When you friend sells your car to make money, he is using it as a

Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2015.

Slav-nsk [51]

Answer:

CHEESE FACTORY INCORPORATED

Income Statement

For the Year Ended August 31, 2015

Revenues:

Sales revenue $1,738,000

Total revenue $1,738,000

Expenses

Salaries and wages expense $975,000

Office expenses $115,000

Utilities expense $550,000

Total expenses <u>$1,640,000</u>

Net income <u>$98,000</u>

CHEESE FACTORY INCORPORATED

Statement of Retained Earnings

For the Year Ended August 31, 2015

Retained earnings, beginning $414,000

Add: Net income $98,000

Less: Dividends <u>$14,000 </u>

Retained earnings, ending <u>$498,000</u>

6 0

3 years ago

The balance of stockholders' equity at the beginning of the year and the end of the year was $ 60 comma 000 and $ 67 comma 000

Paul [167]

Answer:

Explanation:

Income/ (loss) for the year = Equity balance at the end +dividend paid- equity balance at the beginning

=$67,000+22,000-$60,000

=$29,000

Since no additional common stock was issued during the year, $29,000 represents income earned during the year before dividend is paid. After dividend of $22,000 has been paid, the balance of $7,000 profit will be added to retained earnings .

8 0

3 years ago

Leonore's Luxury Leather Footwear Corp. conducted a SWOT analysis and determined that at least 57% of consumers would demand hig

FinnZ [79.3K]

Answer: Forecast.

Explanation:

The predicted increase in sales of of the Leonore's Luxury Leather footware is an example of a forecast of future events. A forecast is an estimation of an event or trend that would possibly occur in the future.

3 0

3 years ago

Elliott has the following capital gain and loss transactions for 2021. a. Short-term capital gain $1,500 b. Short-term capital l

vazorg [7]

The net short term capital loss for Elliott for 2021 will be $(2100); and the net long term capital gain will be $9,300.

<h3>What is capital gain?</h3>

The gain or positive returns made on the investment or engagement of money during a particular period is known as a capital gain. A short term capital gain is derived within 1 year; and long term is more than a year.

Hence, the capital gains and losses made by Elliott are aforementioned.

Learn more about capital gain here:

brainly.com/question/24084696

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4 0

2 years ago

Explain how market research is different than marketing.

Elenna [48]

Answer:

Although both involve consumers, Marketing research is concerned specifically about marketing processes, such as advertising effectiveness and salesforce effectiveness, while market research is concerned specifically with markets and distribution.

Explanation:

6 0

3 years ago