The Company's preliminary Net Income can be determined as $575.
Preliminary net income = Total Revenue - Total Expenses
= $575 ($4,230 - $3,655)
Revenue:
d. Sales Revenue $680
f. Service Revenue $2,870
i. Service Revenue $680
Total Revenue $4,230
Expenses:
a. Wages Expense $1,700
e. Utilities Expense $1,360
h. Travel Expense $115
k. Advertising Expense $480
Total Expenses $3,655
Thus, the company generated a preliminary net income of $575 for the period.
Learn more about determining net income at brainly.com/question/19850768
Answer:
D. none of these answer choices are correct.
Explanation:
The principle of revenue recognition occurs when the revenue is realized or earned either cash is received or not and it also serves the accounting accrual basis. Realizable also means that the buyer gets the product but the payment is made afterward.
In this, it does not depend on cash transactions.
Hence, the option D is correct
<span>During the recent financial crisis, many financial managers and corporate officers have been criticized for (c) Large salaries. This criticism is certainly justified given that most executives received exorbitant compensation despite a plunge in the value of their companies. Thus, their salaries are not justifiable as they are not serving the needs of the shareholders whose interest they should serve. </span>
Sarah is an accountant with desires to open her own business. she is looking for office space at a reasonable rate along with internet service. of the conditions that need to be put in place for the entrepreneurial ecosystem, she needs social and cultural norms.
Social norms are unwritten rules about how to behave but also how things 'just are' within society. Sarah is use to having internat at a rate she can afford but needs to make sure the best rate for running her business approriately is in place. These norms are similar to cultural norms that are what is unspoken to us based on the environment in which we live. They may change as the environment adapts depending on each situation.
Answer:
Trade credit means many things but the simplest definition is an arrangement to buy goods and/or services on account without making immediate cash or check payments. Trade credit is a helpful tool for growing businesses, when favorable terms are agreed with a business's supplier.
Explanation:
Trade credit allows businesses to receive goods or services in exchange for a promise to pay the supplier within a set amount of time. New businesses often have trouble securing financing from traditional lenders; buying inventory, for example, on trade credit helps increase their purchasing power.
