1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rus_ich [418]
3 years ago
6

The Computer Store had the following revenue and expenses during the month ended July 31. Fees for computer repairs $ 41,600 Adv

ertising expense 5,700 Salaries expense 18,500 Telephone expense 850 Fees for printer repairs 5,950 Utilities expense 1,300 Did the firm earn a net income or incur a net loss for the period? What was the amount?
Business
1 answer:
RideAnS [48]3 years ago
8 0

Answer:

Net profit= $21200

Explanation:

Giving the following information we need to calculate the net profit or loss:

Revenues:

Fees for computer repairs $ 41,600

Fees for printer repairs 5,950

Total revenues= 47550

Expenses: (-)

Advertising expense 5,700

Salaries expense 18,500

Telephone expense 850

Utilities expense 1,300

Total expense= 26350 (-)

Net profit= 21200

You might be interested in
Operating activities include long-term borrowing and repaying cash from lenders, and cash investments by or dividends paid to st
Phantasy [73]

Answer:

False (B)

Explanation:

Long-term borrowing & repaying cash from lenders

Long-term borrowing will be classified under financing activities as it represents capital sourced from loan investors (e.g Bondholders,Banks e.t.c). As for repaying cash from lenders, capital repayment will be classified under financing activities while interest is recognized either under operating or financing activity.

Cash investments by or dividends paid to stockholders.

Cash investment by stockholders will be categorized under financing activities while dividend paid can either be categorized as operating or financing activity.

4 0
3 years ago
If a seller requires an intermediary to purchase a supplementary product to qualify to purchase the primary product the intermed
Mashcka [7]

Answer:

A Tying Contract

Explanation:

If a seller requires an intermediary to purchase a supplementary product to qualify to purchase the primary product the intermediary wishes to buy, it results in a tying contract. It is mostly treated as an illegal because it pushes  intermediary organization to buy other products if they wishes to purchase the products which is actually needed to be purchased. Some companies make it compulsory for their intermediaries in doing so. For example, if you have to buy 10 packs of Lays, then you must be buying 5 extra boxes of Pepsi as well. It is being done because of the power and market share that company is enjoying in the market, so they take its advantage.

7 0
3 years ago
Which budgetary category changed the most between your old budget and your new budget? Why?
Sunny_sXe [5.5K]

Answer:

The net savings changed the most, and this is because of the extra money coming in via total income. An extra $290.00 was added to the category.

Explanation:

7 0
2 years ago
Tri Fecta, a partnership, had revenues of $367,000 in its first year of operations. The partnership has not collected on $45,800
inessss [21]

Answer:<em> </em><em>$ 155,440</em>

Explanation:

Receipt:  

Cash received from customer(367,000 - 45,800)           321,200

Investment                                                                           47,000

Borrowed money                                                                26,000

Total Receipts                                                                   394,200

Disbursement:  

Payment to vendor(240,000 - 39,600)                           200,400

Salary                                                                                   26,200

Interest                                                                                   2,860

Insurance policy                                                                     9,300

Total Disbursement (B)                                                       238,760

Cash balance (A - B)                                                            155,440

7 0
3 years ago
Your financial analyst calculated the following ratios for three companies: Boeing Microsoft PG&amp;E Cash ratio 0.15 0.1 0.1 Cu
MaRussiya [10]

Answer: Not necessarily: The debt ratios are not directly comparable, since each company is in a different industry.

Explanation:

We cannot authoritatively state that even though Boeing has such a high debt rate, that it is a riskier company than either Microsoft or PG&E. This is due to the drawback in ratio analysis of bias if compared across different industries.

Ratio analysis best works when comparing companies in the same industry because their situations will be similar. Comparing across industries can be misleading because different industries operate in different ways. In the Airplane manufacturing business for instance, having a high amount of debt due to having the tangible assets to back it up might be a normal thing.

The debt ratios are therefore not directly comparable because each company is in a different industry.

7 0
3 years ago
Other questions:
  • What is the difference between a layoff and being fired?
    8·2 answers
  • Brian lives in Denver and runs a business that sells pianos. In an average year, he receives $704,000 from selling pianos. Of th
    7·1 answer
  • Simko Company issued $750,000, 8-year, 6 percent bonds on January 1, 2018. The bonds were issued for $710,000. Interest is payab
    13·1 answer
  • Rest Well Hotel orally ordered 1,000 blankets monogrammed with its initials, RWH, from TriColor Textiles. TriColor had just fini
    5·1 answer
  • Senator Brown wants to increase taxes on people with high incomes and use the money to help the poor. Senator Johnson argues tha
    12·1 answer
  • For advertising strategies to be effective, they must work within the confines of the overall marketing strategy. T/F
    8·1 answer
  • Brody and tanya recently sold some land they owned for $200,000. they received the land five years ago as a wedding gift from br
    9·1 answer
  • Jefferson tutoring had the following payroll information on Feb 28:
    6·1 answer
  • Discuss and develop a theoretical network architecture for a small business in the area that wishes to expand into new facilitie
    7·1 answer
  • Bond interest is deducted from:
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!