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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:

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Cobe Company has already manufactured 21,000 units of Product A at a cost of $15 per unit. The 21,000 units can be sold at this
bezimeni [28]

Answer and Explanation:

The computation is shown below;

Particulars                   Sell     process further  

sales                       $450,000      $1,209,000  

Relevant cost    

Process further cost $0               $290,000

Less: Total relevant cost  $0      $290,000  

Income                     $450,000      $629,000

Incremental income                          $179,000

The $1,372,000 is come from

= 5,800 units × $105 + 12,000 units × $50

= $609,000 + $600,000

= $1,209,000

Hence, the company should process further

7 0
2 years ago
Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation
jarptica [38.1K]

Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation insurance premium rate of 0.6% is paid at the beginning of each quarter required: Calculate the estimated cost of workers' compensation insurance for the year.

Answer:

$504 per year

$126 per quarter

Explanation:

workers' compensation insurance = payroll x insurance rate.

$84,000 x 0.6%

$84,000 x 0.006 = $504 per year

$504 ÷ 4 = $126 per quarter

5 0
3 years ago
Brainleist What Does Success Look Like After You've Been on the Job Six Months?
stiks02 [169]

Answer:

it depends on the job and if you are experienced, If you get a job that pays 15$ an hour then you whould be at a good start

7 0
3 years ago
Read 2 more answers
Consider the following​ alternatives: i. $ 140 received in one year ii. $ 240 received in five years iii. $ 350 received in 10 y
Svetradugi [14.3K]

Answer:

Ranking 10% interest rate:

1) 5 years

2) 10 years

3) 1 year

Raking 2% interest rate:

1) 10 years

2) 5 years

3) 1 year

Raking 18% interest rate:

1) 1 year

2) 5 years

3) 10 years

Explanation:

You have to apply to bring the amount of money to present value, according with the information, the formula is the next:

Present Value = Future Value/((1+ interest rate)^(n))

Where n is the number of years that you have to wait to receive the money.

You have to calculate every situation with the respective amount of time and interest rate, the result must be money. and when you get the 9 results, you have to compare every situation and chose the higher amount of money according to the interest rate, for example:

Present value = 140/ ((1+10%)^(1))=  127    

                       =  140/ ((1+10%)^(5))=   149    

                        =  140/ ((1+10%)^(5))=   135

So the answer for the first scenario with an interest rate of 10% is:  

Ranking 10% interest rate:

1) 5 years

2) 10 years

3) 1 year

5 0
3 years ago
Susan had to go buy school supplies. While she was out, she decided to buy some new items for her bedroom as well. her credit li
Vsevolod [243]

Answer: Over the limit fee

Explanation: This is because since she did not pay the 75 dollars the previous month it rolls over to this month in which she has already spent 180 dollars and her limit is 200 dollars so adding 75 to that 180 dollars would be over the limit, so she would have to pay a fee.

4 0
2 years ago
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