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
aleksandr82 [10.1K]
3 years ago
12

Income Statement Imaging Services was organized on March 1, 2018. A summary of the revenue and expense transactions for March fo

llows: Fees earned $482,000 Wages expense 300,000 Rent expense 41,500 Supplies expense 3,600 Miscellaneous expense 1,900 Prepare an income statement for the month ended March 31. Imaging Services Income Statement For the Month Ended March 31, 2018 $ Expenses: $ Total expenses $ Check My Work10 more Check My Work uses remaining.
Business
2 answers:
IrinaVladis [17]3 years ago
7 0

Answer:

Total Expense:      $ 347,000

Income:    $ 135,000

Explanation:

<u><em>Income Statement Imaging Services </em></u>

<u><em>For the Month Ended March 31, 2018</em></u>

Fees earned                                                                          $482,000

Wages expense                                      $ 300,000

Rent expense                                                $41,500

Supplies expense                                           $3,600

Miscellaneous expense                                   $1,900          

Total Expenses                                                                         $ 347,000

Income                                                                                       $ 135,000 Wages, rent , supplies and miscellaneous expenses are totaled and deducted from the fees earned. Fee earned is the revenue and the expenses are deducted from it. By deducting expenses from revenue we get the income.

Vladimir [108]3 years ago
3 0

Answer:

Income statement of Imaging Services for the year ended March 1 , 2018  

                                                       Amount in $      Amount in $  

Revenue                                                                      482,000.00  

Supplies expense                                                      <u>   (3,600.00)  </u>  

Gross profit                                                               478,400.00  

Operating expenses:  

Wages expense                                 300,000.00  

Rent expense                                             41,500.00  

Miscellaneous expenses                       1,900.00      <u>(343,400.00) </u>

Net profit                                                               <u> 135,000.00  </u>

Explanation:

The income statement is a statements of the sales/ revenue and the expenses incurred by an entity for a given period.

The net of the sale and cost of sales (supplies expense in this case) gives the gross profit which is netted off the operating expenses to get the operating profit.  

You might be interested in
Which of the following are conflict indicators?
adell [148]

All of these can be indicators of conflict EXCEPT

having a cheerful, positive demeanor and respectful comments.

In a well-functioning organization, you would hope to find both of these traits amongst your workers. They are signs that things are running smoothly with little conflicts.

7 0
3 years ago
Read 2 more answers
Which of the following statements summarizes why the window of vulnerability is shrinking? People are getting better at enduring
Firdavs [7]

Answer:

More people are interested in information security, and have developed the skills to find new vulnerabilities.

Explanation:

In the past, few people are interested in information security due to the fact that, it was a new field that was not exploited then. This create an ample opportunity for the windows vulnerability for hackers. Currently, due to increasing interest in information technology, the vulnerability of windows are shrinking.

7 0
3 years ago
A bear market is distinguished by ________.
kiruha [24]
<span>A bear market is distinguished by a declining stock market and decreasing investor confidence. A bear market is when security prices fall and the stock market starts to take a downward turn. The market tries to become self-sustaining so investors start to sell off their stocks and securities. </span>
8 0
3 years ago
Read 2 more answers
Suppose two athletes each sign 10-year contracts for $80 million. In one case, we’re told that the $80 million will be paid in 1
marusya05 [52]

Answer:

The athlete with equal installments got the better deal.

Explanation:

Two athletes each sign 10-year contracts for $80 million.

In one case, we’re told that the $80 million will be paid in 10 equal installments.

In the other case, the $80 million will be paid in 10 installments, but the installments will increase by 5 percent per year.

The one with equal installments will get $8 million every year.

But the one with increasing installments will get smaller payments initially as his payments were to be increased by 5% each year.

Though the total value of both the annuities will remain the same.

7 0
2 years ago
What is your assessment of the Under Armour’s performance downturn in North America that first appeared in the fourth quarter of
nikklg [1K]

Answer: The answer is given below

Explanation:

My assessment of the Under Armour’s performance downturn in North America that first appeared in the fourth quarter of 2016 was that Under Armour’s 2016 downturn was caused as a result of the reduction in the sale and earnings outlook.

Also, the weakened demand that occurred in North America had a negative effect on demand and resulted in the company dropping from 25.7% in the first quarter, to 21.5% in the second quarter and about 15.6% in the third quarter.

4 0
3 years ago
Other questions:
  • g Two companies market new batteries targeted at owners of personal music players. Dura Tunes claims a mean battery life of 11 h
    12·1 answer
  • Which of these factors would be considered when making a location decision at the region/community level?
    11·1 answer
  • laston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of un
    8·1 answer
  • At Backstreet Books, Inc., the department manager uses a hand-held scanner to determine the quantity of each best seller the boo
    11·1 answer
  • How can expansionary and contractionary tax policies be used to manage the economy? Be sure to give your answer in two to three
    7·2 answers
  • The owner of a bookstore in a college town notices that demand for certain textbooks peak during certain times of the year.She a
    13·1 answer
  • Jade puts a picture of a collection of rare sports memorabilia up for bids on BuyBay, an Internet auction site. Khalil makes the
    14·1 answer
  • Suppose the government wanted to regulate this market using a price-based instrument. What is the efficient level of a tax on em
    14·1 answer
  • Assuming Year 2 net credit sales totaled $122,000, what was the company's average days to collect receivables
    10·1 answer
  • Help me please.. there is no option on here for Human Resources principals, so I jus clicked business as the subject..
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!