Answer:
1. WINFREY TOWING SERVICE
Statement of Comprehensive Income
$
Service revenue 10,800
Rent expense (550)
Salaries expense (1,900)
Dividends paid <u>(4,000)</u>
Net income <u> 4,350</u>
Statement of Retained Earnings
$
Retained earnings b/f 3,900
Add: Net income 4,350
Retained earnings c/f 8,250
2. Statement of retained earnings report changes in retained earnings of a company in a given accounting year.
Explanation:
In this question, we need to obtain the net income of the company, which is service revenue minus expenses minus dividend. Then, the statement of retained earnings is prepared by taking cognisance of the retained earnings brought forward and add the net income for the year.
Answer:
The correct answer is total revenue; total cost.
Explanation:
Cost reduction is one of the most addressed issues in companies. They do it all the time since it is a permanent process. This is because it always seeks to improve the profitability of the company and, consequently, productivity. In other words, try to "do more with less", which is to produce more with what you have or produce the same with lower expenses. In both cases the objective is to reduce costs.
A company can reduce costs for many reasons: for a drop in sales, for lack of liquidity, for not having access to credit, etc. And when this happens, the cost cut occurs in the areas of human resources with the dismissal of personnel, the restructuring of the purchase processes, changes of suppliers, among other measures.
It is important to know what the current production process is and, if possible, redesign it, seeking to eliminate unnecessary steps, that is, to shorten the production processes. A long production line implies a greater number of workers, more work in the process and more time in product development. It also increases the possibility of errors in the process.
To make the cost reduction in your company even more efficient, you need to know each process deeply to detect unnecessary steps and help you reduce processes and / or procedures that in the medium or long term translate into cost reduction.
The available options are:
A. No contribution can be made because the woman does not have earned income
B. A contribution of up to $6,000 is permitted, but the contribution is not tax deductible.
C. A tax deductible contribution of up to $7,000 is permitted
D. A tax deductible contribution of up to $9,000 is permitted
Answer:
No contribution can be made because the woman does not have earned income
Explanation:
Unlike in the previous years before 2019, concerning divorce agreements, alimony is now declared to be no longer deductible by the payor and at the same time is considered to be a tax-free income to the recipient. In essence, this indicates that alimony is no longer qualifies as earned income and therefore, cannot be utilized to fund an Individual Retirement Account.
Hence, in this case, since it is , year 2020, the correct answer is "No contribution can be made because the woman does not have earned income."
If demand also dropped.
If supply goes down and demand goes up, the price would rise.
If supply goes down and demand stays the same, the price would still rise.
