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
morpeh [17]
3 years ago
14

Below are the account balances for Cowboy Law Firm at the end of December. Accounts Balances Cash $ 4,800 Salaries expense 1,900

Accounts payable 2,800 Retained earnings 4,200 Utilities expense 1,200 Supplies 13,200 Service revenue 8,700 Common stock 5,400 Required: Use only the appropriate accounts to prepare an income statement.
Business
1 answer:
vovikov84 [41]3 years ago
6 0

Answer:

Service revenue                                                                  <u> $8,700</u>

Less: Expenses

       Salaries expense                             <u>$1,900</u>

       Utilities expense                              <u>$1,200</u>

Total expense (subtract from Service revenue )             <u> -</u><u>$3100</u>

Net Income (Service revenue -Total expense)          =    <u>  $5,600</u>

Explanation:

First Make the list of given quantities:

Cash=$4,800

Salaries expense=$1,900

Accounts payable=$2,800

Retained earnings=$4,200

Utilities expense=$1,200

Supplies=$13,200

Service revenue=$8,700

Common stock=$5,400

Income statement  is as follow:

Only Service revenue and expenses are used to find the net income.

Service revenue                                                                  <u> $8,700</u>

Less: Expenses

       Salaries expense                             <u>$1,900</u>

       Utilities expense                              <u>$1,200</u>

Total expense (subtract from Service revenue )             <u> -$3100</u>

Net Income (Service revenue -Total expense)          =    <u>  $5,600</u>

You might be interested in
what is the term that refers to the functions used to move products through the channel to the consumer?
Readme [11.4K]

The term that refers to the functions used to move products through the channel to the customer is distribution

5 0
2 years ago
Sheridan Company had the following transactions during the quarter end:
White raven [17]

Answer:

Payment of insurance premium include in last quarter = $204,000

Explanation:

Given:

Insurance premium during the year = $816,000

Number of quarter in the year = 4

Computation of payment include in last quarter:

Payment of insurance premium include in last quarter = Insurance premium during the year / Number of quarter in the year

Payment of insurance premium include in last quarter = $816,000 / 4

Payment of insurance premium include in last quarter = $204,000

8 0
3 years ago
Which of the following statements best explains the purpose of advertising?
VMariaS [17]

Answer:

B. Advertising is about buying the attention of an audience of potential consumers. I hope this helps. :)

Explanation:

7 0
3 years ago
Which of the following would be a disadvantage of releasing cash flow to buy out an investor?
DedPeter [7]

Explanation:

what are the options? (:

5 0
3 years ago
For more than a century, Americans moved from rural to metropolitan areas. Then in the 1950s, Americans made a mass exit from th
Charra [1.4K]

Answer:

economic dimension

Explanation:

Based on the information provided within the question it seems that this trend affects the location of many businesses and is part of the economic dimension in which they operate. This can be said because economic dimension refers to all the economic outputs that occur because of a certain event. In this scenario the back and forth of people moving to or from the suburbs causes business to either increase or decrease in value because of the amount of people that are around to buy from their stores. Therefore it greatly affects the businesses economy.

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

4 0
3 years ago
Other questions:
  • Why did the United States issue the Marshall Plan?
    15·1 answer
  • Social media services not only sell advertising space, but also information about their members to businesses, thereby providing
    5·1 answer
  • . A poor credit score can result in:
    15·1 answer
  • If you are required to show proof of financial responsibility for the future, for how many years must the proof be kept? 1 year
    7·1 answer
  • Economic growth in the country of Southville has slowed down in the last few months. Following a collapse in housing​ prices, se
    8·1 answer
  • Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be repor
    8·1 answer
  • Chris would like to conduct a study on the effectiveness of a new substance-abuse treatment program. He has a sample of particip
    6·1 answer
  • Free 100 points + brainliest to Ambitious or below, will not give brainliest if higher than amb
    7·2 answers
  • Please help me with this I will give you brainiest if you help me correctly
    9·1 answer
  • true or false: mitigation funds are often allocated for public infrastructure and facilities improvements because they support t
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!