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
alexdok [17]
3 years ago
8

Bantam company calculated its net income to be $38,775 based on the unadjusted trial balance. The following adjusting entries we

re then made for:
Salaries and wages owed but not yet paid of $395.
Interest earned but not received from investments of $375.
Prepaid insurance premiums amounting to $275 have expired.
Unearned revenue in the amount of $805 has now been earned.

Required:
Determine the amount of net income (loss) that will be reported after the adjustments are recorded.
Business
1 answer:
Goryan [66]3 years ago
5 0

Answer:

the amount of net income or loss is $39,285

Explanation:

The computation of the amount of net income or loss is shown below:

= Net income + interest earned + unearned revenue - salaries & wages - prepaid insurance

= $38,775 + $375 + $805 - $395 - $275

= $39,285

hence, the amount of net income or loss is $39,285

The same should be considered and relevant

You might be interested in
7. Valuing semiannual coupon bonds Bonds often pay a coupon twice a year. For the valuation of bonds that make semiannual paymen
Maurinko [17]

Answer:

A = $698,494.97 is the right answer.

And Assuming that interest rates remain constant, the T-note’s price is expected to Increase.

Explanation:

A. $698,494.97

B. $593,720.72

C. $838,193.96

D. $440,051.83

Solution:

First we need to see which among the four options is the correct value.

For that we need to find the rate:

Rate = Yield to Maturity/2

Yield to Maturity = 11%

So,

Rate = 11/2

Rate = 5.5%

Now, we need to find the Nper ( Number of periods for the loan)

Nper = 5 x 2 = 10 years.

Nper = 10 years

Now, we need to find PMT which is a financial function used to calculate the amount to be paid for the loan based on constant payments and interest.

PMT = (3%/2) x par value

PMT = (3%/2)x 1,000,000

PMT = 15000

Now, For future value, we have par value.

So,

Par Value = Future Value = FV = 1,000,000

Now, we have to find the PV = Present Value or the price of the bond.

For this we need to use PV function on excel.

Formula:

Price = - PV(Rate, Nper, PMT, FV)

Plugging the values in Excel like this and we get:

Price = -PV (5.5%,10,15000,1000000)

Price = $698,494.97

Hence, A = $698,494.97 is the right answer.

And Assuming that interest rates remain constant, the T-note’s price is expected to Increase.

4 0
3 years ago
Examples of tangible and intangible
Rashid [163]

Answer:  Tangible: <em>cash, inventory, vehicles, equipment, buildings and investments</em>

Intangible:  <em>goodwill, brand recognition, copyrights, patents, trademarks, trade names, and customer lists</em>

<em>Hope this helps </em>

<em>Plz mark brainlest</em>

<em />

5 0
3 years ago
Many state legislators have decided to take on crime and other forms of delinquency in schools through zero tolerance policies.
otez555 [7]

Answer:

It is a person-blame

approach that ignores the role of institutions.

Explanation:

Hope this helps

7 0
3 years ago
Profit-maximizing firms enter a competitive market when existing firms in that market have.
alexdok [17]

Answer:Profit-maximizing firms enter a competitive market when, for existing firms in that market, total revenue exceeds fixed costs.

Explanation:

that is what i think sorry if im not right

6 0
1 year ago
Which of the following is needed to apply for a checking account? A. Report card B. PIN number C. Photo ID D. Birth certificate
ivann1987 [24]

photo identification

Explanation:

5 0
3 years ago
Read 2 more answers
Other questions:
  • perfectly competitive firm sells pineapples for​ $4 each. MR​ = MC at a quantity of 600 units. Average total cost at the​ profit
    6·1 answer
  • The University of Iowa runs a series of ads throughout the Midwest on how friendly and helpful its faculty, staff, and students
    5·1 answer
  • Suppose you have two indifference curves U 1 and U 2 representing the consumption of two normal goods. If U 2 is twice as far fr
    11·1 answer
  • A company issued a 20-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interes
    15·1 answer
  • When aggregate demand is high enough to drive unemployment below the natural rate:_________
    10·1 answer
  • Ribelin Corporation is adding a new product line that will require an investment of $218,000. The product line is estimated to g
    5·1 answer
  • What was the main reason for the popularity of The Canterbury Tales in medieval England?
    11·2 answers
  • "The management team at Mercury, a department store, has received feedback from the customer service department that the store's
    6·1 answer
  • If the contribution margin is not sufficient to cover fixed expenses:.
    8·1 answer
  • a perpetual bond with a par value of $1,000 and a semiannual coupon has a yield to maturity of 5.20% and a current price of $1,0
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!