Answer:
Net income for the current period is $2,350.
Explanation:
Calculation of Net Income for the Current Period.
$ $
Fees earned 7,250
Less Expenses :
Rent expense 1,300
Salaries expense 2,300
Utilities expense 345
Insurance expense 650
Supplies expense 115
Depreciation expense—equipment 190 (4,900)
Net Income / (Loss) 2,350
Answer: Note Receivable
Explanation:
A Note Receivable is a written document from a party promising to repay another party with interest on amounts borrowed in form of cash or otherwise thereby creating a debtor - creditor relationship between them.
When a promissory note is received from a customer in exchange for an accounts receivable it is a <em>Note Receivable</em> and the Payee being the creditor will record it as such.
Answer:
Yes
Explanation:
The 0.01 percent of the deviation plus the 0.01 percent of the sales average is not enough to get to the $6,300 daily, which means that the factor of the increase sales is the advertising campaign.
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