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Kryger [21]
3 years ago
5

Charlene has a monthly salary of $3,410. With her present budget, Charlene has a net income that is 7% of her monthly salary. Ch

arlene is going to reduce her net income by $125 each month and put this money towards paying down her debt. What will Charlene’s new net income be? a. $113.70 b. $176.70 c. $229.95 d. $238.70 Please select the best answer from the choices provided A B C D
Business
1 answer:
Kipish [7]3 years ago
7 0

Answer:

a. $113.70

Explanation:

The computation of the new net income is shown below:

= Monthly salary × net income percentage - reduced amount of net income per month

= $3,410 × 7% - $125

= $113.70

Hence, the corrected net income is $113.70

Therefore the correct option is a. $113.70

All other options are wrong hence ignored them

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Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue
wariber [46]

Answer:

Accounting treatment (debit credit rules) of given entries

Explanation:

  • Purchased office furniture on account Account

Furniture ie Asset increase - Debit , Creditor (Furniture Supplier) ie Liability increase - Credit

  • Provided services on account

Debtor ie Asset increase - Debit , Sale ie Income increase - Credit

  • Prepaid Rent

Prepaid Expense (Rent) ie Asset Increase - Debit. Rent paid now implies later rent ie (Expense) decrease - Credit

7 0
2 years ago
According to the basic double entry principle of accounting, we
Vlad1618 [11]

Answer:

D. Any of the above, depending on the transactions​

Explanation:

The double entry principle simply means that any accounting transaction has two records: one credit, and one debit, and it depends on the nature of the transaction, and of the accounts involved which specific value is credited and which one is debited.

For example, if a firm purchases 100$ of office supplies with cash, the credited account is cash, because cash is reduced by $100, while the office supplies account is debited by the same value.

If a firm sells 100$ of office supplies instead, the office supplies inventory is credited for this value, while the same amount of cash is debited for this same amount.

8 0
3 years ago
A firm engages in a new type of financial transaction that has a material effect on its earnings. An analyst should most likely
slega [8]

Answer:

management has not explained its business purpose

Explanation:

Since in the question it is mentioned that the firm is engaged in the new financial transaction that contains the material impact on the earnings so this represents that it could be come under the pre existed accounting standards.

Also everyone should be aware of the business purpose plus it is not established for changing off the financial statements

So it would be suspicious because the purpose of the business could not be explained

4 0
3 years ago
Darby's company reported net income after taxes of $2,000,000, on sales of $225 million. her boss asked her to calculate the ear
Dafna1 [17]
Darby's correct response is $0.045 per share.
Because we can calculate earnings per share by taking net income after taxes and then dividing it by the total number of common shares that are issued.
Income after taxes = <span>$2,000,000
shares = $44,000,000
Earnings per share = $2,000,000 / $44,000,000
=$2/$44
=$0.045</span>
3 0
3 years ago
Becky was asked to divide a rectangle into 4 equal pieces and to shade one of those pieces. is becky right or not?
gayaneshka [121]
Need to see the picture
4 0
3 years ago
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