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
Firlakuza [10]
2 years ago
10

The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $245,000; Sala

ries Expense, $104,000; Supplies Expense, $17,000; Rent Expense, $23,000; Depreciation Expense, $38,000; and Delivery Expense, $15,000. Prepare an income statement for the year ended December 31, 2021.

Business
1 answer:
Radda [10]2 years ago
7 0

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

Before preparing the income statement, we have to compute the net income or net loss for the given period which is shown below:

Net income = Service revenue - Salaries Expense - Supplies Expense - Rent Expense - Depreciation Expense - Delivery Expense

= $245,000 - $104,000 - $17,000 - $23,000 - $38,000 - $15,000

= $48,000

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

You might be interested in
g Banks advertise Group of answer choices the real interest rate, which is how fast the dollar value of savings grows. the real
Serhud [2]

Answer: The Nominal Interest rate, which is how fast the dollar value of savings grows

Explanation:

Banks advertise the Nominal Interest rate. This is the rate that measures purely, how much return is received or paid if one lends out money or borrows money respectively.

It is therefore the value at which savings grow.

It is not adjusted for inflation yet but when adjusted is called the REAL INTEREST RATE.

It is important to note that when Banks advertise the Nominal rate, it is not yet adjusted for fees or the compounding of interest.

3 0
3 years ago
Select cost information for seacrest enterprises is as follows: 1,000 units of output 5,000 units of output total cost/unit tota
nasty-shy [4]

Answer:

Not sure but I think is B. again not sure

Explanation:

3 0
3 years ago
Read 2 more answers
In which one of the following instances is rivalry among competing sellers notmore intense?
dimaraw [331]

Answer: E.When there are so many industry rivals that the impact of any one company's actions is spread thinly across all industry members

Explanation:

The more the number of players in an industry the more it gets congested and especially for the competing sellers. The decision for increasing or reducing price is met by follower firms to do the same thing. It gets less competitive because you know all the players in the industry would be following the same practices and doing the same thing.

7 0
3 years ago
If the exchange rate for canadian and u.s. dollars is 0.82777 to 1, this implies that 3 canadian dollars will buy ____ worth of
Delvig [45]
0.82777 Canadian dollars = 1 US dollars
1 Canadian dollar = (0.82777 /1.000) US dollars
3 Canadian dollars = ((0.82777 /1.000) x 3) = $2.48331
8 0
3 years ago
Assume a project has normal cash flows. according to the accept/reject rules, the project should be accepted if the?
True [87]

Assume a project has normal cash flows. According to the accept/reject rules, the project should be accepted if the: IRR exceeds the required return.

Internal rate of return (IRR) is a metric used in financial analysis to estimate the potential profitability of an investment. The IRR is the discount rate that drives the net present value (NPV) of all cash flows to zero in discounted cash flow analysts. This suggests that an expected angel investment IRR of at least 22% is considered a good IRR. The higher

the project's projected IRR and the higher the amount above its cost of capital, the more net cash the project brings to the firm. So in this case the project appears to be profitable and management should go ahead with it.

Learn more about IRR  here

brainly.com/question/15933534

#SPJ4

6 0
2 years ago
Other questions:
  • Pablo was reviewing the water bill for his carwash business and determined that the highest​ bill, $5,000, occurred in july when
    10·1 answer
  • True or false: a database transaction is recorded only when a change is written to a database.
    10·1 answer
  • Based on the problems you have seen so far at gearon, what type of crm applications will be most helpful to the company?
    9·2 answers
  • What factors might have caused the auditor to inappropriately accept the assertions by management that the vendor allowances sho
    7·1 answer
  • If employers do not require a(n) __________, performance appraisal ratings often do not match the normal distribution of a bell-
    10·1 answer
  • The Bigdrill company drills for oil, which it sells for $200 million to the Bigoil company to be made into gas. The Bigoil compa
    12·1 answer
  • What happens to the equilibrium price when supply goes down? A. The price goes up. B. The price goes down. C. The price stays th
    11·1 answer
  • Kirby subscribed to purchase 100 shares of stock to be issued by Globule, Inc., an already existing corporation. Globule accepte
    5·1 answer
  • You put up $80 at the beginning of the year for an investment. The value of the investment grows 2% and you earn a dividend of $
    9·1 answer
  • A marketing specialist works with an artist and a designer to develop new toys for children. sometimes conflict occurs when the
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!