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ki77a [65]
3 years ago
12

Joe and Janice run an accounting firm. The firm receives $5,000,000 as income from its services. It pays an annual rent for offi

ce premises amounting to $240,000. The salary paid to staff amounted to $100,000. Other operating expenses added up to $24,000. What is the net income earned by their business? The total expenses of the accounting firm amounted to $ . Thus, the net income earned by the business is $ .
Business
1 answer:
Alexus [3.1K]3 years ago
3 0

Answer:

Expenses:  $364,000.00

Net income :  $4,636,000.00

Explanation:

The total expenses will be the sum of

Rent     $240,00.00

Salaries     $100,000.00

Operating expenses   <u>$24,000.00</u>

Total expenses   <u>$364,000.00</u>

Net income is the total revenue - total expenses

=$5,000,000.00  - $364,000.00

=$4,636,000.00

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Explanation: The BigFive Inc company, when selecting employees carefully emphasizing the search for skills and above all commitment to the values of customer service and quality of the company, in the long term it was highly benefited since its employees are trained according to the culture Organizational of the company and they not only know how to do their job, but they are also excited and committed.

8 0
3 years ago
It is important when you first start using social media to create a trial because?
Scrat [10]
The correct option is D.
When one is about to start using a particular social media, it is needful that one first creates a trial for some important reasons. Firstly, creating a trial gives one the opportunity to become familiar with the program, so that one will know what using the media entails. Creating a trial also gives one the opportunity to decide whether the social media is fit for one's needs or not. During this period, one will surely make some mistakes, but their impacts will be minimized because one is just trying out the social media.
4 0
3 years ago
Weiss Lenscorp, a maker of camera lenses, provides a 3-year warranty against defects on all of its products. In fulfilling its w
GuDViN [60]

Answer:

warranty liablity account ending balance:  3,510,000

Explanation:

In total, we expect a warranty expense for 6% for each sale distributed among three years.

For the 32,000,000 million sales for 2019 we expect:

32,000,000 x 6% = 1,920,000 warranty expense.

                                   warranty liaiblity

                                   debit       credit

beginning                                3,370,000

expenditures          1,780,000

warranty expense  <u>                 1,920,000</u>

balance                                    3,510,000

6 0
3 years ago
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Answer:

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It can be used to determine that the income or income of the consumer is exactly equal to the expense (purchase) of goods, for the determined period of consumption. In other words, by adding the value spent on the acquisition of goods "x" and goods "y". To have such values it is enough to multiply the number of possible units to acquire - in each of the points - by their respective price and then add them; This can be done at any point in the price line.

4 0
3 years ago
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The prices of Japanese goods will increase.

<h3>Economic Principles of Demand and Supply </h3>

Following the principles of demand and supply, the higher the price, the higher the quantity supplied (all other factors remaining constant).

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See the link below for more about the law of supply:
brainly.com/question/4803223

3 0
3 years ago
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