What is the primary goal of the As-Is process model? Group of answer choices

Beasley, Inc., reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 350,000 Income tax expe

lisov135 [29]

Answer and Explanation:

The preparation of the multiple-step income statement is presented below:

<u> Beasley, Inc.</u>

<u> Multiple-step income statement</u>

<u> December 31, 2021</u>

Sales revenue $350,000

Less: Cost of goods sold -$125,000

Gross profit $225,000

Less: Operating expenses

Salaries expense -$37,000

Advertising expense -$23,000

Utilities expense -$43,000

Operating income $122,000

Less: interest expense -$12,000

Income before income tax $110,000

Less: income tax expense -$39,000

Net income $71,000

We simply deduct all the expenses from the sales revenue so that the net income could arrive

7 0

3 years ago

For the year ended December 31, a company has revenues of $317,000 and expenses of $196,000. The company paid $50,000 in dividen

adoni [48]

Answer:

a. Debit Retained earnings $53,200; credit Dividends $53,200.

Explanation:

When we close the journal entries, we close all the temporary accounts such as revenues, expenses, and dividends. Closing means the balance of revenues, expenses, and dividends will be "0". To make "0" balance of any temporary accounts, we have to reverse the balance as normal balance. For example - Service revenue is a credit balance. If we close it, we have to make service revenue as a debit account. Similarly, to close the dividends account,

The journal entry to record the closing of dividends is -

Retained earnings (Debit)

Dividends (Credit)

5 0

3 years ago

Determine allison's december 31, 2018, investment in mathias balance.

bagirrra123 [75]

Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2017, in exchange for $6,059,500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias’s stockholders’ equity was $2,045,000 including retained earnings of $1,545,000

4 0

3 years ago

Kitchen Stories is all about baking and healthy cooking. It is a new cooking app that offers a world of recipes. With easy-to-fo

liberstina [14]

Kitchen Stories uses pioneer advertising because: it offers consumers in-depth information about the benefits of the product class.

<h3 /><h3>What is pioneer advertising?</h3>

Pioneer advertising can be defined as the way of creating awareness about a new product.

Pioneer advertising provide detailed information that a person need to know about a product as it help to educate customers about what a product entails.

Thefrefore it offers consumers in-depth information about the benefits of the product class.

Learn more about pioneer advertising here:brainly.com/question/27332147

#SPJ1

8 0

2 years ago

Patel Paving collected $1,000 cash in advance from a customer to provide paving services next month. The entry to record this ca

maks197457 [2]

The entry to record this cash receipt include <u>Credit to Unearned Paving Fees.</u>

A credit score is a trust which permits one party to offer money or assets to every other celebration in which the second birthday party no longer reimburses the primary party at once, but guarantees both to pay off or go back the one's sources at a later date.

Credit score ratings commonly vary from three hundred to 850. within that variety, rankings can commonly be placed into considered one of 5 classes: poor, fair, desirable, excellent, and superb.

A credit bureau maintains a month-on-month document of your payments toward your bills and loan compensation equated monthly installments for the beyond few years. normally by collating previous years' price history records, the credit bureau calculates your credit score rating.

Learn more about Credit here:-brainly.com/question/12200647

#SPJ4

6 0

1 year ago