1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Viefleur [7K]
3 years ago
9

The following information relates to Novak Corp. for the year 2022. Retained earnings, January 1, 2022 $58,560 Advertising expen

se $2,200 Dividends during 2022 6,100 Rent expense 12,690 Service revenue 76,250 Utilities expense 3,780 Salaries and wages expense 34,160 Other comprehensive income (net of tax) 490 After analyzing the data, compute net income.
Business
1 answer:
lions [1.4K]3 years ago
7 0

THE NOVAK CORP. NET INCOME $23640 AND RETAINED EARNING IS $76100.

Explanation:

To calculate the net income of NOVAK CORP. is

           PARTICULAR                                           AMOUNT(IN $)

       SERVICE REVENUE                                      76250

    COMPREHENSIVE INCOME                            490

LESS:ADVERTISING EXPENSE                             2200

         SALARIES AND WAGES                              34160

          UTILITIES EXPENSE                                    3780

          <u>   RENT EXPENSE </u>                                       <u>12960</u>

               NET INCOME                                          23640

NOVAK CORP. RETAINED INCOME FOR THE YEAR 2022,31 DECEMBER

PARTICULAR                                                         AMOUNT(IN $)    

RETAINED EARNING                                                 58560

+<u>NET INCOME</u>                                                             <u>23640</u>

                                                                                     82200

LESS: DIVIDEND                                                           <u>6100</u>

RETAINED EARNING ON 31,DECEMBER                     76100

You might be interested in
____________ transforms resource inputs from the environment into product outputs.
Shtirlitz [24]

Answer:

Open system

Explanation:

7 0
3 years ago
The advanced machinery used for limestone quarrying in a particular region leads to noise pollution and affects the hearing abil
Tanzania [10]

Answer:

A. Recent environmental research reveals that the dust from the limestone quarrying site has severely contaminated the water at a nearby lake.

Explanation:

The limestone production results in huge social effects like, noise pollution, soil pollution, which affects lives of people. And since the manufacturers or producers of limestone do not care about the social results of such production, they shall be liable to pay huge taxes.

As for this, the cause as stated in statement A is absolutely suitable.

Also the prices are more in this area even after so much of social destruction.

Accordingly high taxes as a penalty for such social destruction shall be charged.

4 0
3 years ago
Afghntyjnytnjtyjnmtymtumtumumyumyumjm
EastWind [94]

Answer:

Afghntyjnytnjtyjnmtymtumtumumyumyumjm

Explanation:

4 0
2 years ago
A(n) _________ is a yearly published statement of the financial condition, progress and expectations of an organization.
Anika [276]

Answer: Annual Report

Explanation:

Completing the question with right answer:

An annual report is a yearly published statement of the financial condition, progress and expectations of an organization.

The financial report is normally targeted at the stakeholders and other individuals who have interest in the organization.

4 0
3 years ago
Presented below is information related to Lexington Real Estate Agency.
Ber [7]

Answer:

Oct 1

DR Cash............................................................................$20,000

CR Common Stock.........................................................................$20,000

Oct 2. No entry required

Oct 3

DR Office Furniture .....................................................$2,300

CR Accounts Payable................................................................$2,300

Oct 6

DR Accounts Receivable.............................................$3,600

CR Service Revenue - Realty services...................................$3,600

Oct 27

DR Accounts Payable ..................................................$850

CR Cash .......................................................................................$850

Oct 30

DR Salaries Expense ....................................................$2,500

CR Cash ..........................................................................................$2,500

3 0
3 years ago
Other questions:
  • Define a binary variable as ecobuy = 1 if ecolbs &gt; 0 and ecobuy = 0. in other words, ecobuy indicates whether, at the prices
    5·1 answer
  • Sandy uses online banking, and her bank charges her $4.99 per month. However, she has seen ads for a competing bank offering fre
    15·2 answers
  • Opera Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:
    14·1 answer
  • If you had a bank account, which two methods of completing transactions do you think you would use most frequently? Why?
    12·1 answer
  • Sneed Corporation reported balances in the following accounts for the current year: Beginning Ending Income tax payable $ 54 $ 3
    15·1 answer
  • The sense of urgency with respect to entrepreneurship tends to increase in European countries and other places where unemploymen
    8·1 answer
  • Suppose Big Bank offers an interest rate of 8.5​% on both savings and​ loans, and Bank A offers an interest rate of 9.0​% on bot
    7·1 answer
  • The cellular environment and one-piece completion process of Continuous Flow enables organizations to identify and eliminate non
    7·1 answer
  • Motorcycle Manufacturers, Inc. projected sales of 58,900 machines for the year. The estimated January 1 inventory is 6,090 units
    15·1 answer
  • A low-cost leader can translate its low-cost advantage over its rivals into superior profit performance by
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!