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cupoosta [38]
3 years ago
5

Exercise 201 This information relates to Crane Co. for the year 2022. Retained earnings, January 1, 2022 $56,000 Advertising exp

ense 1,800 Dividends paid during 2022 10,000 Rent expense 10,000 Service revenue 63,500 Utilities expense 2,300 Salaries and wages expense 25,300
Business
1 answer:
aniked [119]3 years ago
7 0

Explanation:

The preparation of the year-end 2022 income statement for Crane Co.is shown below:

                                                         Crane Co.

                                               Income statement  

                                                For the year 2022

Revenue  

Service revenue $63,500

Total revenues $63,500 (A)

Less: Expenses

Advertising expense $1,800

Rent expense $10,000

Utilities expense $2,300

Salaries and wages expense $25,300

Total expenses $39,400 (B)

Net income $24,100 (A- B)

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Simora [160]

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $768,000

Service Charge Expense A/c $32,000

         To Accounts Receivable A/c $800,000

(Being the cash is received and the remaining balance is debited to the cash account )

The computation of the service charge expense is shown below:

= Accounts Receivable  × service charge percentage

= $800,000 × 4%

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6 0
3 years ago
For an average commercial vehicle being driven at 55 mph on dry pavement, it will take about _____ to bring the vehicle to a sto
zalisa [80]
Answer: 300 feet

Explanation:
Three important factors are involved in bringing a moving vehicle to a stop.

1. Perception distance is the distance a vehicle travels while your brain perceives the need to apply the brakes. An alert driver requires about 0.75 seconds to react. This time accounts for about 60 feet of travel.

2. Reaction distance is the distance traveled before the driver actually presses on the brake pedal. For an alert driver, this also takes about 0.75 seconds. This adds another 60 feet of travel.

3. Braking distance is the distance the vehicle travels before coming to a stop on a dry ground. On a slippery ground (after snow or rain) this distance is longer. On dry ground, the skidding distance is about 170 feet.

This means that an alert driver needs 60+60+170 = 290 feet (approximately 300 feet) to stop.
For this reason, tailgating at high driving speeds is dangerous.

7 0
3 years ago
If the potential employer is a candle-making company, _____ would be one of the employer’s raw materials.
Scilla [17]

Answer:

wax

Explanation:

Raw materials are the components or ingredients used to manufacture finished goods. They are the unprocessed materials that go through the production process or refining to give a consumable product.

Wax is the main raw material in the production of candles. A company involved in making candles need a source of wax to stay in business.

5 0
3 years ago
Dan works 50 to 60 hours a week supervising a group of engineers. He realizes that he is spending too much time training new eng
Allisa [31]

Answer:

The correct answer is letter "B": Identifying alternative solutions.

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By identifying alternative solutions someone is trying to discard the solution of a problem over another because one of them is helpful but carries a problematic situation. In this process, it is important to identify in what way an objective can be reached without implying affecting other areas or people involved.

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3 years ago
Losing a customer once means losing the entire stream of possible purchases that the customer would make over an extended period
sdas [7]

Answer: (D) Customer lifetime value  

Explanation:

 The customer lifetime value is the term, which refers to the overall profit  of an organization and this type of method also helps in estimating the customer monetary in the business.

The customer lifetime value is basically using the predictive analytical method for analyzing the relationship with the consumers.

The customer lifetime value is refers to the metric of net profit in an organization and it also helps in making various types of decision in an organization in terms of development, marketing and the customer support.

 Therefore, Option (D) is correct answer.

5 0
3 years ago
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