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Bess [88]
3 years ago
5

These financial statement items are for Snyder Corporation at year-end, July 31, 2017. Salaries and wages payable $2,580 Salarie

s and wages expense 50,700 Utilities expense 22,600 Equipment 21,000 Accounts payable 4,100 Service revenue 62,100 Rent revenue 8,500 Notes payable (due 2019) 1,800 Common stock 16,000 Cash 20,200 Accounts receivable 12,780 Accumulated depreciation—equipment 6,000 Dividends 5,000 Depreciation expense 4,000 Retained earnings (beginning of the year) 35,200
Prepare an income statement for the year ended July 31, 2017
Business
1 answer:
tatiyna3 years ago
6 0

Answer:

Net loss = (6,700)

Explanation:

According to the scenario, computation of the given data are as follow:-

Income Statement

Particular                                        Amount ($)

Revenue from Service                         62,100

Revenue from Rent                         8,500

Less-Salaries and wages expenses   (50,700)

Less-Utilities expenses                       (22,600)

Less-Depreciation expenses       (4,000)

Net loss                                               (6,700)

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nata0808 [166]

Answer:

The question is not comprehensive.

Explanation:

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3 years ago
"Lluvia Manufacturing and Paraguas Products both seek funding at the lowest possible cost. Lluvia would prefer the flexibility o
JulijaS [17]

Answer:

Paraguas should borrow at LIBOR + 2.000% and swap for fixed rate debt.

Lluvia should choose funding in floating rate

Explanation:

Paraguas wants the security of fixed rate borrowing; thus it should borrow at LIBOR + 2.000% and swap for fixed rate debt, in which Libor is 5.500%; their total cost at 7.5% is still lower than Fixed rate 12.0%

Lluvia prefer the flexibility of floating rate borrowing, and its rating is better; then it can enjoy lower cost of borrowing at 5%. However it may face the increase if LIBOR increase later; vice versa if LIBOR decrease, its cost of borrowing is able to reduce also.

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7 0
3 years ago
Which of the following is a low-interest loan to students with very high financial need? A.Direct PLUS B.Pell C.Gates D.Perkins
8090 [49]
My answer would have to be D.Perkins
7 0
3 years ago
Read 2 more answers
Suppose the price of apples doubles to $3.00 between year 1 and year 2 but that nothing else in the economy changes Instructions
Bond [772]

Answer:

1. Suppose Quantity of Apple sold in year one & two =  100Kg.

Price in year 1 = $1.50 per kg

Price in year 2 = $3.00 per kg

Nominal GDP 1 = Price * Quantity = 1.50*100 = $150

Nominal GDP year 2 = 3*100 = $300

Change in Nominal GDP = $150

Percentage change in Nominal GDP = 100%

b. Real GDP of year 1 = Nominal GDP of year 1 = $150

Real GDP of year 2 = 1.50*100 = $150

Change in Real GDP = 0%

2. Quantity of Bread = 100 units price = $ 1 per unit, year 2 price = $ 2 per units

a. Nominal GDP year 1 = 1*100+1.5*100 = $250

Nominal GDP year 2 = 2*100+3*100 = $500

Percentage change in Nominal GDP = 500-250/500 * 100 = 100%

b. Real GDP year 1 = $250

Real GDP year 2 = 1*100 + 1.5*100 = $250

Percentage change in Real GDP = 0%

6 0
2 years ago
Management at the Flagstaff Company currently sells its products for $250 per unit and is contemplating a 40% increase in the se
elena-s [515]

Answer:

393 units will need to be sold to breakeven

Explanation:

Break even point is the point where a Company makes neither makes a profit nor a loss.

Step 1 : Calculate new variables

New Sales = $250 x 1.40 = $350

Variable Costs = $250 x 30 % = $75

New Fixed Costs = $120,000 x 90 % = $108,000

Step 2 : Break even (units)

Break even (units) = Fixed Costs ÷ Contribution per unit

                               = $108,000 ÷ ($350 - $75)

                               = 393 units

Thus, 393 units will need to be sold to breakeven

8 0
2 years ago
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