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
jek_recluse [69]
3 years ago
11

The following accounts were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet: Accumulated Deprecia

tion $ 3,200 Fees Earned 17,400 Depreciation Expense 1,300 Insurance Expense 400 Prepaid Insurance 4,800 Supplies 900 Supplies Expense 3,800 Net income for the period is _________.A. $3,200 B. $12,100 C. $17,400D. $8,900
Business
1 answer:
ludmilkaskok [199]3 years ago
3 0

Answer:

all the given figures are wrong but i explained the correct procedure.

Explanation:

INCOME STATEMENT

Fees earned                            17400

Expenses:  

Depreciation expense      1300  

Insurance expense      400  

Supplies expense              3800     5500

Net Income                               11900

Therefore, The Net income for the period is $11900.

You might be interested in
What are the uses of shares in raising capital for an entreprise
Alja [10]

Firms can raise the financial capital they need to pay for such projects in four main ways: (1) from early-stage investors; (2) by reinvesting profits; (3) by borrowing through banks or bonds; and (4) by selling stock. When owners of a business choose sources of financial capital, they also choose how to pay for them.

ummmm I ain't sure if this is the answer you need please read properly before you write

8 0
3 years ago
Consider the two countries of Swala and Atlantis. Swala is a major producer of wheat and rice while Atlantis specializes in the
Ivenika [448]
I think the answer is C
7 0
2 years ago
A company is setting its direct materials and direct labor standards for its leading product. Materials cost from the supplier a
stepladder [879]
The answer is 12$ per hour
4 0
3 years ago
Old Camp Company manufactures awnings for its own line of tents. The company is currently operating at capacity and has received
Helen [10]

Answer:

It is more convenient to continue the production in house.

Explanation:

Giving the following information:

The company is currently operating at capacity and has received an offer from one of its suppliers to make the 12,000 awnings it needs for $25 each. Old Camp’s costs to make the awning are $12 in direct materials and $7 in direct labor. Variable manufacturing overhead is 70 percent of direct labor. If Old Camp accepts the offer, $42,000 of fixed manufacturing overhead currently being charged to the awnings will have to be absorbed by other product lines.

Make in house:

Variable costs= 12 + 7 + (7*0.70)= $23.9

Total variable costs= 23.9*12000= 286,800

Buy= 25*12,000= $300,000

It is more convenient to continue the production in house.

3 0
3 years ago
Which of the following statements regarding the accounting for business combinations is false?
steposvetlana [31]

Answer:

Option A

Explanation:

Although goodwill is the difference between the consideration transferred by the acquirer to the acquiree it is not the fair value of the identifiable assets acquired rather it is the fair value of the net assets acquired.

The difference is fair value of identifiable assets is the value of the assets at some point of time which is expected to provide some future benefits.

The fair value of the net assets acquired is the total of the fair value of net assets minus liabilities.

7 0
3 years ago
Other questions:
  • To find the number of units that need to be sold in order to break even to generate
    10·1 answer
  • The following are means of political risk adaptation EXCEPT: Equity sharing shared ownership or partial ownership with nationals
    14·2 answers
  • Price indexes can be used to compare prices across different periods. Suppose that a year of tuition for college at public insti
    11·1 answer
  • Which of these statements best represents the law of supply?
    15·1 answer
  • When the workers in a workshop encounter operating difficulties or breakdowns while handling their machinery, they seek the help
    14·1 answer
  • Assume that the economy is in a recession and there is a budget deficit. A strict balanced-budget rule that would require the Fe
    5·1 answer
  • If the quantity demanded for a good rises as the price falls, then the curve representing this relationship will be:
    5·1 answer
  • : Typically required on ________ loans when the down payment is less than ______% and loan-to-value ratio is in excess of ____%.
    15·1 answer
  • Alfonzo's Italian House has 25,000 shares of stock outstanding with a par value of $1 per share and a market price of $36 a shar
    8·1 answer
  • The process of buying an underpriced security and selling an equivalent overpriced security until the prices converge is known a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!