Based on the information given the net income for the year will be is : $2.9 million.
<h3>Net income</h3>
Using this formula
Net income=Dividend declared-Decrease in Ending Retained earning
Where:
Dividend declared=$4.4 million
Decrease in Ending Retained earning=$1.5 million
Let plug in the formula
Net income=$4.4 million-$1.5 million
Net income=$2.9 million
Inconclusion the net income for the year will be is : $2.9 million.
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Answer:
T must pay income taxes for the $3,000 he receives.
Explanation:
If the beneficiary of the disability benefits paid the premiums, then the money received is tax free. On the other hand, if the premiums were paid by someone else (in this case his employer), then the benefits will be taxed as normal income.
6400 is your answer. you can find it on quizlet
Answer:
Revenue Journal of Horizon Consulting Company
Date Invoice Account debited Dr Accounts receivable
<u> Cr Fees earned </u>
Oct. 2 321 Pryor Corp. 595
Oct. 3 322 Armor Inc. 310
Oct. 14 323 Pryor Corp. 205
Oct. 24 324 Rose Co. <u> 850 </u>
$1,960
Cash Journal of Horizon Consulting Company
<u>Date Invoice Account debited Dr Cash Cr Acc. receivable </u>
Oct. 29 321 Pryor Corp. 595 <u> 595 </u>
$595
Answer:
C) WIP InventoryWIP Inventory-Finishing
Explanation:
Cost of WIP is transferred through Molding to Coloring to the last process of the production finishing. After completing the finishing the balls are ready and the cost is transferred from WIP InventoryWIP Inventory-Finishing to Finished goods Inventory. So, the correct answer is C) WIP InventoryWIP Inventory-Finishing.
