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Masja [62]
3 years ago
14

Reggie and Bebe own an apartment building in Portland, Oregon, with 8 identical units. They live in one and rent the remaining u

nits. Their rental income for the year was $45,000. They incurred the following expenses for the entire building: Advertising for available units $ 850 Maintenance 9,000 Repairs 7,500 Utilities 12,000 Depreciation 8,000 What amount of net income should Reggie and Bebe report for the current year for this
Business
1 answer:
pentagon [3]3 years ago
6 0

Answer:

$12,213

Explanation:

Calculation to determine What amount of net income should Reggie and Bebe report for the current year for this

NET INCOME

Rental Income $45,000

Advertising for available units $850

Maintenance $7,875

($9,000*7/8)

Repairs $6,562.5

($7,500*7/8)

Utilities $10,500

($12,000*7/8)

Depreciation $7,000

($8,000*7/8)

Net Rental Income $12,213

Therefore the amount of net income that should Reggie and Bebe should report for the current year is $12,213

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kvasek [131]
$2,989.12
Is the answer for your monthly budget
3 0
3 years ago
In 2020, the Merkel Company had revenues of $2,650,000 and costs of $2,150,000. During 2021, Merkel will be introducing a new pr
Neporo4naja [7]

Answer:

$92.000

Explanation:

<h2>1. The first step is to calculte the operating profits for the year 2020, following the next formula </h2>

(Revenues - costs) = Operating Profits.

<h3>YEAR 2020 </h3>

Revenues 2.650.000

Costs       2.150.000

--------

Operating profits 500.000

<h2>2. Same indications for the next year.</h2>

<h3>YEAR 2021</h3>

Revenues 2.915.000

Costs       2.323.000

--------

Operating profits 592.000

<h2>3. Calculate the diference between 2021 and 2020. </h2>

<em>592.000 - 500.000 = 92.000</em>

8 0
3 years ago
Hardware Suppliers reports net income of $149,000. Included in net income is a gain on the sale of land of $12,000. A comparison
vagabundo [1.1K]

Answer:

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $149,000

Adjustment made:

Less: Gain on the sale of land -$12,000

Less: Increase in accounts receivable -$19,000

Less: Increase in inventory -$12,000

Less: Decrease in accounts payable -$39,000

Total of Adjustments -$82,000

Net Cash flow from Operating activities                    $67,000

7 0
3 years ago
A company budgeted unit sales of 204,000 units for January, 2013 and 240,000 units for February 2013. The company has a policy o
sashaice [31]

Answer: 214800

Explanation:

The number of units that should be produced in January, 2013 in order for the company to meet its goals will be:

= Budgeted sales + Ending inventory - Beginning inventory

= 204000 + (240000 × 30%) - 61200

= 204000 + 72000 - 61200

= 214800

Therefore, 214800 units should be produced.

8 0
3 years ago
Which is the most common method for calculating credit card balances? A. Previous balance method, B. Adjusted balance method, C.
fenix001 [56]

The correct answer is C. Average daily balance method.

In average daily we consider balance interest or owed at the end of the day.

To calculate debt credit card we take the percentage of the total amount of current balance which will be termed as the interest then add one percent of the principal.

T o calculate for daily credit card balance we total the balance in the billing cycle everyday then you will divide your total with the number of days which in the cycle.

8 0
3 years ago
Read 2 more answers
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