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fgiga [73]
3 years ago
6

A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income f

or the current period?Unadjusted Trial Balance AdjustmentsDebit Credit Debit CreditCash 1,975Accounts Receivable 1,000 875Prepaid insurance 1,600 650Supplies 330 115Equipment 8,320Accumulated depreciation—equipment 720 190Accounts payable 1,140Owner, Capital 9,110Owner, Withdrawals 1,050Fees earned 7,250 875Rent expense 1,300Salaries expense 2,300Utilities expense 345Insurance expense 650Supplies expense 115Depreciation expense—equipment 190Totals 18,220 18,220 1,830 1,830
Business
1 answer:
lbvjy [14]3 years ago
3 0

Answer:

Net income for the current period is $2,350.

Explanation:

Calculation of Net Income for the Current Period.

                                                                    $               $

Fees earned                                                             7,250

Less Expenses :

Rent expense                                           1,300

Salaries expense                                     2,300

Utilities expense                                         345

Insurance expense                                    650

Supplies expense                                        115

Depreciation expense—equipment          190   (4,900)

Net Income / (Loss)                                              2,350

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Your favorite ice cream travels from the producer, who manufacturers the product, through several other organizations before arr
malfutka [58]

This set of organizations called Marketing channel

Explanation:

A marketing channel is used to move the control of goods from either the point of origin to the place of purchase by individuals, organizations and acts. The way goods meet the customer, the end-user, is however known as a sales channel.

Marketing channels allow organisations to increase their scope and profits. Each communications platform, though, offers a different visibility and output ratio, so that it can be combined together. Current delivery structures–like manufacturer, wholesaler and seller–or versions that include one or two parts, can be part of marketing networks.

For example, companies such as Dell and Avon prohibit wholesalers and retailers from marketing to customers with their own stores and salespeople.

5 0
3 years ago
When both parties to a contract are mistaken as to the same material fact either paarty can rescind the contract?
crimeas [40]
I took this question already, so if it was 
<span>
Often, when both parties to a contract are mistaken as to the same material fact, either party can rescind the contract.

It would be "True"

</span>
6 0
3 years ago
When determining the value of raw land, there is a relatively fixed amount of _________; therefore, the value of land is primari
Ilya [14]
<span>When determining the value of raw land, there is a relatively fixed amount of supply; therefore, the value of land is primarily determined by demand?

Because land isn't something we can just add in to the world, there is a fixed amount of supply available to us as a resource. When the supply becomes scarce, it is easy for the value of land to go up because if demand is high and there is a low amount the price can be higher since there is less competition of the same. </span>
7 0
3 years ago
Computing Income Taxes
Anastaziya [24]

Answer:

The​ corporation's tax liability is $ 228,820.

Explanation:

To calculate tax liability we first have to find net profit. Detail calculation is given below.

<u><em>Net profit Calculation</em></u>

Sales                                                                                 $ 3,130,000

cost of goods sold and the operating expenses          ($ 2,080,000)

Interest expense                                                              ( $ 377,000)

Net profit                                                                           $ 673,000

<u><em>Tax liability Calculation</em></u>

Income fall under Tax bracket of  34%  ($75,001 to ​$10,000,0000 for corporate tax. No additional surtax will be charged as income do not fall under its net.

Tax liabilty = 673,000 * 34% = $ 228,820

​

5 0
3 years ago
_____ requires coordination among government departments and agencies, as well as cooperation toward common objectives across co
o-na [289]

"Unity of effort" requires coordination among government departments and agencies, as well as cooperation toward common objectives across commands.

<u>Answer:</u> Option C

<u>Explanation:</u>

At the national level the unity of effort is basically a cooperative effort involving a number of departments and agencies of the United States Government. "Unity of effort" is about teamwork and collaboration directed towards common goals although participants do not generally form part of the same command or organisation that is the result of effective unified action.

The aim of promoting cohesion of action is to generate a ellaborative consensus approach while applying national power instruments towards common goals. The unity of  effort is a continuous process which demand constant effort to sustain inter-organizational  relationships.

3 0
3 years ago
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