Answer:
Explanation:
Preparation of the income statement for Sunland Company ending December 31, 2022 is presented below:
Sunland Company
Income statement
Revenue
Service revenue $67,280
Total revenues $67,280 (A)
Less: Expenses
Advertising expense $2,080
Rent expense $12,000
Utilities expense 2,900
Salaries and wages expense 34,800
Total expenses $57,780 (B)
Net income $15,500 (A- B)
Simply we deduct the total expenses from the total revenues so that the net income could arrive
Answer:
add up all of the business assets and deducting all of its liabilities.
Answer:
The correct answer is: $12,000
Explanation:
uncollectible debt = 6% of net sales
= 6/100 × 200,000
= 0.06 × 200,000 = $12,000
Therefore, $12,000 will be removed (debited) from the bad debt expense because it is uncollectible, and it is added (credited) to the Allowance for Doubtful accounts as bad debt to be paid for in the bad debt reserve account.
Answer:
E) Congressional incumbents
Explanation:
PAC money is directed primarily toward congressional incumbents, and this can easily be verified on the web. For example, both Nancy Pelosi, a democrat, and Brian Fritzpatrick, a republican, are among the top incumbents by number of money received from PACs, thus, party affiliation is not as important as it is incumbent status.
This is probably because incumbents are more likely to win elections, whether in the senate, the house, or even, the presidency.
Answer: d. Decision-making lag
Explanation:
When policy makers have identified that there is a problem that needs fixing but cannot seem to agree on the way forward, this is known as a <em>Decision - Making Lag or simply the Decision Lag.</em> It is one of the 3 specific inside Policy Lags and can be devastating due to the uncertainty of time it might take.
For instance, the economists suggesting dropping the federal funds rate by 0.25% might have the backing of one half of the Fed and the other Economists, the other half. Arguments could therefore go on for weeks before a decision is made.
