Question Completion:
Cash received from bank loans was $10,000.
Revenues earned and received in cash were $9,000.
Dividends of $4,000 were paid to stockholders.
Expenses incurred and paid were $5,600.
Answer:
Jiminez, Inc.
Income Statement for the month ended March 31:
Revenue $9,000
Expenses 5,600
Net income $3,400
Dividends 4,000
Retained earnings during the year ($600)
Explanation:
Jiminez, Inc. paid more dividends to stockholders this month than it actually generated in net income. The excess amount of dividends must be from retained earnings carried forward from the previous month. In preparing the income statement for the month of March, Jiminez, Inc. must deduct all the expenses from its revenue to obtain the net income before tax. The bank loan does not form part of the items for the preparation of the income statement, as only temporary accounts are considered.
<span>When a manager leaves his or her job to accept a job at another organization, the organization left behind is experiencing 'attrition'. Attrition means the reduction in employees in a company due to retirement and resignation. It may cause loss of employee talent and increased competition with rival companies.</span>
Answer:
small; standardized; little or no
Explanation:
A perfect competition is when there are many firms in an industry selling standardised or identical goods and services. It is characterised by many buyers and sellers . Sellers have small market share because of the large number of sellers in the market. Prices are usually set by market forces. Sellers cannot influence the price their products sell for , therefore, they are price takers.
There is little or no need for advertising as all firms sell identical goods.
I hope my answer helps you.
Answer:
1
Db Salaries expenses__4000
Cr Accrued salaries__________4000
Accrued on December 31
Explanation:
Accrued salaries refers to the amount of liability remaining at the end of a reporting period for salaries that have been earned by employees but not yet paid to them.
Weekly payroll 5000
Day payroll 1000
Monday-Thursday 4000
1
Db Salaries expenses__4000
Cr Accrued salaries__________4000
Accrued on December 31
