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
Novay_Z [31]
3 years ago
12

As of December 31, 2017, Armani Company s financial records show the following items and amounts Cash ..........................

............................ $10,000 Accounts receivable .................................... 9,000 Supplies ................................................... 6,000 Equipment ................................................ 5,000 Accounts payable ........................................ 23,000 A. Armani, Capital, Dec. 31, 2016 .................... 4,000 A. Armani, Capital, Dec. 31, 2017 .................... 7,000 A. Armani, Withdrawals .............................. 13,000 Consulting revenue .................................... 33,000 Rental revenue .......................................... 22,000 Salaries expense ........................................ 20,000 Rent expense ............................................ 12,000 Selling and administrative expenses ............... 8,000 Required Prepare the 2017 year-end income statement for Armani Company. Prepare the 2017 year-end income statement for Armani Company.
Business
1 answer:
Leviafan [203]3 years ago
6 0

Answer:

Explanation:

The preparation of the year-end 2017 income statement for Armani Company is shown below:

                                        Armani Company

                                      Income statement

Revenue

Consulting revenue   $33,000

Rental revenue $22,000

Total revenues $55,000 (A)

LESS: Expenses

Salaries expense $20,000

Rent expense $12,000

Selling and administrative expenses $8,000

Total expenses $40,000 (B)

Net income $15,000 (A- B)

You might be interested in
In economics what helps boost the standard of living and is thus the goal of most countries
cricket20 [7]
In macroeconomics, the goal is to increase the GDP of the country's economy. This is one of the goals in socioeconomic aspect. However, others would include infrastructure, exportation of goods and investors.Thank you for your question. Please don't hesitate to ask in Brainly your queries. 
3 0
3 years ago
Read 2 more answers
Antoine recently received an email from a fraudulent organization that sought his personal financial account information. Recogn
Airida [17]

Answer:

The answer is: Phishing

Explanation:

Phishing is carried out by individuals who are trying to scan users. This is done by sending emails to try to collect someone else's credit card information, online banking accounts, or other type of login information. Phishing can also be done through web pages that are designed to illegally collect their users' information.

3 0
3 years ago
Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
Margarita [4]

Answer:

Total period cost under variable costing $60,000

Explanation:

The computation of the total period cost under variable costing is shown below:

Variable selling and administrative expenses (880 units × $15) $13,200

Add: Fixed selling and administrative expenses $21,120

Add: Fixed manufacturing overhead $25,680

Total period cost under variable costing $60,000

6 0
2 years ago
Relish Corp. is a famous fast food chain in the United States. However, increasing competition affects the company's market. Nic
Gwar [14]

Answer:

Participative leadership style

Explanation:

Path goal theory is a  leadership theory that specifies the leadership style that should be used in an organization to achieve a goal based on the employees and the working environment. The following steps are to be taken based on the path goal theory:

  1. Determine the employee and environmental uniqueness based on their needs.
  2. Selecting a leadership style and adjusting this style based on the employees need.
  3. Focusing on how to motivate the employee to achieve the goal

Participative leadership style is a style in which leaders involves their subordinates by asking them for suggestions before making a decision. This style is best used when subordinates are highly involved and trained.

8 0
3 years ago
Read 2 more answers
Bramble Corp. reported net sales of $248,700, cost of goods sold of $146,900, operating expenses of $58,000, net income of $39,9
juin [17]

Answer:

profit margin is 16.0 %

gross profit rate  is 39.6 %

Explanation:

given data

net sales = $248,700

cost of goods sold = $146,900

operating expenses = $58,000

net income = $39,900

beginning total assets = $473,900

ending total assets of $635,400

to find out

profit margin and gross profit rate

solution

we will apply here profit margin formula that is

profit margin = \frac{net income}{sale} * 100      ..............1

put here value

profit margin = \frac{39900}{248700} * 100  

profit margin = 16.04 = 16.0 %

and

gross profit rate formula is

gross profit rate  = \frac{sales - cost of good }{sale} * 100    ..............2

put here value

gross profit rate  = \frac{245700 - 146900}{248700} * 100

gross profit rate   is 39.72 = 39.6 %

5 0
3 years ago
Other questions:
  • People in a certain group have a 0.60​% chance of dying this year. If a person in this group buys a life insurance policy for ​$
    10·1 answer
  • Arnell Industries has $35 million in permanent debt outstanding. The firm will pay interest only on this debt. Arnell's marginal
    5·1 answer
  • What type of buying decision making is used when purchasing Dress pants and shirt? *
    13·1 answer
  • Describe a product that you think has saturated its market
    7·1 answer
  • Reynold's Company has a product with fixed costs of $309,000, a unit selling price of $24, and unit variable costs of $21. The b
    5·1 answer
  • On December 2, Year 1, Flint Corp.'s board of directors voted to discontinue operations of its frozen food division and to sell
    14·1 answer
  • The cash account for Norwegian Medical Co. at April 30 indicated a balance of $403,784. The bank statement indicated a balance o
    10·1 answer
  • A possible cause of favourable material price is
    12·1 answer
  • Which form of bankruptcy allows a debtor with a regular income to extinguish his or her debts from future earnings or other prop
    14·1 answer
  • Investment methods, such as net present value and internal rate of return, ________
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!