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
Andrej [43]
3 years ago
6

g Required information [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized

Ernst Consulting; on October 3, the owner contributed $84,780 in assets in exchange for its common stock to launch the business. On October 31, the company’s records show the following items and amounts. Retained earnings, October 1 as $0. Cash $ 8,990 Cash dividends $ 2,830 Accounts receivable 16,540 Consulting revenue 16,540 Office supplies 3,930 Rent expense 4,300 Land 45,980 Salaries expense 7,740 Office equipment 18,660 Telephone expense 850 Accounts payable 9,170 Miscellaneous expenses 670 Common stock 84,780 Using the above information prepare an October income statement for the business.
Business
1 answer:
sweet [91]3 years ago
6 0

Answer:

Please see details below:

Explanation:

Sales  $16.540  

Salaries Expenses  -$7.740

Miscellaneous Expenses -$5.820  

Net Income       $2.980  

Dividends  2.830  

Retained Earnings $150.

Balance Sheets

Assets  

Cash  $8.990  

Accounts Receivable  $16.540  

Equipment  $22.590  

Land  $45.980  

TOTAL ASSETS   $94.100  

Liabilities  

Accounts Payable    $9.170

TOTAL LIABILITIES   9.170  

Equity  

Common Stock   $84.780  

Retained Earnings  $ 150  

TOTAL EQUITY   84.930  

 

You might be interested in
Consumer education focuses heavily on a product’s
Tasya [4]
The answer is B- prices
6 0
3 years ago
The Statement of Net Position of South State University, a government-owned university, as of the end of its fiscal year June 30
alexandr402 [8]

Answer:

Explanation:

Base on the scenario been described in this question, we can use the following method to be solve the question below using Microsoft word we have the solution in the image attached file below

5 0
3 years ago
During 2017 the inflation rate increased slightly but remained in the​ "comfort zone" and the unemployment rate was low. Why mig
goblinko [34]

Answer:B It thought that unemployment was a greater problem than the rising inflation rate

Explanation:

Inflation is the continuous rise in price of goods and services which is as a result of large volume of money in circulation used for the few available goods and services.

Unemployment is a situation where all that are willing and capable of being employed are unable to get employment.

In the above scenario lowering Interest rates will increase the volume of money in circulation which will invariably increase inflation and we equally increase level of investment as the cost of fund will be cheaper thereby lowering unemployment.

This action means unemployment is of greater problem than rising inflation.

It does not mean inflation is of more concern than unemployment otherwise it will have increase the interest rate, it will make loanable fund demanded to exceed supply and the quantity of money in supply will increase.

7 0
3 years ago
What phrase describes businesses who develop a positive relationship to<br> society
Free_Kalibri [48]
Social responsibility
7 0
3 years ago
"Jordan's Ice Creams is strategically located near a university. After realizing that most of its customers, who are mostly stud
iragen [17]

Answer:

B. Broad differentiation strategy

Explanation:

Broad differentiation strategy -

It refers to the method to strategize the business or the product in a very unique and innovative manner , is referred to as broad differentiation strategy .

The method is done by trying to adapt new method to present their goods and services , add new features , tries to relate to the likes and dislikes of the consumers .

The method is very helpful for a larger company than for smaller one .

The method is helpful to increase the production of the company , and thereby the profit of the company increases .

Hence , from the given scenario of the question ,

The correct answer is B. Broad differentiation strategy .

6 0
3 years ago
Other questions:
  • You plan to buy a house in July 2019. The sale price is $350,000. You need to pay 20% down payments and borrow additional 80% fr
    13·1 answer
  • You hear on the news that the​ S&amp;P 500 was down 2.6 % today relative to the​ risk-free rate​ (the market's excess return was
    5·1 answer
  • What is a primary concern when planning wlan deployments within the government vertical market?
    9·1 answer
  • Abby and Bailey are partners who share income in the ratio of 2:1 and have capital balances of $60,000 and $30,000, respectively
    13·1 answer
  • What is the maximum fine that the Real Estate Commission can impose for a violation of commission rules?
    12·1 answer
  • Preferred stock which confers rights to prior periods' unpaid dividends even if they were not declared is called:
    13·1 answer
  • The Product Owner of a team was asked for a forecast for the completion of a product release. There were 140 story points worth
    9·1 answer
  • Gato Inc. had the following inventory situations to consider at January 31, its year-end. Identify which of the following items
    8·1 answer
  • Which of the following would not be considered an advantage of a sole proprietorship?
    6·1 answer
  • Disagreement about an employee’s performance as perceived by different sources is ____________ a problem.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!