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
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

You might be interested in
The pricing strategy used by companies manufacturing or selling designer apparel custom jewelry and exclusive paintings is refer
a_sh-v [17]

Answer : Premium Pricing.

Companies manufacturing or selling designer apparel, custom jewellery or exclusive paintings usually have a unique brand. These companies usually have their own signature brands that have a big competitive advantage. Hence they charge higher prices.

8 0
3 years ago
​________ is the extent to which a selection tool produces consistent results over time.
shusha [124]
This answer would be reliability.
6 0
3 years ago
WILL MARK BRAINLIST... I'm trying to think of an acronym for BOSS. I've already come up with one. The acronyms have to be extrem
azamat

Answer:

Base Operating Supply System

Explanation:

lol

5 0
3 years ago
The "Four C's of Credit" are
White raven [17]
Credit, capacity, collateral, and capital
7 0
2 years ago
National Bank quotes the following for the British pound and the New Zealand dollar: Quoted Bid Price Quoted Ask Price Value of
Snowcat [4.5K]

Answer:

$15.43

Explanation:

Following actions are required for triangular arbitrage:

Available: $ 10,000

Buy sterling pound @ 1 $ = 1.62 pounds and receive pounds 6172.84 upon conversion.

Now, sell these pounds and purchase NZ $ at the rate :

1 pound = NZ $ 2.95 and receive NZ$ 18209.87

Now, reconvert the above proceeds into US $ at the rate

1 NZ $ = $0.55 i.e sell NZ $ at this rate and receive US $ 10,015.4285

Hence profit from implementing triangular arbitrage is $10,015.43 - $10,000

= $15.43

Arbitrage refers to the prospect of earning a profit by utilizing the mispricing in two different financial markets. An arbitrageur never uses his own funds and always borrows.

Arbitrage works only in the scenario wherein the interest rate purchase parity (IRPT) does not hold good.

The strategy of arbitrage is best explained as "Buy at low price and sell at a high price".

 

7 0
3 years ago
Other questions:
  • Spencer Chemical Corporation produces an oil-based chemical product which it sells to paint manufacturers. In 2019, the company
    11·1 answer
  • ________ offer accounting services to the public and are licensed at the state level.
    6·1 answer
  • A clothing company is considering raises for employees. The raises are based on job performance. Based on the table, which emplo
    14·2 answers
  • Intricate Wiring Corp., based in Ohio, creates a brand new high-tech product. The demand for the product in the United States is
    11·1 answer
  • Which of the following inventory valuation methods produce(s) the same dollar amount as the balance in ending inventory under bo
    8·1 answer
  • A discontinuous innovation is a product that:___________
    10·2 answers
  • An object that formerly was personal property but has become real property:
    10·1 answer
  • Most job leads are discovered through____?
    12·1 answer
  • Please help me. I will mark you as brainliest !!
    10·1 answer
  • What would be a good business to start with a friend?<br> (Explanation not needed.)
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!