All categories

3 years ago

These financial statement items are for Riverbed Company at year-end, July 31, 2022.

Business

1 answer:

Rama09 [41]3 years ago

3 0

Answer:

Riverbed Company

Income statement for the year July 31, 2022

Service revenue 61,900

Add Other Incomes

Rent revenue 8,500

70,400

Less Expenses

Salaries and wages expense 52,000

Utilities expense 22,600

Depreciation expense 3,500 (78,100)

Net Income / Loss (7,700)

Explanation:

In the Income Statement, we record Revenues and Incomes only. This Statement is used to calculate the Profit earned during the Reporting Period.

You might be interested in

what are 2 items of information that job applicants can obtain fro the mission statement of an organization

Lady_Fox [76]

A mission statement is a short statement of an organization's purpose, identifying the scope of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation.[1][2] It may include a short statement of such fundamental matters as the organization's values or philosophies, a business's main competitive advantages, or a desired future state—the "vision".[1][3]

A mission is not simply a description of an organization by an external party, but an expression, made by its leaders, of their desires and intent for the organization. The purpose of a mission statement is to focus and direct the organization itself. It communicates primarily to the people who make up the organization—its members or employees—giving them a shared understanding of the organization's intended direction. Organizations normally do not change their mission statements over time, since they define their continuous, ongoing purpose and focus.[4]

8 0

3 years ago

Read 2 more answers

When both supply and demand shift to the left, the equilibrium Group of answer choices quantity is indeterminate. price always f

BabaBlast [244]

Answer:

quantity always falls

Explanation:

In the case when the supply and the demand shifted to the left so the equilibrium would price would not be determined also the equilibrium quantity would decline or fall

So according to the given situation, the third option is correct as it shows the quantity fall situation i.e. considered and relevant too

5 0

3 years ago

Elite Trailer Parks has an operating profit of $200,000. Interest expense for the year was $10,000; preferred dividends paid wer

11Alexandr11 [23.1K]

Answer:

a. Earnings per share = (Operating profit - Interest expense - Tax - Preferred dividends) / Common stock outstanding

Earnings per share = ($200,000 - $10,000 - $61,250 - $18,750) / $20,000

Earnings per share = $110,000 / 20,000 Shares

Earnings per share = $5.5 per share

Common dividends per share = Dividend paid / Common stock outstanding

Common dividends per share = $30,000 / 20,000 Shares

Common dividends per share = $1.50 per share

b. What was the increase in retained earnings for the year?

Increase in retained earnings = $110,000 - Common dividend paid

Increase in retained earnings = $110,000 - $30,000

Increase in retained earnings = $80,000

So, the increase in retained earnings for the year is $80,000.

3 0

3 years ago

There are 100 used laptop g for sale on the market. 40% of them are in good condition, and the rest of them are broken, which is

NNADVOKAT [17]

Answer:

In equilibrium the maximum price set for a broken laptop to be sold is $600

Explanation:

According to the given data we have the following:

It is given that 40% laptops are in good condition. This implies that 60% are in bad condition.

In ordert to calculate the maximum price set for a broken laptop to be sold we would have to calculate the expected price that the buyers will be willing to pay for a laptop as follows:

Expected price=0.60($2000)+0.40($600)

Expected price=$1,200+$240

Expected price=$1,440

As the owners of good laptops are willing to sell their laptops for $1,800, whis is more that $1,440, they will not sell their products.

This implies that only bad laptops are sold in the market. The willingless to pay for the bad laptops is $600

Therefore, In equilibrium the maximum price set for a broken laptop to be sold is $600

7 0

3 years ago

A drop in the market price of a firm's common stock will immediately affect its:

Illusion [34]

It will directly affect its market capital

7 0

3 years ago