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
Oliga [24]
4 years ago
10

The account balances and income statement of Winfrey Towing Service on June 30, 2018, follow:

Business
1 answer:
Alina [70]4 years ago
7 0

Answer:

1. WINFREY TOWING SERVICE

Statement of Comprehensive Income

                                           $

Service revenue               10,800

Rent expense                    (550)

Salaries expense              (1,900)

Dividends paid                  <u>(4,000)</u>

Net income                        <u> 4,350</u>

Statement of Retained Earnings

                                             $

Retained earnings b/f      3,900

Add: Net income               4,350

Retained earnings c/f       8,250

2. Statement of retained earnings report changes in retained earnings of a company in a given accounting year.

Explanation:

In this question, we need to obtain the net income of the company, which  is service revenue minus expenses minus dividend. Then, the statement of retained earnings is prepared by taking cognisance of the retained earnings brought forward and add the net income for the year.

You might be interested in
1. Raphael pays Better Buy $800 to for a new high-definition television (HDTV) and its installation. He's attracted by Better Bu
dsp73

Answer:

A. Raphael spend $800

B.$800

C.VALUE ADDED

Explanation:

A. The amount of $800 is the amount that would be included in the expenditure method reason been that Rapheal used the amount of $800 to pay for a new high-definition television (HDTV) as well as its installation

B. The total contribution to GDP which is measured by the expenditure method, is the amount of $800 calculated as :

The Stages of Production; The Sale Value - The Cost of Intermediate Goods = VALUE ADDED

The Home Station $50 - $0 = $50

Firedog $650 -$50 =$600

Better Buy $800- $650=$150

TOTAL $800

($50+$600+$150)

C.The contribution to GDP that you found using the expenditure approach corresponds to the sum of the VALUE ADDED at each stage of production

8 0
3 years ago
VOTE TOM NOOK FOR PRESIDENT FOR 2024
algol13

:0

yas I will vote him!

lol

wait..no! He will just take our money. My answer is a maybe.

5 0
3 years ago
Read 2 more answers
When a government introduces regulations addressing worker safety and environmental protection, it affects businesses and consum
nadya68 [22]
The answer to the first one would be higher costs and the answer to the second would be more i hope this is right and helps you 

5 0
3 years ago
Read 2 more answers
Which of the following are assumptions of the simple CAPM model? I. Individual trades of investors do not affect a stock's price
lisabon 2012 [21]

Answer:

I, II, and III are all correct and part of this model

Explanation:

The CAPM model or Capital Asset Pricing Model indicates the relationship between the amount of risk and the expected profit for a certain investment. This model holds many assumptions, which from the ones provided we can say that assumptions I, II, and III are all correct and part of this model. The only assumption that is not correct is IV, since the level of risk aversion that each investor has depends on how much they know about their investment.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0
3 years ago
Jennifer's income is too high to qualify for the credit on Form 8880, Credit for Qualified Retirement Savings Contributions.A. T
a_sh-v [17]

Answer:

given statement is true

Explanation:

solution

the given statement is true because  

by encouraging, people of the lower income is contributing to their retirement savings account.  

and IRS offers a tax credit for contributions to them for claim the retirement savings credit

so  Jennifer must use IRS form 8880

and credit percentage decreases as the as AGI increases

so we can say given statement is true

3 0
3 years ago
Other questions:
  • On October 15, 2020, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On J
    13·1 answer
  • The government has the ability to influence the level of output in the short run using monetary and fiscal policy. There is some
    15·1 answer
  • What positive qualities of a human resources professional help her or him explain company policies
    13·1 answer
  • If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, pho
    14·1 answer
  • Failure to prepare an adjusting entry at the end of a period to record an accrued revenue would cause:A)net income to be oversta
    8·1 answer
  • The current sections of Culver Corporation's balance sheets at December 31, 2021 and 2022, are presented here. Culver Corporatio
    7·1 answer
  • Explain why accurate measurement is so important in baking.
    7·1 answer
  • Identify each of the following transactions as:Operating activity (O)Investing activity (I)Financing activity (F)Noncash investi
    11·1 answer
  • Is it good or bad to have lots of layers in a business<br> and why? What can be done?
    14·1 answer
  • If someone thinks that their language is superior to others, it can cause defensiveness. In this case, what style should be used
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!