All categories

3 years ago

The adjusted trial balance of Bramble Corp. at December 31, 2019, includes the following accounts:

Business

1 answer:

natulia [17]3 years ago

4 0

Answer:

$11,400

Explanation:

Income Statement

For the year ended December 31, 2019

Particulars Amount

Revenues

Service revenue $37,900

Expense

Salaries & wages expense $16,000

Insurance expense $2,900

Rent expense $3,400

Supplies expense $2,500

Depreciation expense $1,700

Total expenses $26,500

Net income (loss) $11,400

You might be interested in

The U.S. government imposes a 25 percent tax on the selling price of any four-wheel-drive SUV that is brought into the U.S. by a

trapecia [35]

Answer:

An import tarif

Explanation:

An import tariff is a type of tax levied on the product bought from foreign nations. Tariff restricts the volume of goods and services brought into the country and making them expensive in the local market. Import tariffs serve as a source of revenue to the government and protect locally manufactured goods from unfair competition by imports.

The 25 percent tax imposed on all SUVs is an example of an import tariff. The person of the firm importing the vehicle must pat the government an amount equivalent to 25 percent of the value of SUV. Import tariffs make importing unattractive, thereby encouraging the consumption of domestic products.

6 0

3 years ago

Which type of market is the one in which a person buys their favorite breakfast sandwich at a fast-food drive thru? product mark

pogonyaev

The type of market is the one in which a person buys stock in type fast food company is Financial market.

What is Financial market?

Any location or system that gives buyers and sellers thew ability to trade financial assets such as bonds, shares, the various international currencies, and derivatives , is referred to as a financial market.

Why is financial market important?

Markets provide finance for companies so they can hire, invest and grow.
They provide money for the government to help it pay for new roads, schools and hospitals.
They can help lower the costs you face buying food at the super market, taking out a mortgage or saving for your retirement.

Learn more about financial market here:

brainly.com/question/19733618

#SPJ4

4 0

2 years ago

Automobile firms can use their inputs to make hybrid cars or "regular" (non-hybrid) cars. If the equilibrium price of hybrid car

77julia77 [94]

Answer: a) an increase in the Equilibrium price of "regular" cars.

Explanation:

It is stated that the automobile companies use their inputs to make either the hybrid cars or the regular cars.

If the price of the Hybrid cars rises sharply, Automobile companies will make more Hybrid cars so as to take advantage of the situation and make more profit.

This would reduce the amount of inputs that they have available for regular cars and so they will make less regular cars.

As this supply of regular cars decreases,the supply curve will shift to the left and the price will increase to cater for this reduction in supply.

7 0

3 years ago

Ellie and Linda are equal owners in Otter Enterprises, a calendar year business. During the current year, Otter Enterprises has

ivolga24 [154]

Answer:

a and b

At the level of entity, otter pays no taxes either on the capital gains or on the business income.

Members will pay taxes on the capital gains and on business income.

The distribution of $25,000 each will be taxable in the hands of members as it is a dividend income.

Business Income and Capital gain of entity will have no impact for Linda and Ellie on their income tax returns.

Explanation:

a A partnership and b. An S corporation

At the level of entity, otter pays no taxes either on the capital gains or on the business income.

Members will pay taxes on the capital gains and on business income.

Taxable income of each member:

Ellie

Business Income is $55,000

Capital Gain is $7,500

Linda

Business Income is $55,000

Capital Gain is $7,500

Business Income = Gross Income - Operating expense

= $320,000 - $210,000

= $110,000

Note: Distribution of $25,000 will have no impact, as it only decrease their basis in the firm or company.

c. A C corporation

Ottor pays for the business income which amounts to $110,000 as well as the Capital gain of $15,000 at the applicable tax rates.

Members pays taxes only when they receive the distribution which is dividends.

The distribution of $25,000 each will be taxable in the hands of members as it is a dividend income.

Business Income and Capital gain of entity will have no impact for Linda and Ellie on their income tax returns.

7 0

3 years ago

A blank is a plan which an individual balances available resources and expense

Marina CMI [18]

A "budget" is a plan in which an individual balances available resources and expenses.

Budgeting is the essential way that you can take control of your accounts. Basically, a budget is a composed arrangement for how you will spend your cash. You can make a month to month or a yearly spending plan. The budget enables you to settle on money related choices early, which makes it less demanding to cover every one of your costs consistently. Budgeting reliably can enable you to turn your accounts around and start to fabricate riches.

7 0

3 years ago

Read 2 more answers