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2 years ago

Using the information below, calculate net income for the period:

Business

1 answer:

kkurt [141]2 years ago

4 0

Answer:

See explanation

Explanation:

The correct choice is not available : Net Income is $511,000

We determined this as follows :

Income Statement for the ended December 31

Sales $1,323,000

Less Cost of Sales

Opening Finished Goods Inventory $55,000

Add Cost of goods manufactured $559,000

Less Ending Finished Goods Inventory ($60,000) ($554,000)

Gross Profit $769,000

Less Expenses

Operating expenses ($258,000)

Net Income $511,000

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Stone Culture Corporation was organized on January 1, 2017. For its first two years of operations, it reported the following:

HACTEHA [7]

Answer:

Statement of retained earnings

For the year ended 2017

Retained earnings, January 1, 2017 $0

Add: Net Income $54,000

Less: Dividends $22,000

Retained earnings, December 31, 2017 $32,000

Statement of retained earnings

For the year ended 2018

Retained earnings, January 1, 2018 $0

Add: Net Income $59,000

Less: Dividends $34,000

Retained earnings, December 31, 2018 $25,000

7 0

3 years ago

Analysts who follow Howe Industries recently noted that, relative to the previous year, the company's net cash provided from op

tamaranim1 [39]

Answer:

Option B The company made large investments in fixed assets.

Explanation:

The reason is that the reaminder of the options talk about the increase of the cash not a decrease in cash amount. If the company cuts dividend then it is retaining cash, if the company is raising finance then it is increasing cash or if the company is selling its division or assets then it is raising cash.

These things constitutes to increase in cash flow.

The decrease is cash occurs when the company invests (cash outflow). So the company is making cash outflows which means cash level will decrease.

4 0

2 years ago

Which of the following people are structurally unemployed? Select all answer options that apply. Choose one or more: A. A worker

a_sh-v [17]

Answer:

Structural unemployment is present in case of A, B, C, and D.

Explanation:

Structural unemployment refers to the situation when the workers are unemployed because of the mismatch between the skills they possess and the skills the employers are looking for.

Unemployment caused by drought cannot be classified as structural unemployment. The rest of the examples involves cases of structural unemployment.

8 0

2 years ago

An investment adviser structured as a partnership lends money to a customer to buy recommended securities. Under NASAA's Model R

Eva8 [605]

A) acceptable, provided the securities are used as collateral for the loan and the loan conforms to the provisions of Regulation T.

B) acceptable, provided the loan is made under the provisions of Regulation T of the Federal Reserve.

C) unethical.

D) acceptable, provided the securities are used as collateral for the loan.

Answer: Unethical

Explanation: Based on the model and policy of the North America Securities Administrator's Association, the investment adviser cannot lend money to a customer to purchase recommended securities under the guise of being partners, such behavior is deemed UNETHICAL and in violation of the rule binding the practices and investment advisers and investment adviser representatives.

Customers can purchase securities by taking loans from recommended or regulated lender, broker or bank.

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3 years ago

Notamos que, por vezes, os preços dos itens nos supermercados variam em algumas casas de centavos. Contudo, devido à proximidade

saveliy_v [14]

Answer:

People usually prefer saving their time by buying at a place where they can find all the necessity products, they pay a few cents more for a single product just because they don't have to visit another store in order to buy the remaining goods.

Explanation:

Sometimes we pay a few cents extra for a product as compared to the same product available somewhere else at a cheaper price because a great variety of product is available.

6 0

3 years ago