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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

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In business, people often make choices. Opportunity Cost is the value of what must be foregone in order to undertake an activity.

<h3>What is opportunity cost?</h3>
  • The economists often refer to this type of cost as the amount or the value of the next highly rated alternative use of one's money or resource.

An example is when a person spend their time and money going to a shop, one cannot spend that time at cooking, and you even did not spend the money on other things.

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8 0
2 years ago
When a competitive market is in​ equilibrium, what is the economically efficient level of​ output? A. any output level where mar
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Answer:

The correct answer is C. the output level where marginal cost is equal to marginal benefit .

Explanation:

Competitive equilibrium Traditional concept of economic equilibrium used for the analysis of  goods markets with flexible prices and many agents, which usually serve as a benchmark for efficiency in economic analysis. Crucially, it depends on the assumption of a context in which each agent makes decisions about such a small amount compared to the total amount traded in the market that their individual transactions have no influence on prices.

It consists of a price system and an allocation of the production and consumption of the economy among the various agents, such that, given the prices, each agent maximizing its objective function (benefits, preferences) subject to restrictions (technological, of resources) plans to trade its share in the proposed allocation, at prices that make all exchanges compatible with each other by balancing the markets, that is, matching the aggregate supply with the demand  aggregate of each of the goods and services traded.

6 0
3 years ago
What’s the answer cuh
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Answer:

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Explanation:

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7 0
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Received a $665 deposit from a customer who wanted her piano rebuilt in February. Rented a part of the building to a bicycle rep
andrey2020 [161]

Answer:

1. Dr Cash 665

        Cr Advance from customer   665

2. Dr Cash  685

           Cr     Other income   685

3. Dr cash   18675

      Cr   Account receivable    18675

4. Dr Account receivable     9600

          Cr        Sales revenue         9600

5. Dr Cash     8000

             Cr Account receivable      8000

6.Dr Utility expense   395

            Utility expense payable     395

7. Dr Supplies   1255

         Cr            Accounts payable   1255

8. Dr Accounts payable   2600

               Cr Cash                    2600

9.Dr Salaries and wages expense   12200

                 Cr Cash                                        12200

Explanation:

4 0
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What are the managerial implications of a borderless organization?
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