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3 years ago

June

Business

1 answer:

bazaltina [42]3 years ago

5 0

Answer:

........................Income Statement for the month of June...............................

Service Revenue.....................................................................$5,544

Less Expenses

Rent Expense .................................................$440

Utilities Expense.............................................$220

Salaries and Wages Expense......................$880

Gasoline Expense...........................................$88

Total Expenses .........................................................................($‭1,628‬)

Net Income (Loss).............................................................$‭3,916‬

Service revenue = Services performed on the 5th + Services performed on the 20th

= 4,224 + 1,320

= $5,544

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Tips are considered _____. dividends taxable income gains a bonus

adoni [48]

Tips are considered taxable income.
Although they are a bonus that you get from your customers, on top of your paycheck, you still have to pay a tax on your tips given that in America, tips are considered to be a type of income. You'd get a dividend from a company, not from customers. Gain is just another word for profit.

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4 years ago

Read 2 more answers

North Around, Inc. stock is expected to return 22 percent in a boom, 13 percent in a normal economy, and −15 percent in a recess

almond37 [142]

Answer:

4.53%

Explanation:

Data provided in the question:

Expected return = ∑ (Return × probability)

Thus,

Expected return = (0.06 × 22) + (0.92 × 13) + (0.02 × (-15))

= 12.98%

Now,

Probability Return Probability × (Return-Expected Return)²

0.06 22 0.06 × (22% - 12.98%)² = 4.8816

0.92 13 0.92 × (13% - 12.98%)² = 0.000368

0.02 -15 0.02 × (-15% - 12.98%)² = 5.657608

========================================================

Total = 20.5396%

Standard deviation = $\sqrt{\frac{\text{Total probability}\times(\text{Return-Expected Return})^2}{\text{Total probability}}$

= √(20.5396)

= 4.53%

6 0

3 years ago

Feiler Corporation has total current assets of $493,000, total current liabilities of $357,000, total stockholders' equity of $1

Citrus2011 [14]

Answer:

The answer is C.

Explanation:

Current ratio shows the liquidity of of a company. This ratio tells us how a company or business is able to meet its short obligation.

This ration is very important to lenders because they use it to know of you will be able to meet the interest payment and principal

The formula for current ratio is:

Current assets/current liabilities

Total current assets is $493,000, Total current liabilities is $357,000

= $493,000/$357,000

=1.38

3 0

3 years ago

DDX Co. is a short-haul trucking company. Juan owned 1,000 shares of DDX stock. With research, he found a better investment oppo

Lina20 [59]

Answer and Explanation:

This is an example of corporation. Corporation is a legal entity wherein it goes public and offers its shares for ownership and trading in the primary and secondary market. Corporation is public limited company and has a board consisting of executives and CEO. Whereas, the shareholders do not interfere with the management decisions they are only concerned with their dividends.

In this case, Juan owned 1000 shares of DDX. DDX is a corporation because it is able to offers its shares to the general public and allows trading of shares for ownership.

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3 years ago

Samantha's Office Supplies manufactures desk organizers in its Processing Department. Direct materials are included at the incep

Paul [167]

Answer:

Total Costs Transferred Out 906422.4

Difference may be due to rounding .

Explanation:

Samantha's Office Supplies

Equivalent units

Particulars Units % of Completion Equivalent Units

Materials Conversion Materials Conversion

Completed and

transferred out 162,000 (100% ) (100% ) 162,000 162,000

WIP,

Normal Spoilage 6,480 (100% ) (100% ) 6,480 6,480

Ending inventory 30,000 (100% ) (25% ) 30,000, 7,500

Accounted For 198,480 198,480 175,980

Costs: Total Direct materials Conversion costs

WIP, beginning

inventory: 388,000 $ 300,000 88,000

Costs Added 639618 419,832 219,786

Total Costs

To Account for 1027618 719,832 307786

Divided By

Equivalent Units 198,480 175,980

Equivalent Unit Costs 5.38 3.63 1.75

Assignment of Costs 

Transferred out ( 5.38* 162,000)= 871560

Normal Spoilage (5.38* 6480)= 34862.4

Total Costs Transferred Out 906422.4

Difference may be due to rounding .

5 0

3 years ago