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vladimir2022 [97]
3 years ago
5

The following information relates to Sheridan Company for the year 2022.

Business
1 answer:
aliina [53]3 years ago
5 0

Answer:

a. Computation of net income

Particulars                                      Amount

Service revenue                            $52,500

Less: Expenses

Salaries and wages expenses      ($23,520)

Utilities expense                             ($2,600)

Rent expense                                  ($8,740)

Advertising expense                      <u> ($1,510)</u>

Net Income                                      <u>$16,130</u>

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b. Computation of comprehensive income statement

Particulars                                            Amount

Net Income                                           $16,130

Add: Other Comprehensive Income  <u> $380    </u>

Comprehensive Income                      <u>$16,470</u>

Note: Dividend will not be included as it forms part of Income statement

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NISA [10]

The Frank and Bridge Books is a book reseller that has both a heavy online presence and 30 physical bookstores. Frank and Bridge Books is an example of a click-and-mortar business. Therefore, option C is the correct option.

<h3>What is a business?</h3>

A business is an economic activity that includes the purchasing and selling of manufactured products and services which take place in exchange for currency.

There are many businesses in the world with different purposes and reasons. The owners of the businesses decide upon the vision and work in order to achieve that vision.

Since then, Frank and Bridge Books is a book distributor with 30 physical bookstores in addition to a sizable online presence. A good example of a click-and-mortar company is Frank and Bridge Books. As a result, choice C is the best one.

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7 0
2 years ago
Geraldine Parker, the owner of Gi Grs Dance Studio, Inc., started the business by investing $10,000 cash and donating a building
lesantik [10]

Answer:

The correct option is B,common stock 30,000 cash 10,000 and building 20,000

Explanation:

Geraldine Parker's contributions  to the business -that is both cash and building are seen as his capital invested in the business.Invariably, it is assumed the new business owes Geraldine Parker the worth of resources invested

Appropriate double entries for the transaction  are shown below

Dr Cash              $10000

Dr Building          $20000

Cr Capital                           $30000

This is the capital as at the start of the business,it is also possible that Geraldine Parker contributes additional capital which adds to existing capital.

Also,the profits made increases the stake of the owner in the business and drawings  should e deducted from the capital  in case the owner withdraws cash or goods from the business.

6 0
3 years ago
From the 1970s through the 1990s, the relative price of a college education has increased greatly. During the same time period,
Gala2k [10]

Answer:

C) the demand curve for a college education has shifted rightward

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If college enrollment has also increased, it means the demand for college education has increased. The demand curve for a college education has shifted rightward.

I hope my answer helps you

3 0
3 years ago
1) Define JTA <br><br><br>please help<br>​
otez555 [7]

Answer:

The Full form of JTA is Job Task Analysis.

Explanation:

JTA) allows applications to perform distributed transactions, that is, transactions that access and update data on two or more networked computer resources.


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5 0
2 years ago
Read 2 more answers
Pharoah Company sells merchandise on account for $3600 to with credit terms of 2/14, n/30. Blue Spruce Corp. returns $600 of mer
aleksandr82 [10.1K]

Answer:

The journal entry to record the merchandise return and the payment should be:

Dr Cash 2,940

Dr Sales discount 60

Dr  Sales returns and allowances 600

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The second entry must be made to record the increase in inventory:

Dr Merchandise inventory 600

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Explanation:

The sales returns and allowances account is used to record returned merchandise, while the sales discount account is used to record discounts for early payments or other types of sales discounts.

3 0
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