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forsale [732]
2 years ago
9

You are provided with the following information for Sandhill Co., effective as of its April 30, 2022, year-end.

Business
1 answer:
Ray Of Light [21]2 years ago
7 0

Answer:

                            SANDHILL CO.

                        Income Statement

              For the Year Ended April 30, 2022

<u>Revenues</u>

Sales revenue                                      $6,200

<u>Expenses</u>

Cost of Goods Sold                $1,000

Depreciation expense            $315

Income tax expense               $175

Insurance expense                 $360

Interest expense                     $460

Salaries & Wages expenses  <u>$850</u>

Total Expenses                                     <u>$3,160</u>

Net Income                                           <u>$3,040</u>

<u />

                              SANDHILL CO.

                   Retained Earnings Statement

               For the Year Ended April 30, 2022

Retained Earnings, May 1, 2021              $1,700

Add: Net Income                                      <u>$3,040</u>  $4,740

Less: Dividends                                                       <u>$310    </u>

Retained Earnings, April 30, 2022                       <u>$4,430</u>

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Which of the following savings options pays an interest rate that changes with the market rate of interest?
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I am pretty sure that the answer is the money market account
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Which of the following is not an outcome of providing more responsive customer care?
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3 years ago
Accounts Debits Credits
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Answer:

a. Unadjusted Trial Balance

Accounts                   Debits   Credits

Cash                       $ 47,300

Accounts Receivable 10,400

Supplies                     3,400

Equipment               19,400

Accumulated Depreciation    $ 3,800

Salaries Payable                        

Common Stock                       28,000

Retained Earnings                    8,200

Dividend                     1,100

Service revenue                    54,000

Repairs and

maintenance exp $12,400

Totals                 $ 94,000 $ 94,000

b. Adjusted Trial Balance

Accounts                   Debits   Credits

Cash                        $ 47,300

Accounts Receivable 10,400

Supplies                        1,200

Equipment                  19,400

Accumulated Depreciation    $ 8,200

Salaries Payable                      20,700

Common Stock                       28,000

Retained Earnings                    8,200

Dividend                     1,100

Service revenue                    54,000

Repairs and

maintenance exp    12,400

Salaries expense    20,700

Depreciation Exp      4,400

Office supplies exp  2,200  

Totals                    $119,100 $ 119,100

3. Income Statement for the year ended December 31, 2021

Service revenue                    54,000

Repairs and

maintenance exp    12,400

Salaries expense    20,700

Depreciation Exp      4,400

Office supplies exp  2,200  39,700

Net income                         $14,300

4. Post-closing Trial Balance

Accounts                   Debits   Credits

Cash                        $ 47,300

Accounts Receivable 10,400

Supplies                        1,200

Equipment                  19,400

Accumulated Depreciation     $ 8,200

Salaries Payable                       20,700

Common Stock                        28,000

Retained Earnings                    21,400

Totals                      $78,300 $78,300

Explanation:

a) Data and Calculations:

Accounts                   Debits   Credits

Cash                       $ 17,000

Accounts Receivable 7,400

Supplies                     3,400

Equipment               12,000

Accumulated Depreciation    $ 3,800

Salaries Payable                        5,800

Common Stock                       22,000

Retained Earnings                    8,200

Totals                  $ 39,800 $ 39,800

1. March 12 Accounts receivable $20,400  Cash $33,600 Service revenue $54,000

2. May 2 Cash $17,400 Accounts receivable $17,400

3. June 30 Cash $6,000 Common stock $6,000

4. August 1 Salaries Payable $5,800 Cash $5,800

5. September 25 Repairs and maintenance expenses, $12,400 Cash $12,400

6. October 19 Equipment $7,400 Cash $7,400

7. December 30 Cash dividends $1,100 Cash $1,100

Adjusting entries:

Salaries expense $20,700 Salaries payable $20,700

Depreciation Expense $4,400 Accumulated Depreciation $4,400

Office supplies expenses $2,200 Supplies $2,200

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2 years ago
A product-focused process is commonly used to produce: A) high-volume, high-variety products. B) low-volume, high-variety produc
valkas [14]

Answer:

C. high-volume, low-variety products

Explanation:

 There are other types of processes. This process is completely developed around the product, it is considered a continuous process with high volume of products that have low variety. <em>It presents a high facility utilization (this is considered an advantage), organized by product, which receives a high-fixed price, but the variable cost is low.</em>

7 0
3 years ago
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