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
Debora [2.8K]
3 years ago
13

The following account balances were taken from the adjusted trial balance for Laser Messenger Service, a delivery service firm,

for the fiscal year ended April 30, 2019: Depreciation Expense $8,550 Fees Earned 684,000 Insurance Expense 1,200 Miscellaneous Expense 3,600 Rent Expense 60,000 Salaries Expense 336,300 Supplies Expense 3,500 Utilities Expense 41,800 Prepare an income statement. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the Chart of Accounts for exact wording of account titles. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement.
Business
1 answer:
Debora [2.8K]3 years ago
3 0

Answer:

<u>Income Statement for the year ended April 30,2019</u>

Particulars             Amount($)        Amount($)

<u>Revenues</u>  

Fees earned                                  $684000

<u>Expenses</u>  

Depreciation             $8550  

Insurance             $1200  

Miscellaneous     $3600  

Rent                     $60000  

Salaries                     $336300  

Supplies                     $3500  

Utilities                     $41800  

Total expenses                           ($454950)

Net income                                    $229050.

Explanation:

You might be interested in
If beginning work in process is 3,900 units, ending work in process is 3,700 units, and the units accounted for equals 11,200 un
Citrus2011 [14]

Answer:

started units 7,300

Explanation:

beginning WIP   3,900

started into production X

this sum should equal the amount for units accounted for

11,200 - 3,900 = 7,300 started units

The ending WIP and the trasnferred-out represent the units to be assigned for

4 0
3 years ago
Potter Industries has a bond issue outstanding with an annual coupon of 6% and a 10-year maturity. The par value of the bond is
kirill115 [55]

The value of the bond is $865.80.

<h3>What is a bond?</h3>

A bond is a debt instrument used to raise capital. Bondholders receive periodic interest payment. At the maturity of the bond, the bondholders receive the amount invested.

<h3>What is the value of the bond?</h3>

The value of the bond can be determined by calculating the present value of the bond. The present value is the sum of the discounted cash flows.

Present value = (60 / 1.08) +  (60 / 1.08^2) +  (60 / 1.08^3) +  (60 / 1.08^4) +  (60 / 1.08^5) +  (60 / 1.08^6) +  (60 / 1.08^7) +  (60 / 1.08^8) +  (60 / 1.08^9) +  (60 / 1.08^10) +  (1000 / 1.08^10) = $865.80

To learn more about present value, please check: brainly.com/question/25748668

5 0
3 years ago
True or false a culinarian is who has studied and continues to study the art of cooking
Vika [28.1K]
True! culinarian comes from the root word 'culinary'
3 0
3 years ago
Simon Company had the following summarized operations for the month of May: Revenues earned: for cash, $32,000; and on account,
AlladinOne [14]

Answer:

$35,000

Explanation:

Given that,

Revenues earned:

cash = $32,000

on account = $18,000

Expenses incurred:

cash = $5,000

on account = $10,000

Net Income:

= Income - Expenses

= (Cash revenue + account revenue) - (cash expenses + Expenses on account)

= ($32,000 + $18,000) - ($5,000 + $10,000)

= $35,000

Therefore, the net income for the month of May is $35,000.

7 0
3 years ago
Artists often use ____________ to create small and intimate works because the paints are easy to carry and only require a glass
Mazyrski [523]
Artists often use WATERCOLORS to create small and intimate works because the paints are easy to carry and only requires a glass of water. Watercolor is made up of pigment in a vehicle of water and gum Arabic, which is a sticky plant substance that acts as the binder. The most common support for watercolor is paper. Watercolors could readily be taken on outdoor sketching expeditions and are particularly preferred by amateur artists.<span />
4 0
4 years ago
Other questions:
  • What does it mean to adopt a maturity matching approach to financing assets, including current assets? How would a more aggressi
    8·1 answer
  • A second job interview would most likely be in which stage of knapp's relational model? integrating intensifying bonding experim
    8·1 answer
  • The Digby's workforce complement will grow by 20% (rounded to the nearest person) next year. Ignoring downsizing from automating
    14·1 answer
  • What is meant by centralised direction?
    7·1 answer
  • Setting a price ceiling below the equilibrium price can result in:
    11·1 answer
  • When rebuilding a steering system, a can of bolts and nuts was somehow lost. Technician A says to simply go to the hardware stor
    12·1 answer
  • Freulia Inc. manufactures and sells stationery and office supplies. It is beginning to lose its competitive advantage with the e
    12·1 answer
  • During the recent financial crisis many workers lost their jobs. Amy, for example, lost her job as a pharmaceutical salesperson.
    13·1 answer
  • You are comparing two companies in the same industry. You have determined that Gore Corp. depreciates its plant assets over a 40
    9·1 answer
  • Suppose a drought in australia has seriously impaired agricultural productivity. How would that impairment in productivity affec
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!