1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
loris [4]
3 years ago
14

Healy Corporation recorded service revenues of $200,000 in 2014, of which $80,000 were on credit and $120,000 were for cash. Mor

eover, of the $80,000 credit sales for 2014, Healy collected $20,000 cash on those receivables before year-end 2014. The company also paid $40,000 cash for 2014 wages. Its employees also earned another $20,000 in wages for 2014, which were not yet paid at year-end 2014.
Compute the company’s net income for 2014.
Business
2 answers:
Luba_88 [7]3 years ago
6 0

Answer:

$140,000

Explanation:

Computation of the company’s net income for 2014.

Using this formula

Net income=Revenue – Expenses

Let plug in the formula

Net income=$200,000 - $40,000+$20,000

Net income= $140,000

Therefore the company’s net income for 2014 will be $140,000

vichka [17]3 years ago
3 0

Answer:

$140,000

Explanation:

You might be interested in
For students not wanting a traditional major in marketing or accounting, for example, YSU decided to create a general business m
ahrayia [7]

Answer:

The correct approach is "Customization".

Explanation:

  • Customization continues to recognize a consumer preference but instead wants to increase consumer satisfaction whilst also implementing the merchandise to individual communities.
  • Configuration of the software systems throughout meeting personal eligibility criteria. Before the next organization could streamline its operational activities utilizing software applications, one must first ensure that the computer seems to be capable of automating together all procedures it requires.
7 0
3 years ago
Using the information below, compute the raw materials inventory turnover:
fredd [130]

Answer:

The raw material inventory turnover is 9.2 times or 40 days

Explanation:

This problem requires us to compute raw material inventory turnover. The inventory turnover ratio is calculated by dividing the inventory used for a period by the average inventory for that period. Average inventory is used instead of ending inventory because many companies' merchandise fluctuates greatly throughout the year.

So RM inventory turnover = RM used/Average inventory

                                            = 104,600/11,350*

                                            = 9.2 times or 40 days**

* Average inventory = (9,900+ 12,800)/2

** (365/9.2) = 40 days

5 0
3 years ago
Advantages corporations brought to the American consumer did not include:
kap26 [50]
I believe that you forgot the options, but i think i know them.

So, one of then is that it employed more workers: true they did bring it. Another option is that they brought lower prices: true as well
another option is that they brought better quality products, and this is also sometimes true.
<span>
The correct answer is : monopolies, which in any case would not be an advantage for the consumer.
</span>
4 0
3 years ago
Golddigger Services, Inc. provides services to clients. On May 1, a client prepaid Golddigger Services $60,000 for 6-months serv
slavikrds [6]

Answer:

C) Credit to Unearned Management Fees for $62,000.

Explanation:

* There is an Inconsistency with the amount of fee mentioned in Question and In options $60,000 and 62,000 respectively.

The Service fee is received in advance and the service is not been performed. You can record the revenue when you perform the service against the amount received. So, amount 62,000 will be the Unearned Management fee and it will be a liability and the Journal transaction for this event will be as follows:

Dr. Cash                                            $62,000

Cr. Unearned Management Fees   $62,000

So the correct option is C) Credit to Unearned Management Fees for $62,000.

8 0
3 years ago
Which would be considered liabilities? Check all that apply.
Amanda [17]

Motorcycle loan, car loan, credit card bill, mortgage.

If you own your home, that would be considered an asset. Liabilities are financial obligations, or things that you will be required to pay.

3 0
3 years ago
Read 2 more answers
Other questions:
  • Jenna, a 10-year-old, has a mental structure, or schema, about what typically happens when you go out to eat in a restaurant. he
    6·1 answer
  • Ron is a salesperson and is visiting one of his largest clients. Before the visit, he reviewed the client's past purchases. Ron
    5·1 answer
  • Which option lists the steps to generate a weather forecast in the correct order?
    7·1 answer
  • Terry, who has been an employee in your department for about six months, can be careless aboutsafety. He hasn't been involved in
    15·1 answer
  • The law of comparative advantage explains why a. specialization and exchange will make it possible for trading partners to expan
    9·1 answer
  • Matthew buys a vehicle that is under a three-year, 36,000-mile factory warranty from Kim after she has owned it for two years an
    5·1 answer
  • In a set of statistics the _____ is the middle number
    15·1 answer
  • Which of the following costs of publishing a book is a fixed cost?
    10·2 answers
  • During October, a firm had the following transactions involving revenue and expenses. Paid $1,400 for rent for October Provided
    7·1 answer
  • One year ago, Richard purchased 40 shares of common stock for $10 per share. During the year, he received one dividend payment i
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!