All categories

3 years ago

Consider the following account balances of Smiths Corp. at the end of the year:

Business

1 answer:

Tems11 [23]3 years ago

8 0

Answer:

Interest revenue, rent expense and salaries expense

Explanation:

In the income statement, the total revenues and the total expenses are recorded.

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.

So, the categorization is shown below:

Interest revenue, rent expense and salaries expense

You might be interested in

Identify and discuss the skills that companies are looking for in managers.

SVEN [57.7K]

Answer:

The following are six essential management skills that any manager ought to possess for them to perform their duties:

Planning. Planning is a vital aspect within an organization. ...

Communication. Possessing great communication skills is crucial for a manager.

Decision-making. ...

Delegation. ...

Problem-solving. ...

Motivating.

5 0

2 years ago

What are the three legal forms of business organization? What are the advantages and disadvantages of each one

My name is Ann [436]

Answer:

Explanation:Three legal form of business organization

(1)sole proprietorship:-this is a one man business the PROPRIETOR. He runs the total affairs of the business

Advantages:-The owner has the final says

He enjoys all profits

Disadvantage:-the owner bears the loss alone.

His death can end the business..

(2)PARTNERSHIP:-It is a business owned by two or more people called partners..

advantages:-fund raising is easy..

They bring experience together..

Work load is shared.

Disadvantages:-profits is sheared..

Disagreement can set in and end the business

Death of some partners can end the business..

LIMITED LIABILITY COMPANY:-A limited liability company is a corporate structure whereby the owner are not personally liable for the company's debt or liabilities. Limited liability companies are hybrid entities that combines Tue characteristics of a corporation with those of a partnership or sole proprietorship..

Advantage:-transfer of ownership is easy..

Disadvantage:-exploitation of share holders..

7 0

3 years ago

Bloomfield Bakers accounts for its investment in Clor Confectionary under the equity method. Bloomfield carried the Clor investm

blagie [28]

Answer:

28%

Explanation:

let X = the percentage of ownership of Clor Confectionery

the investment account balance = $150,150 - X$20,500 + X75,650 = $165,550

$150,150 + X$55,150 = $165,550

X$55,150 = $15,400

X = $15,400 / $55,150 = 0.2792 = 27.92% ≈ 28%

6 0

2 years ago

What is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage?

hjlf

Answer:

Option 1 - the opportunity cost of leisure decreases as wages decrease.

Explanation:

The labour supply curve of any occupation will always be upward sloping because when wages, (the opportunity cost of leisure) rises, the more hours of leisure a staff will relinquish to do more work.

The opposite of this is true as seen in option 1 of the question.

Opportunity costs will reduce with a consequent reduction in average wages. When fewer people want to retain their employment due to decrease in wage rates, it would lead to a fall in demand for leisure.

6 0

3 years ago

Edward Dorsey is a part-time employee, and during the biweekly pay period he earned $395. In addition, he is being paid a bonus

Nastasia [14]

Answer

The answer and procedures of the exercise are attached in the following image.

Explanation

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

6 0

3 years ago