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VLD [36.1K]
3 years ago
6

The following revenue and expense account balances were taken from the ledger of Wholistic Health Services Co. after the account

s had been adjusted on February 28, 2019, the end of the fiscal year:
Depreciation Expense $9,000 Service Revenue $270,900
Insurance Expense 4,000 Supplies Expense 3,000
Miscellaneous Expense 6,000 Utilities Expense 1,760
Rent Expense 4,200 Wages Expense 213,000
Prepare an income statement.
Business
1 answer:
vova2212 [387]3 years ago
8 0

Answer:

Wholistic Health Services Co.

Income Statement for the year end February 28, 2019

Service Revenue                           $270,900

Less: Supplies Expense                <u>$3,000    </u>

Gross Income                                  $267,900

Less operating Expenses:

Insurance Expense         $4,000

Depreciation Expense    $9,000

Miscellaneous Expense $6,000

Utilities Expense             $1,760

Rent Expense                  $4,200

Wages Expense              <u>$213,000</u>

                                                       <u>$237,960</u>

Net Income                                    <u>$29,940  </u>    

Explanation:

Income statement shows the performance of the company in a year. It provides the details of revenue, expenses and profits for the year. All the expenses are deducted from the revenue to determine the net earning of the business.

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borishaifa [10]

Answer:

Profit will increase by $2.3

Explanation:

Data provided in the question:

If instead of grooming 130130 ​dogs, he grooms 131131 ​dogs

Marginal cost = $65.82

Marginal revenue = $68.12

Now,

The effect on his profits of grooming 131 dogs instead of 130 ​dogs will be:

Change in profit = Marginal revenue - Marginal cost

or

Change in profit = $68.12 - $65.82

or

Change in profit = $2.3

Hence,

Profit will increase by $2.3

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2 years ago
Nami is very good at research is skilled at developing instructional materials and knows about libraries and information
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The answer is: B) professional support services

Skills in developing instructional materials and research make you a very valuable assets in providing data that needed by the people on the field (the front liners).

The duty of professional support services is to collect relevant data from company operations, processing that data, and provide instructions or advice for the front liners on how to use that data to their advantage.

8 0
2 years ago
Read 2 more answers
Mays, Inc. had net income for 2014 of $1,060,000 and earnings per share on common stock of $5. Included in the net income was $1
Rainbow [258]

Answer:

The dividends on common stock in 2014 for Mays, Inc was:

Dividends paid=$2650

Explanation:

1. You must follow the formula below to find out the Dividends Paid by Mays inc,

Payout ratio = (dividends paid/net earnings for the period) x 100 then,  

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3 years ago
Cioffi Manufacturing Company incorporates standards in its accounts and identifies variances at the time the manufacturing costs
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Answer:

A. Dr Materials $18,825

Dr Direct Materials Price Variance $8,575

Cr Accounts Payable $127,400

B. Dr Work in Process $97,000

Cr Direct Materials Quantity Variance $4,850

Cr Material 92,150

Explanation:

Preparation of the journal entries

A. Dr Materials $18,825

(2,450*$48.50 per unit)

Dr Direct Materials Price Variance $8,575

[2,450*($52.00 per unit-$48.50 per unit)]

Cr Accounts Payable $127,400

(2,450*$52.00 per unit)

B. Dr Work in Process $97,000

(200*10 units *$48.50)

Cr Direct Materials Quantity Variance $4,850

(2,000 units – 1,900 units) × $48.50

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2 years ago
What are the rules of brainstorming? Check all that apply.
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Answer:

<h3>Always make sure to write all the ideas down. </h3><h3>Make no judgement.</h3><h3>Briefly discuss and elaborate on each idea as they are presented. </h3><h3>Let people know they will be brainstorming in advance if possible .</h3>

Explanation:

  • One of the most basic rule of brainstorming includes the practice of inclusiveness. It is important to bring all ideas together and write it down as in a brainstorming session, quantity matters over quality.
  • Each and every idea should be <u>respected by all</u>. One should not make any judgement of another person's idea.
  • It is important to briefly discuss each idea as they are presented as to fully <u>comprehend the main motive behind each idea</u>. Some ideas become more refined as we discuss more upon it.
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