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Varvara68 [4.7K]
3 years ago
5

On December 31, Hawkin's records show the following accounts. Equipment $ 3,000 Cash 2,400 Rent Expense 1,500 Accounts Receivabl

e 600 Services Revenue 16,000 Accounts Payable 6,000 Wages Expense 8,000 Utilities Expense 700 Use the above information to prepare a December income statement for Hawkin.
Business
1 answer:
tino4ka555 [31]3 years ago
8 0

Answer:

$5,800

Explanation:

Calculation to prepare a December income statement for Hawkin.

INCOME STATEMENT

Revenues:

Services revenue $16,000

Expenses:

Rent expense $1500

Wages expense $8000

Utilities expense $700

Total expenses $10200

Net income $5800

($16,000-$10,200)

Therefore December income statement for Hawkin is $5,800

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Answer:

A. higher

Explanation:

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thus, this clearly reflects that when the market is high for stock returns then the dividend yield is also high.

This is basically the proportional reaction, as when the stock return is higher whether in terms of value addition or cash returns then only the dividend return would also be higher.

Correct option in this case will be:

A. Higher.

6 0
3 years ago
Jay Bird is a partner in Soundview Partnership. The adjusted basis of his interest is $19,000, of which $15,000 represents his s
Marta_Voda [28]

Answer:

Ordinary income of $6,000; Capital gain of $18,000

Explanation:

Calculation to determine the amount and character of his gain

First step is to calculate the The total gain on the sale of his partnership

Using this formula

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Now let determine the amount and character of his gain

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Therefore the amount and character of his gain will be: Ordinary income of $6,000; Capital gain of $18,000

4 0
2 years ago
Rachel is going to the mall to purchase a wedding gift for a coworker. Based on research, which type of product is she likely to
Umnica [9.8K]

Answer:

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8 0
3 years ago
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3 0
3 years ago
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Answer:

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