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Lena [83]
3 years ago
6

The income statement of Cullumber Co. for the month of July shows net income of $2,200 based on Service Revenue $6,100, Salaries

and Wages Expense $2,300, Supplies Expense $1,200, and Utilities Expense $400. In reviewing the statement, you discover the following.
1. Insurance expired during July of $600 was omitted.
2. Supplies expense includes $150 of supplies that are still on hand at July 31.
3. Depreciation on equipment of $250 was omitted.
4. Accrued but unpaid salaries and wages at July 31 of $400 were not included.
5. Services performed but unrecorded totaled $700.

Required:
Prepare a correct income statement for July 2017.
Business
1 answer:
saw5 [17]3 years ago
3 0

Answer:

Revenue                                                                      $6,800

Expenses:

  • Salaries and Wages Expense ($2,700)
  • Supplies Expense ($1,050)
  • Depreciation expense ($250)
  • Insurance expense ($600)
  • Utilities Expense ($400)                                   <u>($5,000)</u>

Net income                                                                  $1,800

1) you must add insurance expense

2) you must decrease supplies expense = $1,200 - $150 = $1,050

3) you must add depreciation expense

4) you must increase salaries and wages expense = $2,300 + $400 = $2,700

5) you must increase revenue = $6,100 + $700 = $6,800

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What is the fau and emergency management department’s campaign slogan?.
Aleks04 [339]

FAU and emergency management department’s campaign slogan is “FAU ALERT” or “ATTENTION FAU”. Read below about the usage of the slogan.

<h3>How does FAU use their slogan?</h3>

“ATTENTION FAU” is only utilised in messaging if an incident has the potential to suspend normal operations or affect life safety and/or destruction of University resources.

Therefore, the slogan is as provided above.

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3 0
2 years ago
Cho ví dụ môi trường kinh doanh ở các nước đầu tư
Snowcat [4.5K]

Answer:

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Explanation:

3 0
2 years ago
You find the following corporate bond quotes. To calculate the number of years until maturity, assume that it is currently Janua
Oduvanchick [21]

Answer:

the yield to maturity for the bond issued by Xenon, Inc = 6.92%

Explanation:

<em>IMPORTANT NOTE: The data of the calculation was obtained from an online book.</em>

<em />

Yield to Maturity [YTM] of the Bond

Yield to Maturity [YTM] = Coupon Amount + [(Par Value – Bond Price) / Maturity Years] / [(Par Value + Bond Price)/2]

Par Value = $2,000

Coupon Amount = $126 [$2,000 x 6.30%]

Bond Price = $1,885.82 [$2,000 x 94.291%]

Maturity Years = 15 Years [Jan 15,2016 to Jan 15,2031]

Therefore, Yield to Maturity [YTM] = Coupon Amount + [(Par Value – Bond Price) / Maturity Years] / [(Par Value + Bond Price)/2]

= [$126 + {($2,000 – $1,885.82) / 15 Years)] / [($2,000 + $1,885.82) / 2}]

= [($126 + $7.61) / $ 1,942.91]

= 0.0692

= 6.92%

<h2> </h2><h2>Therefore, the yield to maturity for the bond issued by Xenon, Inc = 6.92%</h2>
8 0
2 years ago
In March, Kelly Company had the following unit production costs: materials $12 and conversion costs $8. On March 1, it had zero
pochemuha

Answer:

A) the total units to be accounted for = 23,980 + 4,600 = 28,580 units

B) the total material equivalent units = 23,980 finished units + 4,600 = 28,580 units

total conversion equivalent units = 23,980 finished units + (4,600 x 30%) = 23,980 + 1,380 = 25,360

C) cost reconciliation schedule:

Cost accounted to finished goods 23,980 x (12 + 8) = $479,600

Cost of material in process  

material work in process  4,600 x 12 = $55,200  

conversion cost in process  1,380 x 8     = $11,040

<u>                                                                                                  $66,240   </u>

total cost                                                                                 $545,840

3 0
3 years ago
According to John Firman, the research director for the International Association of Chiefs of Police (IACP), the most common re
elena-s [515]

Answer:10;5.

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7 0
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