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
emmainna [20.7K]
3 years ago
7

If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for th

e month of May? If there is a loss, enter it with parentheses or a negative sign.May 1: Prepaid rent for three months, $2,100May 5: Received and paid electricity bill, $70May 9: Received cash for meals served to customers, $1,530May 14: Paid cash for kitchen equipment, $3,780May 23: Served a banquet on account, $1,780May 31: Made the adjusting entry for rent (from May 1).May 31: Accrued salary expense, $3,260May 31: Recorded depreciation for May on kitchen equipment, $670
Business
1 answer:
tino4ka555 [31]3 years ago
7 0

Answer:

Net loss -$1,390

Explanation:

The computation of the net income is given below:

Service revenue    

On cash $1,530

ON credit $1,780

Service revenue $3,310

Less: Expense    

Utilities expense  -$70

Rent expense  -$700

Salaries expenses  -$3,260  

Depreciation expense -$670

Total expenses -$4,700

Net loss -$1,390

You might be interested in
Grizzly Company had Retained Earnings at December 31, 2018 of $300,000. During 2019, the company had revenucs of $600,000 and ex
scZoUnD [109]

Answer:

b. $358,500

Explanation:

Given;

Retained Earnings at December 31, 2018 = $300,000

In 2019,

Revenue = $600,000

Expenses = $525,000

Declared and paid dividends = $16,500

Retained earnings on the balance sheet as of December 31, 2019

= $300,000 + $600,000 - $525,000 - $16,500

= $358,500

The right option is b. $358,500

3 0
3 years ago
Trying to get the answer to this
alex41 [277]

Fam you need to give a pic of it or a link or something cus i cant help when u ask for da answer to notin

6 0
3 years ago
Tell me about one of your most passionate beliefs and explain how it has an impact on the way you think, behave, attend events,
WITCHER [35]

Answer:

One of my most passionate belief is "Fail Better". This is the belief which I developed since childhood, my family kept on saying this me when I was just 10 years old. Since then, It has been deeply rooted and firmly suited in my mind. It has influenced me from my childhood, I never felt hesitated in taking risks, trying new ideas, things and adventures in my whole life. This has definitely impacted the way I think, behave and communicate with others. This belief was then further been transformed and translated into "Fall seven times, Get up eight". I have followed these rules very strongly in my whole life.  I have started many small businesses when I was in college, almost I failed in them but I learnt so many things which none could have taught me.

5 0
3 years ago
A monopoly A. ​doesn't lose any sales when it raises its price. B. must have a patent to protect its products. C. produces the m
Ugo [173]

Answer:

A. ​doesn't lose any sales when it raises its price

Explanation:

  • As monopoly is ruled by one set of prices and they are price makers thus even f the prices rise the price will be set above the marginal cost to maximize the profits. Thus a monopoly does not lose its market share as it acts as a single dominating factor in the supply and trade of the goods and services. And it stipulates the financial dealing through a single seller.
6 0
3 years ago
Alison Skateland, a real estate broker in Yuba City, California, has recently become interested in the sale of business opportun
Dafna1 [17]

Answer: the correct answer is A) If real property is involved in the sale, the broker (Alison, in this case) usually treats the sale of the business and sale of the land/building as two separate and concurrent transactions with two concurrent and contingent escrows.

Explanation:

The sale of business opportunities may involve the sale of only personal property.

Alison, in dealing with the sale of business opportunities, must remember to inform the purchaser of the various governmental agencies that the purchaser should contact for required permits, licenses, and clearances. These agencies include the IRS, State Board of Equalization, State Department of Benefit Payments, State Department of Industrial Relations, and various other county and municipal agencies.

The sale of a business opportunity includes the business's stock, trade fixtures, and trade name, a competition agreement, and lease assignment. While such a sale also includes the goodwill of a business, a monetary value cannot be placed on the goodwill.

7 0
2 years ago
Other questions:
  • What would one use Webex.com for? A. To distribute e-mails to a mailing list B. To post an announcement about a convention C. Fo
    7·1 answer
  • When you buy stock are you guaranteed profit?
    6·1 answer
  • hich of the following statements is true? The denominator used in computing earnings per share represents the shares of common s
    9·1 answer
  • Match the different categories of income to the calculation used to derive them.
    6·2 answers
  • To assess the current value of a lump-sum retirement benefit that will be received in 10 years, use the __________ calculation.
    8·1 answer
  • Martha is walking from her office building to her car in a torrential downpour with an umbrella manufactured by Umbrellas USA, I
    7·1 answer
  • Payment by check is an important internal control over cash payments because
    12·1 answer
  • A teacher buys 4.25 ounces of a compound for an experiment. The compound costs $5.76 per ounce. The teacher pays with a $50 bill
    15·1 answer
  • Michael is the project manager in a manufacturing company. He wants his organization to use technology for higher revenue and pr
    8·2 answers
  • What are some aspects that you'd want to include in a pitch to a venture capitalist?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!