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
konstantin123 [22]
3 years ago
13

The financial statements for Harold Corporation contained the following information: Accounts receivable $ 5,000 Sales revenue 7

5,000 Cash 15,000 Salaries and wages expense 20,000 Rent expense 10,000 How much was Harold’s net income?
Business
1 answer:
worty [1.4K]3 years ago
4 0

Answer: $45,000

Explanation:

Given that,

Accounts receivable = $ 5,000

Sales revenue = $75,000

Cash = $15,000

Salaries and wages expense = $20,000

Rent expense = $10,000

Net income = Sales revenue - Salaries and wages expense - Rent expense

                   = $75,000 - $20,000 - $10,000

                   = $45,000

You might be interested in
In the product development process, what takes place between concept testing and market testing?
densk [106]
<span>In the product development process, the stage of concept testing is followed by product development. The product must actually be in existence before market testing can be conducted. So, in this process, product development is in between concept testing and market testing.</span>
5 0
3 years ago
Greening refers to: a. Answer the need for more carbon dioxide in our air. b. firms acquiring more green backs (U.S. dollars) fr
Ipatiy [6.2K]

Answer:

The correct answer is letter "C": finding ways to lessen the harm on our environment.

Explanation:

Greening implies analyzing what factors of businesses are harmful to the environment where the firm carries out its operations so that impact can be reduced in favor of the natural atmosphere. To achieve that goal, companies take several steps such as <em>reducing power and water service usage, recycling </em>or <em>planting trees</em> in affected environments.

5 0
3 years ago
ABC provides music for special occasions. On January 14, the Smith family hired ABC for an upcoming family wedding for an agreed
OLga [1]

Answer:

Debit Cash account (with the amount received)

Credit Accounts receivables (with the amount received)

Explanation:

Revenue is not recorded until the recognition criteria for the recognition of  revenue has been met and this includes;

  • the corresponding cost incurred in generating revenue can be reliably measured
  • the goods or service has been delivered

Given that the service was performed in May, when half of the fee was received in April, the required entries then was

Debit Cash account

Credit Unearned revenue (with the amount received being half payment)

when the service was performed in May,revenue was earned

Debit Unearned revenue (with the amount received being half payment)

Debit Accounts receivable  (with the amount yet to be received being half payment)

Credit Revenue (with the amount agreed for the service)

In June when the final payment is received,

Debit Cash account (with the amount received)

Credit Accounts receivables (with the amount received)

3 0
3 years ago
Which of the following acronyms identifies the Big Five personality dimensions
Burka [1]
The answer will be CANOE. Hope this helps:)
3 0
3 years ago
Paddy has lots of cousins. With a family reunion in the near future, Paddy decides to collect income information for himself and
dusya [7]

Answer:

The answer is Letter A.

Explanation:

Paddy has lots of cousins. With a family reunion in the near future, Paddy decides to collect income information for himself and all his cousins. He obtains the following data points: $52,000, $22,000, $92,000, $8,000, $118,000, $62,000, $38,000, $14,000, $132,000, $46,000, $26,000, $96,000, $54,000, $110,000, $80,000. The share of income received by the highest quintile of this income distribution is 37.9%______, which is __lower___ than that for the highest quintile of the U.S. income distribution in 2005.

5 0
4 years ago
Other questions:
  • Why are two types of strategies businesses use to directly influence the environment
    13·1 answer
  • Assume that the amount of money deposited in a bank is proportional to the square of the interest rate the bank pays on this mon
    7·1 answer
  • Marvel Company uses a predetermined overhead rate in applying overhead to production orders on a labor-cost basis in Department
    8·1 answer
  • James used $200,000 from his savings account that paid an annual interest of 10% to purchase a hardware store. After one year, J
    15·1 answer
  • A company borrowed from the bank by signing a longterm note. How does this transaction affect the accounting​ equation?
    9·1 answer
  • You run a school in Florida. Fixed monthly cost is $5000 for rent and utilities, $3000 is spent in salaries and $500 in insuranc
    12·1 answer
  • In the long run:
    6·1 answer
  • DUE TODAY PLEASE HELP T^T
    11·2 answers
  • Which scenario might produce a new equilibrium interest rate of 5% and a new equilibrium quantity of loanable funds of $150 bill
    9·1 answer
  • An undifferentiated marketing strategy is likely to fail even if a firm has the resources to develop a single marketing mix that
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!