Answer:
Swifty Corporation
Retained Earnings Statement for the year ended December 31, 2017:
Net Income $15,787
Retained Earnings, January 1, 2017 17,000
Less Dividends (5,500)
Retained Earnings, Dec. 31, 2017 $27,287
Explanation:
a) Data and Calculation:
Service Revenue $36,300
less expenses:
Salaries and Wages Expense $14,700
Insurance Expense 1,830
Rent Expense 3,810
Supplies Expense 1,410
Depreciation Expense 800
Total expenses $22,550
Net income is supposed to be $13,750 and not $15,787.
The Retained Earnings Statement is prepared with the given net income of $15,787. It shows the movement in earnings and distribution to stockholders.
Answer:
The correct answer is :
- Debit seller $300;
- Credit buyer $300.
Explanation:
The interest of a mortgage is estimated by dividing the interest rate by the days of the year and after that, the outcome has to be multiplied by the outstanding one. This interest can be the same amount every day of the same month. Normally, the amount due the lender is calculated a month at a time.
The correct answer is D. decreasing inventory to lower costs
If you decrease inventory, then you don't have trapped money. If someone needs something, you can then order the things you need from your supplier and then sell it to the people who ordered it.
In the scenario above, the technology that Abdul used is an
example of voice mail communication. This method is employed by having voice
messages to be stored in an electronic manner in which is intended to be
retrieved by those recipients who are going to contact the person using this
method.
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