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finlep [7]
2 years ago
12

Before any month-end adjustments are made, the net income of Bennett Company is $76,400. The following adjustments are necessary

: office supplies used, $3,200; services performed for clients but not yet recorded or collected, $3,680; interest accrued on note payable to bank, $3,080. After adjusting entries are made for the items listed above, Bennett Company's net income will be:
Business
1 answer:
enyata [817]2 years ago
7 0

Answer:

$ 73.800 is the adjusted net income

Explanation:

Net Income before adjustment                                                      $ 76,400

Adjustments for:

Supplies expense (increasing expense, reducing income)         $  (3.200)

Unrecorded Service Revenues (increasing net income)             $    3.680

Accrual of interest on note to bank

 (increasing expense, reducing income)                                      <u>$   (3.080)</u>

Adjusted net income                                                                      <u>$  73.800</u>                                              

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Explain how the political systems of countries differ. Explain how the economic systems of countries differ. Explain how the leg
KIM [24]
<h2>Every country operate in a different yet similar system of both political and social affairs.</h2>

Explanation:

Every country operate in a different yet similar system of both political and social affairs. In terms of political differences, some countries have parliamentary governments while some countries like the US have presidential governments.

Regardless of how each country operate politically, most of the operational system of these countries are embedded in democracy and the general welfare of its citizens. The differences occur because of these operational systems of each country. They could differ in policies, reforms or laws which are based on the interests of its people and the nation.

In economic terms, the differences occur when governments prioritize what economic policies or model they choose to implement. Economic systems of a country change according to the need of the times. For instance,  China initially, after its independence, chose to remain a closed economy until it reformed its policies in 1978 to finally open up the country.

Legal systems of countries differ from one another as every country use a civil law system based on its cultural, social, political and historical circumstances. For instance, in US each state has the power to establish its own legal procedures while in some country, every state must follow a uniform civil code.

As we know the political economy refers to both the political and economic systems of a country, management practice of national differences is important to taken into account before securing economic relations with another country. Management practice of national differences helps in finding favorable economic and political systems around the world for a country to make both economic and political partnership with.

6 0
3 years ago
You have borrowed $28,000 at an interest rate of 12% compounded annually. Equal payments will be made over a four-year period, w
Sloan [31]

Answer:

A = 28000 [\frac{0.12 (1.12)^4}{(1.12)^4 -1}]

A = 28000 [\frac{0.12*1.574}{1.574-1}]

A=28000*0.3292 = 9218.564

So then the annual pay would be $ 9218.564 for this case

Explanation:

For this question we can use the Equivalent annual value (A) given by the following expression:

A = PV [\frac{i (1+i)^t}{(1+i)^t -1}]

Where PV = 28000 represent the pesent value

i = 0.12 since the rate is yearly

t = 4 since we have 4 years to pay

So then we have everything to replace and we got:

A = 28000 [\frac{0.12 (1.12)^4}{(1.12)^4 -1}]

A = 28000 [\frac{0.12*1.574}{1.574-1}]

A=28000*0.3292 = 9218.564

So then the annual pay would be $ 9218.564 for this case

And this amount would be paid each year in order to pay all the money after 4 years.

6 0
3 years ago
The accountant for Walter Company is preparing the company's statement of cash flows for the fiscal year just ended. The followi
lapo4ka [179]

Answer:

$25,400

Explanation:

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

The movement in the retained earnings balance may be expressed as

Opening balance + net income - cash dividend paid = closing retained earnings balance

Cash dividend declared - Cash dividend paid =  Cash dividend payable

$49,000 - Cash dividend paid = $23,600

Cash dividend paid = $49,000 - $23,600

= $25,400

6 0
3 years ago
“formal evaluation could include testing the predictive capabilities of the models on observed data to see how effective and eff
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This is known as in-sample forecast. It estimated the model using all available data and then comparing it to the model's fixed values to the actual realizations. But, this method is known to attract an overly positive picture of the model's forecasting ability since common fitting algorithms tend to take pains to avoid big prediction errors and are also inclined to overfitting (mistaking noise for signal in the data).
7 0
3 years ago
Kelly works at an ice cream shop and observes that the number of people buying ice cream varies greatly from day to day.For a co
Murrr4er [49]

Answer:

B) use the observed data to form a hypothesis about ice cream buying behavior.

Explanation:

The scientific method is a research method where the first step is recognizing and identifying the problem ⇒ relevant information is obtained ⇒ a hypothesis is formulated ⇒ the hypothesis is tested.

In order for a research (that uses the scientific method) to be valid, the researcher must be able to duplicate the research process and obtain the same or similar results.

7 0
3 years ago
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