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ioda
3 years ago
12

Below are the account balances for Cowboy Law Firm at the end of December.

Business
1 answer:
drek231 [11]3 years ago
6 0

Answer:

<u>Cowboy Law Firm</u>

<u>Income statement for the year ended December.</u>

                                            $

Service revenue              8,900

Less Expenses :

Salaries expense           (2,000)

Utilities expense              (1,100)

Net Income / (Loss)         5,800

Explanation:

Income statements shows Revenues earned and Expenses incurred at the end of the trading period.

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3 years ago
The following data were taken from the financial statements of The Amphlett Corporation, which is all equity financed. 2012 2013
Lerok [7]

Answer:

2012   -   2013

a. Return on equity    26,2%   -  25,0%

b. Return on assets    14,0%  -   14,3%

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e. Asset turnover   0,77     -      0,77  

Explanation:

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Income Statement         2012 2013

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Answer:

False.

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A strong organizational culture is one in which all employees are encouraged to work synergistically in achieving the objectives of the organization, making them their objectives as well.

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