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
Eva8 [605]
3 years ago
15

Centerpiece Arrangements has just completed operations for the year ended December 31, 2024. This is the third year of operation

s for the company. The following data have been assembled for the business: Prepare the income statement of Centerpiece Arrangements for the year ended December 31, 2024
Business
1 answer:
zhenek [66]3 years ago
7 0

Question Completion:

Centerpiece Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business (Click the icon to view the assembled data of Centerpiece Arrangements.) Prepare the income statement of Centerpiece Arrangements for the year ended December 31, 2018. (If a box is not used in the table leave the box empty, do not select a label or enter a zero.) Net Income

i Data Table $ $ Insurance Expense Service Revenue Utilities Expense Rent Expense Common Stock Cash Retained Earnings, January 1, 2018 6,500 92,000 800 13,000 7,000 6,400 Salaries Expense Accounts Payable Office Supplies Dividends Accounts Receivable Equipment 42,000 2,600 2,500 4,500 3,500 27,600 5,200

Answer:

Centerpiece Arrangements

Income Statement for the year ended December 31, 2024:

Service Revenue                       $92,000

Expenses:

Insurance expense $6,500

Utilities expense              800

Rent expense                 13,000

Salaries expense        42,000

Total Expense             $62,300

Net Income                     $29,700

Explanation:

a) Data:

Trial Balance as for December 31, 2024:

                                           $           $

Insurance Expense        6,500

Service Revenue                         92,000

Utilities Expense               800

Rent Expense               13,000

Common Stock                              7,000

Cash                              6,400

Retained Earnings,

 January 1, 2018                           5,200

Salaries Expense       42,000

Accounts Payable                        2,600

Office Supplies            2,500

Dividends                     4,500

Accounts Receivable  3,500

Equipment                27,600

Total                      $106,800 $106,800

You might be interested in
Assume a company has a cost of capital that is greater than zero and has cash flows related to the changes in net working capita
Otrada [13]

Answer:

A. Decrease

Explanation:

In investment appraisal with the method of Net Present Value, the bone of contention and the central matter is the TIME VALUE OF MONEY.

In the above scenario, the initial working capital was 100% released in proportions of 40%, 40% and 20%, throughout the 3 years of the project. However, if the reverse had been the case, i.e. parting with more cash now and the requirement of working capital now becomes: Year 0 = -10,000, Year 1 = - 10,000, Year 2 = -10,000, Year 3 = +30,000; the NPV would definitely shrink because the value of 10,000 each in Years 0-2 would not be the same when it is recovered from the project in year 3. The value will be smaller and hence the NPV of the project would have decreased as a result of the time value of money.

7 0
3 years ago
Suppose that a rap grouprap group called RG 2RG2 has released its first CD with LiveLive Records at an intended list price of​ $
GuDViN [60]

Answer:

D) The recording label should expand the production and distribution of RG 2RG2​'s first CD.

Explanation:

According to the law of supply and demand, since the customers are willing to pay a price higher than equilibrium price, that means that their is a shortage of the product or service and that the supply should increase in order to get the price back to equilibrium price.

7 0
3 years ago
When does information become as liability for an organization
UkoKoshka [18]

Answer:

after college hope it help :)

Explanation:

6 0
2 years ago
Read 2 more answers
Guillermo's wife was recently diagnosed with breast cancer. Guillermo had to take a considerable amount of time off work to care
Ber [7]

Answer:

perceived organizational support

Explanation:

Since in the question it is mentioned that the wife is diagnosed with the cancer and so her husband want to time off from his work and take care for her children also at the same time he was late for finishing the portion of the large project due to this he feared a lot. So the major attitude in this situation is to have perceive the organization support as  the organization should understand his family situation and allow him the time to complete the project

or should allot to someone as the case may be

6 0
3 years ago
On July 29, 2016, Wagner Trucking recorded $24,000 in services that they had performed but had not yet been paid by the customer
borishaifa [10]

Answer:

$24,000 = Account receivable

$24,000 = Account payable

Explanation:

Since it is given that

The service is performed of $24,000 but not paid by the customer so the same is to be recorded in the account receivable of the asset account

And, the Dixon trucking had the need to pay to their suppliers for $24,000 that is to be recorded in the account payable of the liabilities account

Both the amount is recorded as an account receivable and the account payable respectively

4 0
3 years ago
Other questions:
  • Monique has a balance of $5440 on a credit card with an apr of 17.7%. paying off her balance in which of these lengths of time w
    7·2 answers
  • Keynesian economics emphasized that economic downturns could be due to: inflation. T/F?
    8·1 answer
  • "Which of the following is NOT a symptom of potential investment scams? a.Pressures to get in early on the investment. b. A busi
    10·1 answer
  • Which of the following is true of assigning costs to cost objects? a.Assigning costs to cost objects can be accomplished in a nu
    6·1 answer
  • Astor Manufacturing stores hazardous and volatile chemicals in its warehouse. The warehouse has state-of-the-art equipment to ma
    6·1 answer
  • Jones Company applies overhead based on direct labor hours. At beginning of the year, Jones estimates overhead to be $480,000, m
    7·2 answers
  • Life insurance companies tend to invest in long-term assets such as loans to manufacturing firms to build factories or to real e
    6·1 answer
  • A consistent application of an inventory costing method enhances
    13·1 answer
  • Will name brainlest
    9·2 answers
  • _____ is an organization that is calling for an end in using nonhuman animals in research.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!