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Sergeu [11.5K]
3 years ago
6

The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses

for the year are listed below. The capital of the owner was $190,000 at April 1, the beginning of the current year. Mr. Thompson invested an additional $25,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $370 Accounts receivable 12,340 Office expense 560 Cash 32,990 Supplies 1,670 Fees earned 68,980 Wages expense 25,580 Land 65,000 Drawing 3,000 Building 143,670 Prepare an income statement for the current year ended March 31. Thompson Computer Services Income Statement For the Year Ended March 31
Business
1 answer:
pashok25 [27]3 years ago
3 0

Answer:

                          Thompson Computer Services

             Income statement  for the current year ended March 31.

            Particulars                            Amount

Fees Earned                                          $68,980

Expenses

Miscellaneous expense      $370

Office expense                    $560

Wages expense                  $25,580

Total Expenses                                      <u>$26,510</u>

NET INCOME                                         <u>$42.470</u>

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Answer: True

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Because the public utilities company is the sole provider of electricity within this market, they have no pressure or competition from other suppliers within the market. Therefore they have the market power to freely charge higher prices by limiting the supply of electricity. Or charge lower prices by over supplying electricity to consumers.

7 0
3 years ago
A manufacturer of prototyping equipment wants to have $3,000,000 available 10 years from now so that a new product line can be i
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Answer:

annual savings = future value / [(1 + r)ⁿ - 1 ] / n

annual savings = $3,000,000 / [(1 + 0.1)¹⁰ - 1 ] / 0.1

annual deposit = $188,236.18

Explanation:

this is an ordinary annuity

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periods = 10

using the future value of an annuity formula, annual deposit = future value / annuity factor

FV annuity factor, 10 periods, 10% = 15.937

annual deposit = $3,000,000 / 15.937 = $188,241.20

instead of using annuity factors, you can solve this equation:

annual deposit = future value / [(1 + r)ⁿ - 1 ] / n

annual deposit = $3,000,000 / [(1 + 0.1)¹⁰ - 1 ] / 0.1

annual deposit = $188,236.18

Both answers are very similar, the difference is only 0.00267%

8 0
3 years ago
If the market maker is willing to purchase the entire block of 1,500 shares from Amara and, from that block, resell 1,000 shares
NeTakaya

Answer:

$1,300

Explanation:

Calculation to determine what the market maker’s net profit from Brent’s transaction

First step is to calculate the bid-ask spread using this formula

Bid-ask spread=Ask price-Bid price

Let plug in the formula

Bid-ask spread=$31.80-$30.50

Bid-ask spread=$1.30

Now let calculate the Net profit

Using this formula

Net profit=Bid-ask spread*Shares resell

Net profit=$1.3 x 1000 shares

Net profit=$1,300

Therefore the market maker’s net profit from Brent’s transaction will be $1,300

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3 years ago
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Rzqust [24]

Answer:

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Any material purchased will be recorded in the Raw material inventory account. The option for the first blank is raw and second blank is material.

<h3>What is Inventory Account?</h3>

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The complete question is attached below.

The raw material inventory account is where all materials that will be used to create the final product are first registered.

Learn more about raw material here:

brainly.com/question/13376768

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