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Leno4ka [110]
3 years ago
6

May 1: Prepaid rent for three months, $3,000 May 5: Received and paid electricity bill, $130 May 9: Received cash for meals serv

ed to customers, $1,870 May 14: Paid cash for kitchen equipment, $2,990 May 23: Served a banquet on account, $2,520 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $2,590 May 31: Recorded depreciation for May on kitchen equipment, $740 If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.
Business
1 answer:
mylen [45]3 years ago
6 0

Answer:

-$850

Explanation:

The computation of the net income or loss using the cash method is shown below:

= Received cash from customers - accrued salary expense - paid electricity bill

= $1,870 - $2,590 - $130

= -$850

As we can see that the total of expenses is more than the revenue generated so it would be the net loss and the same is to be shown in a negative sign

Hence, the net loss is of -$850

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3 years ago
1. The Herfindahl index: Suppose that three firms make up the entire bicycle manufacturing industry. One has a 40% market share,
alukav5142 [94]

Answer:

3400, Rise, C

Explanation:

1. Since there are just 3 firms and two already has a sum total of 70% (40+30), the third firm will have a market share of 30%

HHI= 40^{2}+ 30^{2}+30^{2}\\

HHI= 1600+900+900

HHI= 3400

2. Abe's Bikes with 30% leaves the market, if the two firms were to share Abe's market share equally (15+15), it will leave Firm A with 55% (40+15) and Firm B with (30+15) 45%

Therefore,

HHI= 55^{2}+45^{2}

HHI=3025+2025

HHI= 5050

A rise in HHI

3. C

An index of 10,000 corresponds to a monopoly firm with 100% market share.

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3 years ago
Use the___icon to delete a record ?<br><br> A.*<br> B.=<br> C.X<br> D.&amp;
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Answer:

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In the past, manufacturer's representatives did not have real-time inventory data about the products they were selling. Today, m
Airida [17]

Answer:

sharing information across the organization.

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ERP software systems allow employees accurate and timely access to real time information about the company's areas that they work with. This can optimize how the company operates and increase cooperation between different areas. Also unnecessary operations and delays are eliminated.

Before, salespeople had to continuously check with inventory department about what products were available and ready to be sold, which caused delays and time is money.

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The answer is true not false
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