Answer:
$80,000
Explanation:
Calculation for the net income for Dana's Dress Shop using the traditional format
NET INCOME USING TRADITIONAL FORMAT
Using this formula
NET INCOME=Gross Margin -Total Selling & Administrative Expenses
Where,
Gross Margin =$140,000
Total Selling & Administrative Expenses=$60,000
Let plug in the formula
NET INCOME=$140,000-$60,000
NET INCOME=$80,000
Therefore the NET INCOME will be $80,000.
Answer:
of good title.
Explanation:
A good can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a good are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks, etc.
A warranty can be defined as a written promise or guarantee made by a manufacturer, lessor or seller about the identity or quality of goods and services or a property to a purchaser, promising him or her to repair or replace it if necessary within a specified time frame.
Hence, a warranty in which the seller of a good or service warrants that he or she has valid title to the goods he or she is selling and that the transfer of title is rightful is known as a warranty of good title.
A legal title can be defined as the actual (absolute) ownership of a property that is recognized and enforceable in a court of competent jurisdiction.
Answer:
We use the accounting equation to identify what a company owns and owes. <u>Assets </u>are resources a company owns or controls, <u>Liabilities </u> are claims creditors have against a company’s assets, and <u>Equity </u>is the owner’s claim on a company’s assets.
Explanation:
The accounting equation reads as Assets = Liabilities plus Equity.
The accounting equation forms the basis for preparing the balance sheet and the double-entry accounting system. When well prepared, the assets side should balance with liabilities and equity.
Answer:
supporting facts
Explanation:
A business message with strong reasoning has as main objectives to convince a consumer to close a deal or an employee to perform certain tasks for example, the objective is always to support an idea and positively impact and convince the public of something.
Therefore, the most suitable option for a business message with strong reasoning is to use supporting facts, as the recipient of the message will feel much more transparency and security when believing in your message if it is supported by concrete facts that support it, and this can be a strong argument to strengthen and reaffirm your idea so that it is more convincing and supported.
Answer:
Amount of interest revenue recognized 
Explanation:
Principal amount P = $88500
Rate of interest r = 7 %
Total number of days = 120
So interest 
Number of days from 8 june to 30 june = 30-8 = 22 days
So left days = 120-22 = 98 days
So amount of interest revenue recognized
