The Company's preliminary Net Income can be determined as $575.
Preliminary net income = Total Revenue - Total Expenses
= $575 ($4,230 - $3,655)
Revenue:
d. Sales Revenue $680
f. Service Revenue $2,870
i. Service Revenue $680
Total Revenue $4,230
Expenses:
a. Wages Expense $1,700
e. Utilities Expense $1,360
h. Travel Expense $115
k. Advertising Expense $480
Total Expenses $3,655
Thus, the company generated a preliminary net income of $575 for the period.
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Answer:
Gross profit equals the difference between sales revenue and cost of goods sold.
Explanation:
The gross profit is calculated by subtracting total cost of goods sold from total sales. Both the total sales and cost of goods sold are found on the income statement.
Gross profit = Sales revenue - cost of goods sold.
It is one of three profit metrics used in business statement reports
Answer:
The goodwill is $1.1 million
Explanation:
In this question, first we have to compute the net asset which is shown below:
Net asset = Total asset - total liabilities
where,
Total asset = Land + building + inventory
= $1.7 million + $3.4 million + $2.2 million
= $7.3 million
And, the total liabilities = long term note payable = $1.5 million
So, the net asset would equal to
= $7.3 million - $1.5 million
= $5.8 million
Now the goodwill equal to
= Cash purchase price - net asset
= $6.8 million - $5.8 million
= $1.0 million
H.R manager includes providing advice to managers on how to reduce the organization’s costs.
An HR manager is a member of staff who oversees all activities related to hiring and selection, training and development, employee relations, and salary and benefits for the company.
Therefore, the HR manager would advise management on how to lower the costs of the company, particularly in areas like compensation and benefits, training, and development.
Managers of human resources plan, organize and oversee an organization's administrative operations. They supervise the hiring, interviewing, and onboarding of new employees, assist chief executives with strategic planning and act as a liaison between management and personnel in a business.
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Answer:
$574.71 billion.
Explanation:
The formula for calculating amount of deposits is as follows:
where,
D = Deposits
rr = required reserve rate
ER/D = excess reserve rate
C/D = non-bank currency to deposits
D = 574.712644
D = 574.71
Therefore, the amount of deposits is $574.71 billion.
