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
xz_007 [3.2K]
3 years ago
10

ABC Corporation has noticed the following transactions havent been account for in its income statement for the year ended Decemb

er 31, 2017: • Repairs of $4,650 were made in December and will be paid January 3, 2018. • The electricity bill of $800 for December was received and will be paid January 20, 2018. • The wages of $3,550 for January 2018 was paid on December 28, 2017. • At the beginning of October, the firm paid $1,800 for insurance for the months November and December of 2019, and January of 2020. What is the proper amount of expenses to be included in the income statement for the year
Business
1 answer:
grin007 [14]3 years ago
5 0

Answer:

The proper amount of expenses to be included in the income statement for the year is $6,650

Explanation:

The computation of the expense amount which is included in the income statement is shown below:

= Repair expenses + electricity bill + insurance expense

= $4,650 + $800 + $1,200

= $6,650

The insurance expenses are given for the three months but we have to calculate for the 2 months only  

So for two months = $1,800 × 2 ÷ 3 = $1,200

And, the wages are given for the last year which is not included in the income statement as it shows outstanding wages. So, we do not consider it.

You might be interested in
It is estimated that the average cost of a single field sales call on a business customer is about __________, factoring in sale
bearhunter [10]
The answer to this question is an amount equal to or more likely "$350.00". Hence when it is estimated that the average cost of single field sales calls on a business or the establishment customer is about an amount of $350.00, factoring in sales the people or worker's compensation, benefits, and the travel-and-entertainment expenses.
3 0
3 years ago
18) Sum, Average, and Count are examples of ________.
zvonat [6]

Answer:

Summary calculation

Explanation:

  • The end of summary calculation refers to summary statistics
  • But here we have to calculate things like sum ,mean, average etc.

Option C is correct

3 0
2 years ago
Stock dividends and stock splits should, at least conceptually, have the same effect on shareholders' wealth. True or false?
bulgar [2K]

Answer:

The correct answer is True.

Explanation:

The dividend in shares is a distribution of benefits, through which a corporation distributes to its shareholders shares released from the issuance itself or shares of open stock companies that the company owns.

A division of shares is a corporate action that increases the number of shares in circulation of the company by dividing them, which in turn decreases its price. The market capitalization of the share, however, remains the same, just as the value of the $ 100 bill does not change if it is exchanged for two of $ 50. For example, with a division of shares of 2 by 1, each shareholder receives an additional share for each share held, but the value of each share is reduced by half: two shares now equal the original value of a share before the division .

7 0
3 years ago
You are the international manager of a US business that has just invented a revolutionary new personal computer that can perform
cricket20 [7]

Answer:

1. Pro-Maintain tight oversight of technologies and manufacturing methods, build American employment that improve domestic reputation, and theoretically gain tax cuts.

2.  Pro-Less start-up charges wanting to work to current manufacturers, possibly avoiding import-related taxes / punishments, and potentially taking advantage of brand recognition as well as financial acumen.

1. Con-Possibly increasing labour charges, logistics and delivery costs, customs duties or punishments on entry into the western europe territory , market stimulation expenses.

2. Con-Less power over production cycle and efficiency, knowledge sharing, less efficient workers.

7 0
3 years ago
Jamie Lee now has to juggle the three monthly credit card bills for each of the retailers where she purchased her home furnishin
ivanzaharov [21]

<u>Explanation:</u>

I would recommend Jamie Lee to use consolidating of her debt such as the credit card bills and taking personal loans only when she has a regular income and creditworthiness. She should also be able to payback her debts quickly and on time. If the interest rates offered by the company are lower for consolidated debt then she can choose this method to reduce her interest payments.

The debt management companies do not pay off her loans but they manage the funds through escrow account. On non payment it will result in diminishing personal credit score. Debt consolidation can be kept as the last resort when she is out of options to pay her debts.

7 0
3 years ago
Other questions:
  • Hercules Company purchased a computer for $4,800 on December 1. It is estimated that annual
    6·1 answer
  • A profit-maximizing decision must be made about whether to keep a bed &amp; breakfast operating. Until the place sells, the mort
    9·1 answer
  • (n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from pr
    13·1 answer
  • Profit Margin, Investment Turnover, and ROI Briggs Company has operating income of $56,496, invested assets of $214,000, and sal
    10·1 answer
  • The Assembly Department of​ ByteSize, Inc., manufacturer of​ computers, incurred $ 290 comma 000 in direct material costs and $
    7·1 answer
  • What type of firm helps consumers and businesses build
    5·1 answer
  • In your resume you need to mention the names and contact information of your previous employers under
    6·1 answer
  • What would you do when you grow up?*Career* <br> And explain why!
    10·2 answers
  • Dylan has a standard set of questions he asks all applicants during an interview. What type of interview does dylan conduct
    9·1 answer
  • I want to talk does anybody want to talk to me? I will name you brainliest if you do.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!