngs), is doing really well and she is planning a large expansion. with su

ch a large expansion, nicole will need to finance some of

1 answer:

lina2011 [118]3 years ago

3 0

Pretty sure the answer would be that she will need to finance some of the cost, with her debt. Please correct me if I'm wrong though!

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Which of the following is true of applications for employment?

AleksAgata [21]

Answer:

3.

Explanation:

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3 years ago

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andie needs to borrow $6,000 to buy a car. one dealer offers her a monthly payment of $193.60 on a 3-year loan with an apr of 10

Kitty [74]

Given the above stated information, the the correction options is C. Three year loan costs less than 4 year loan.

<h3>What is a the calculations justifying the above answer?</h3>

The computation is executed using excel. Here is the explanation for same:

There are two loan choices available. We must calculate the total payments for both alternatives and choose the one with the lowest cost.
The first option is to pay $193.60 per month with 10% interest for 3 years.
The second option is to pay $158 per month for four years at 12% interest.
Total cost for option 1 is $969.60.
Total cost for option 2 is $1584.00.

Hence from

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Full Question:

Please see the attached image

7 0

2 years ago

Following are the accounts and balances from the adjusted trial balance of stark company

Lorico [155]

Answer:

STARK COMPANY

INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31

PARTICULARS AMOUNT $

Service Revenue 20,000

<u>Expenses</u>

Supplies expense 200

Interest expense 500

Insurance expense 1,800

Utilities expense 1,300

Depreciation expense 2,000

Wages expense <u>7,500</u>

Total expenses <u>13,300</u>

Net profit <u>6,700</u>

STARK COMPANY

STATEMENT OF RETAINED EARNINGS

FOR THE YEAR ENDED DECEMBER 31

Amount $

Retained earnings December 31 prior year end 14,800

Add- Net income 6,700

Less- Dividends 3,000 <u>3,700</u>

Retained earnings, December 31 Current year end <u>18,500</u>

3. STARK COMPANY

BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31

Current Assets

Cash 10,000

Accounts receivable 4,000

Office supplies 800

Prepaid insurance <u>2,500</u>

Total current asset 17,300

Non Current Assets

Buildings 40,000

Less- Accumulated dep. <u>15,000</u>

Total Non Current Assets <u>25,000</u>

Total Assets <u>42,300 </u>

Liabilities

Current liabilities

Accounts payable 1,500

Interest payable 100

Notes payable 11,000

Unearned revenue 800

Wages payable <u>400 </u>

Total Current liabilities 13,800

Long term liabilities

Common stock 10,000

Retained earnings 18,500 <u>28,500</u>

Total liabilities and capital <u>42,300</u>

7 0

3 years ago

In its income statement for the year ended December 31, 2022, Sunland Company reported the following condensed data.

melomori [17]

Sunland Company

Multi Step Income Statement

For the Year Ended December 31, 2022

Net sales $ 2,200,000

Less: Cost of goods sold ($ 1,257,000)

Gross margin / Profit $ 943,000

Less: Operating expenses ($ 722,000)

Income from operations $ 221,000

Other revenues and gains:

Interest revenue $ 35,000

Other expenses ans losses:

Interest expense ($ 72,000)

Loss on disposal of plant assets ($ 18,000) ($ 90,000)

Income before income taxes $ 166,000

Income taxes expenses ($ 46,000)

Net income $ 120,000

Sunland Company

Comprehensive Income Statement

For the Year Ended December 31, 2022

Net income $ 120,000

Add: Other comprehensive income $ 8,400

Comprehensive income $ 128,400

Net income (NI), also called net earnings, is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. It is a useful number for investors to assess how much revenue exceeds the expenses of an organization. This number appears on a company's income statement and is also an indicator of a company's profitability.

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7 0

2 years ago

Carson company on july 15 sells merchandise on account to tayler co. for $2,000, terms 2/10, n/30. on july 20 tayler co. returns

julsineya [31]

The amount of cash received will be the net of discounts and sales returns.

Given,

the sales = $ 2,000

The sales return = $ 800

The discount will be allowed only if the payment is made within the discounts period i.e. 10 days. The sales were made in 15th July and Payment is made on 24th July, thus Carson company is eligible for the discount. The discount will be calculated on the sales net of returns

Net sales = $ 2,000 - $ 800 = $ 1200

Discount = 2 % X $ 1,200 = $ 24

The cash received = $ 2,000 - $ 800 - $ 24 = $ 1,176

5 0

3 years ago