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
Irina-Kira [14]
3 years ago
9

Income Statement The revenues and expenses of Paradise Travel Service for the year ended May 31, 2018, follow: Fees earned $900,

000 Office expense 300,000 Miscellaneous expense 15,000 Wages expense 450,000 Prepare an income statement for the year ended May 31, 2018. Paradise Travel Service Income Statement For the Year Ended May 31, 2018
Business
1 answer:
Virty [35]3 years ago
6 0

Answer:

Net income is $135,00 from the income statement.

Explanation:

In the Income Statement for a particular year, all expenses all expenses for the year are deducted from the income to arrive at net income for that year. Based this, we have:

Paradise Travel Service Income Statement For the Year Ended May 31, 2018

<u>Details                                         ($)   </u>

Fees earned                          900,000

Office expense                    (300,000)

Miscellaneous expense         (15,000)

Wages expense                  <u> (450,000) </u>

Net income                          <u>  135,000 </u>

Therefore, net income is $135,00 from the income statement.

You might be interested in
What are the entrepreneurial qualities of a good entrepreneur​
Anna71 [15]

Answer: Creativity.

Professionalism.

Risk-taking.

Passion.

Planning.

Knowledge.

Social Skills.

Open-mindedness towards learning, people, and even failure.

4 0
2 years ago
John is interested in joining with a large corporation in a cooperative venture to share risks and pool resources for his small
s344n2d4d5 [400]

Answer:

<em><u>An international strategic alliance.</u></em>

Explanation:

An international strategic alliance is characterized by the collaboration of companies based in different countries whose main objective is to share resources and know how for the development of the economic growth strategy.

Companies that establish an alliance remain independent, and can be categorized according to their type of collaborative activity, which may be:

  • franchise,
  • management,
  • licensing,
  • procurement,
  • research and development,
  • marketing, manufacturing (...)

7 0
3 years ago
Email communication: A. is characterized by low control. B. is characterized by little coordination. C. is a rich communication
grandymaker [24]

Answer:

low control

Explanation:

8 0
3 years ago
3. A large hotel wants to relocate some of its parking area. Your company, ABC Contractors, would submit a ___
maksim [4K]
The correct answer would be a request form.
8 0
3 years ago
Read 2 more answers
Suppose you owe $3,000 on your credit card. You pay a minimum payment of $30 each month. At an Annual Percentage Rate of 12% (or
lianna [129]

Answer:

Never, you will continue to be in debt

Explanation:

the interest per month are 1% of the unpaid amount:

3,000 x 1% = 30 interest per month

the minimum payment is 30 dollars

Therefore, by doing the minimum payment we are just coering the interest generated per month we are not doing any amortization on the principal Hence we cannot repay the debt.

3 0
3 years ago
Other questions:
  • SaaS refers to:
    7·1 answer
  • Which of the following is true of private corporations?
    14·1 answer
  • Alcohol-related accidents and violence are the leading cause of death for americans under the age of 35. if you drive with a bac
    6·1 answer
  • Describe an example of a company that manufactures a product.
    14·1 answer
  • At the end of the month, the department had 12,000 units in inventory, 85% complete as to materials and 60% complete as to conve
    13·1 answer
  • Potential problems with incentive based compensation are a. ​not evaluating the relevant performance measures b. ​rewarding outc
    8·1 answer
  • Dots sells T-shirts for $2 and shorts for $3. In April, total sales were $576. People bought 3 times as many T-shirts as shorts.
    8·1 answer
  • Mutual funds Group of answer choices provide diversification. Shareholders assume all of the risk associated with the mutual fun
    9·1 answer
  • Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations and round your final an
    12·1 answer
  • Andy has decided to drop the price on his townhome. His listing agreement states the list price as $650,000. How can he account
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!