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
mamaluj [8]
3 years ago
14

Exercise 4-6 Completing the income statement columns and preparing closing entries LO P1, P2 These partially completed Income St

atement columns from a 10-column work sheet are for Brown's Bike Rental Company. Account Title Debit Credit Rent earned 120,000 Salaries expense 46,300 Insurance expense 7,400 Office supplies expense 16,000 Bike repair expense 4,200 Depreciation expense—Bikes 20,500 (1) Use the information to determine the amount that should be entered on the net income line of the work sheet.
Business
1 answer:
RSB [31]3 years ago
8 0

Answer:

The amount of net income is $25,600

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

The computation of the net income is shown below:

= Rent earned - Salaries expense - Insurance expense -  Office supplies expense - Bike repair expense  - Depreciation expense—Bikes

= $120,000 - $46,300 - $7,400 - $16,000 - $4,200 - $20,500

= $25,600

You might be interested in
Recently Tanveer switched jobs from a large firm to a medium-sized firm. As one of four project managers at the new firm, Tanvee
Dima020 [189]

Answer:

The correct answer is a) Esteem.

Explanation:

The pyramid of the Maslow hierarchy is based on five stages on the needs of people, which function as motivational factors for the individual; these are organized from those that must be satisfied first until reaching the peak of the pyramid.

Among Maslow's needs are:

  • Physiological needs.
  • Need for security.
  • Need for love and belonging.
  • Need for esteem.
  • Need for self realization.

In his theory, Maslow speaks that the needs are being filled from the bottom of the pyramid, which begins with the physiological needs, then progresses to reach the top of the pyramid to meet his need for self-realization. I also make it clear that the requirement should not be satisfied 100% to move on to the next one.

In this case, Tanveer needs importance for esteem. The need for esteem is divided into two: the first is self-esteem, where the need for independence and achievement are present; the second is the desire for reputation or respect of other people where prestige or status is related.

And for Tanveer, the respect and reputation of his employees in his new job are very important to him.

<em>I hope this information can help you.</em>

8 0
3 years ago
To save for​ retirement, a student invests ​$60 each month in an ordinary annuity with 6 % interest compounded monthly. Determin
professor190 [17]

Answer:

The student invests $60 each month and the interest rate is 6%. The interest rate is compounded monthly so we will take the interest rate as 0.5% (6/12).

The number of periods will be 420 (35*12) as the payments are made every month.

The present value is 0 as he is not making any investment at the start.

We need to find the future value of these payments, and for that we need to put these values in a financial calculator

PV= 0

PMT= 60

I= 0.5

N=420

Compute FV

FV=85,482

The total accumulated amount in the students annuity will be $85,482.

Explanation:

6 0
3 years ago
The Henry Ford Health System (a health care provider) has set strict limits for pharmaceutical representatives, and will no long
jeka57 [31]

Answer:

The correct answer to this question is A) it reduces the chances that Henry food health system might make any unethical purchasing decisions.

Explanation:

Ethics can be defined as the morals or principles that a person o group of person or a company believes in. Henry food health system doesn't want its doctors to accept gifts, free lunches or any kind of such perks from the pharmaceutical representative because Henry food health system thinks by providing such gifts and perks, these representatives might influence their doctors decision regarding the purchase and it might lead to doctors making an unethical decision.

4 0
3 years ago
Gulinson Corporation has two divisions: Division A and Division B. Data from the most recent month appear below: Total Company D
anzhelika [568]

Answer:

B

Explanation:

6 0
3 years ago
3. The number of days' sales in receivables is calculated as __________ divided by __________.
wlad13 [49]
B. The number of days’ sales in receivables is calculated as average accounts receivable divided by average daily sales
8 0
2 years ago
Other questions:
  • The next two questions refer to the following fictional financial statement from Sharpie Markers, who sells their markers direct
    8·1 answer
  • On july 1 of the current calendar year, plum co. paid $7,500 cash for management services to be performed over a two-year period
    13·2 answers
  • When a mortgage loan with level periodic payments has been completely repaid by the maturity date, it is said to be?
    6·1 answer
  • Barker Corp. has a beta of 1.10, the real risk-free rate is 2.00%, investors expect a 3.00% future inflation rate, and the marke
    6·1 answer
  • The annual demand for a product has been projected at 2,000 units. This demand is assumed to be constant throughout the year. Th
    8·1 answer
  • Sunland Construction enters into a contract with a customer to build a warehouse for $890000 on March 30, 2021 with a performanc
    8·1 answer
  • The cost of issuing new common stock is calculated the same way as the cost of raising equity capital from retained earnings. Fa
    13·1 answer
  • Which of the following types of product sales are most
    12·2 answers
  • On your property tax bill, you see the following table. destination share of your taxes roads $241 schools $896 public safety $1
    9·1 answer
  • Maxim has already spent $28,000 to manufacture a hamster food product called Green Health. Maxim currently has 10,000 bags of Gr
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!