Answer:
- All of the above
Explanation:
This is the best answer for this question because a poor credit score can result in difficulty finding a job, renting an apartment, and obtaining credit in the future. I didn't see anything about higher interest charges, but one can logically conclude that that would also be affected
Hope this helps(:
Most major forms of advertising contain both visual and verbal elements.
Answer:
$56,400
Explanation:
Jefferson company has a sales of $306,000
The cost of goods available for sale is $270,600
The first step is to calculate the gross profit
= 306,000 × 30/100
= 306,000 × 0.3
= 91,800
The cost of goods sold can be calculated as follows
= $306,000-91,800
= $214,200
Therefore the estimated cost of ending inventory under the gross profit method can be calculated as follows
= $270,600-214,200
= $56,400
Answer:
Smart Touch Learning
SMART TOUCH LEARNING Income Statement December 31, 2016
Service Revenue 42,500
Depreciation Expense--Furniture 1,800
Interest Expense 200
Rent Expense 2,800
Salaries Expense 3,200
Supplies Expense 700
Total Expenses 8,700
Net Income $33,800
Explanation:
a) Data and Calculations:
SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit
Cash 14,000
Accounts Receivable 7,700
Office Supplies 100
Prepaid Rent 9,300
Furniture 16,300
Accumulated Depreciation--Furniture 5,600
Accounts Payable 1,800
Salaries Payable 400
Interest Payable 200
Unearned Revenue 4,600
Notes Payable 6,500
Common Stock 9,100
Retained Earnings 9,300
Dividends 23,900
Service Revenue 42,500
Depreciation Expense--Furniture 1,800
Interest Expense 200
Rent Expense 2,800
Salaries Expense 3,200
Supplies Expense 700
Total 80,000 80,000
b) The income statement of Smart Touch Learning shows the difference between its revenue and expenses for a given accounting period. It is used to determine the net income that the company has generated over a particular period.
