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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

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Connie Shockey wants to put funds in an account that does not offer checking privileges because she has a tendency to overspend.
vlada-n [284]

Answer:

certificate of deposit.

Explanation:

A certificate of deposit is one that funds are deposited for a fixed period of time at a particular interest rate. Usually interest rate is determined by the amount being deposited.

Premature liquidation of the certificate of deposit attracts penalty.

This will be the ideal account for Connie Shockey since she does not want an account she can easily withdraw from.

The penalty charged on premature liquidation will serve as a deterrent of she wants to withdraw.

Certificate of deposit is a stable high yield form of investment that will give Connie good returns.

8 0
3 years ago
The main reason the New York Federal Reserve Bank President is always on the FOMC is _________.
krek1111 [17]

Answer:

The main reason the New York Federal Reserve Bank President is always on the FOMC is due to the importance of the New York Federal Reserve Bank

Explanation:

The body of the Federal Reserve System responsible for making monetary policy is the Federal Open Market Committee, FOMC

The Fed's monetary policy are executed primarily through the New York Fed and the other Federal Reserve Banks. The New York Fed does this mainly through Permanent Open Market Operations, providing lending facilities, and performing quantitative easing so as to ensure that the Fed unemployment, inflation, and interest rates policy targets are archived

The New York Fed is the primary agent through which the Fed intervenes in foreign exchange markets. The New York Fed also carries out all Fed open market transactions, and therefore is about the most important bank in the FOMC

The New York Federal is also the only one of the Federal Reserve banks that is a member of the Bank of International Settlement, provide gold storage for other foreign central banks and a good number of the largest banks in the United States are located in the New York Federal Reserve district, as

The main reason the New York Federal Reserve Bank President is always on the FOMC is therefore due to its uniqueness and the special responsibilities, functions and capacities of the New York Federal Reserve Bank

5 0
3 years ago
What is the simplest form of automation?
iVinArrow [24]

Answer:

The simplest form of automation is Robotic Process Automation (RPA).

Explanation:

The process refers to the development and implementation of technology to create and distribute goods and services with little human intervention is automation.

3 0
2 years ago
preparing tywin company's statement of cash flows for the most recent year, the following information is available: purchase of
Blizzard [7]

-$264,000

Explanation:

Below is a summary of the net cash flows from investing operations for the year.

flow of money from investments

Equipment purchase: $260,000

$87,000 was earned from the sale of equipment.

Land purchase: $91,000

-$264,000 in net cash flow was utilised for investing activities.

Sales are a cash inflow, so they would be added, whereas the purchase is a cash outflow, so it would be reflected as a minus sign.

To learn more about cash flows from the given link.

brainly.com/question/735261

#SPJ4

6 0
1 year ago
Describe three ways that globalization is having a negative impact on the environment
Alchen [17]

pollution

building up in countryside

over population

5 0
3 years ago
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