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Leona [35]
3 years ago
15

Income Statement The revenues and expenses of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned $954,

210 Office expense 219,470 Miscellaneous expense 19,085 Wages expense 458,020 Prepare an income statement for the year ended May 31, 20Y6. Paradise Travel Service Income Statement For the Year Ended May 31, 20Y6
Business
1 answer:
stiv31 [10]3 years ago
4 0

Answer:

Instructions are listed below

Explanation:

An income statement is one of the three important financial statements used for reporting a company's financial performance over a specific accounting period. The income statement focuses on the four key items - revenue, expenses, gains, and losses. It does not cover receipts (money received by the business) or the cash payments/disbursements (money paid by the business).

It follows the general structures:

Revenues (+)

Operating Revenue

Non-Operating Revenue

Total

Expenses (-)

Primary Activity Expenses

Secondary Activity Expenses

Total

Gains (+)

Losses (-)

Net income/loss

In this exercise:

Total revenues=$954210

Expenses:

Office expense 219470

Miscellaneous expense 19085

Wages expense 458020

Total Expenses=$696575

Net profit= $275635

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andriy [413]

Answer:

The answers are:

  1. automobile insurers
  2. life insurance companies
  3. a life insurance policy
  4. longer
  5. longer-term

Explanation:

When a company may need money in a short notice (like auto insurers), they will need to make liquid investments. That means that they can turn their investments into cash very rapidly. Since T-bills are traded all the time, they are very liquid investments, although they aren't very lucrative investments.

On the other hand, companies that know that they will not be needing a lot money promptly (life insurance), can afford to invest in projects with a longer life span that can be more profitable also. Usually liquid investments have smaller rates of return, while long term investments have higher rates of return.

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3 years ago
Shale Oil Corporation combines its assets and debts with those of Tierra Frakking Company to form Unified Resources, Inc. Shale
andriy [413]

Answer:

1. c. a consolidation

2. a. all of Shale's and Tierra's assets

3. c. all of Shale's and Tierra's debts

Explanation:

1. When multiple companies join up together to form a new company, this is called a Consolidation which is what Shale Shale Oil Corporation and Tierra Frakking Company did when they formed Unified Resources, Inc.

2. In a Consolidation, the previously separate companies move in with all their debt and assets to form the new company. As such, Unified Resources acquires all of Shale's and Tierra's assets.

3. As previously stated, in a Consolidation, the previously separate companies move in with all their debt and assets to form the new company. As such, Unified Resources assumes all of Shale's and Tierra's debts as well.

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3 years ago
​_____ is a tort in which the presumption of negligence arises because the defendant was in exclusive control of the​ situation,
Lina20 [59]

Answer:

Res ipsa loquitur

Explanation:

_____ is a tort in which the presumption of negligence arises because the defendant was in exclusive control of the​ situation, and the plaintiff would not have suffered injury but for​ someone's negligence.

Res ipsa loquitur is a doctrine in law that one can presume the negligence of a defendant when the facts are glaring.The doctrine has primarily required that a defendant have exclusive power over the occurrence of an injury. negligence could result from

1. an actual causal connection between the defendant's conduct and the resulting harm; 2 a duty of care owed by the defendant to the plaintiff; 3 a breach of that duty;

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3 years ago
The following gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks.
Licemer1 [7]

Answer:

Attached is the solution:

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3 years ago
Ge is disrupting itself by using reverse innovation to create low-cost health care diagnostic products in emerging markets. all
umka2103 [35]

ge is utilizing reverse innovation in order to protect itself from rivals.

<h3>What is  reverse innovation?</h3>

Reverse innovation or trickle-up innovation An innovation is one that is first noticed or used in the developing world before moving to the industrialised world. Dartmouth academicians Vijay Govindarajan and Chris Trimble, as well as General Electric's Jeffrey R. Immelt, popularised the term.

Reverse innovation is the process by which goods developed as low-cost prototypes to satisfy the needs of developing countries, such as battery-powered medical tools in countries with poor infrastructure, are repackaged as low-cost novel goods for Western purchasers.

The approach of innovating in emerging (or developing) markets and then distributing/marketing these inventions in mature ones is known as reverse innovation. Many businesses are creating items in rising markets such as China and India and then distributing them abroad.

To know more about  reverse innovation follow the link:

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8 0
1 year ago
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