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
kirza4 [7]
3 years ago
6

A company started the year with the following: Assets $104,000; Liabilities $34,000; Common Stock $64,000; Retained Earnings $6,

000. During the year, the company earned revenue of $5,400, all of which was received in cash, and incurred expenses of $3,200, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,400 to owners. Assume no other activities occurred during the year. What was the amount of net income for the year?
a. $3,200.
b. $2,200.
c. $1,400.
d. $5,400.
Business
1 answer:
Leona [35]3 years ago
8 0

Answer:

b. $2,200.

Explanation:

Net income = Revenue - Expenses

Net income = $5,400 - $3,200

Net income = $2,200

Therefore, the amount of net income for the year is $2,200

You might be interested in
Which of the following is NOT a goal of operations management? (A) Understanding the drivers of customer utility (B) Match suppl
rodikova [14]

Answer:

The answer is A.

Explanation:

Operations management involves all activities which produce and deliver goods and services. Operation is a core function in any organization.

The primary objective of operations management is to make use of the organizational resources to generate or produce goods and services.

All options except option A(Understanding the drivers of customer utility) are goals of operation management

8 0
4 years ago
According to the Fisher effect, if the "real" rate of interest in a country is 3 percent and the expected annual inflation is 8
Pachacha [2.7K]

Answer:

11.24%

Explanation:

Fisher equation:

(1 + nominal interest rate) = (1 + real interest rate) x (1 + expected annual inflation)

1 + nominal interest rate = 1.03 x 1.08

--> Nominal interest rate = 11.24%

3 0
3 years ago
If new york city imposed a 50 cent tax on soft-drink beverages that contain sugar or high-fructose corn syrup, it would:_____.
Serjik [45]

If new york city imposed a 50 cent tax on soft-drink beverages that contain sugar or high-fructose corn syrup, it would decrease the demand of the soft-drink beverages.

Given that new york city imposed a 50 cent tax on soft-drink beverages that contain sugar or high-fructose corn syrup.

We are required to find the effect of 50% tax on soft-drink beverages that contain sugar or high-fructose corn syrup.

When 50% tax is imposed on soft-drink beverages then it will increase the price of soft drink beverages, which will decrease the demand of soft drink beverages because now the drink become costly for the customers to buy.

Suppose the initial price of 1 soft drink is $100.

Now tax is applied so tax would be 100*50%=50

Price after tax=100+50

=$150

Now consumers have to pay $150 for 1 drink in place of $100.

Hence if new york city imposed a 50 percent tax on soft-drink beverages that contain sugar or high-fructose corn syrup, it would decrease the demand of the soft-drink beverages.

Learn more about tax at brainly.com/question/25783927

#SPJ4

7 0
2 years ago
A more professional focus of running events started to take place during the late 1800s. The catalyst for such a professional fo
UkoKoshka [18]

Answer: D. a desire to increase profits

Explanation:

During the late 1800s, a more professional focus of running events began to take place. The main reason for such a professional focus emphasis occurred due to a desire to increase profits.

It was realized that having a more professional focus on running events could bring about more funds and also bring about more intersted spectators.

3 0
3 years ago
George is going shopping for a new car to replace his old one. Which of these costs would be
uranmaximum [27]

The cost that would relevant in the choice of a new car is the the cost to operate the new vehicles.

<h3>What cost would be relevant?</h3>

The cost that would be relevant in the choice of a new car is the cost that is dependent on the type of car chosen. The cost to operate the new car would depend on the type of car chosen. If George buys a more fuel efficient car, the cost of running the car would be cheaper.

To learn more about cost, please check: brainly.com/question/27127934

4 0
2 years ago
Other questions:
  • Which life insurance policy would be eligible to include an automatic premium loan provision? increasing term level term decreas
    10·1 answer
  • Joan is a single individual who works for Big Petroleum, Inc. During all of 2019, she is stationed in West Africa. She pays West
    6·1 answer
  • An asset is classified as goodwill on the balance sheet when a company purchases an asset at greater than fair market value.
    7·1 answer
  • Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm’s capacity. If he adds one mor
    8·1 answer
  • f a company is considering the purchase of a parcel of land that was acquired by the seller for $85,000, is offered for sale at
    13·1 answer
  • 23 points left out<br><br> :$&amp;:$:&amp;,&amp;,&amp;,,
    6·2 answers
  • August 1 M. Harris, the owner, invested $8,000 cash and $34,400 of photography equipment in the company. August 2 The company pa
    12·1 answer
  • Step 4 of the planning process is plan development. This step involves generating courses of action, identifying required resour
    7·1 answer
  • Buying office space is ______________ in the long run-in comparison to leasing. Which is the correct answer?
    6·1 answer
  • The ideal outcome of the _____ process group is to complete a project successfully by delivering the agreed-upon project scope w
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!