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
masha68 [24]
2 years ago
11

The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash $ 1,230 Accounts Receivable

2,000 Prepaid Insurance 2,300 Notes Receivable (long-term) 3,000 Equipment 12,000 Accumulated Depreciation $ 2,600 Accounts Payable 5,420 Salaries and Wages Payable 1,000 Income Taxes Payable 2,900 Deferred Revenue 600 Common Stock 2,400 Retained Earnings 1,000 Dividends 300 Sales Revenue 42,030 Rent Revenue 300 Salaries and Wages Expense 21,600 Depreciation Expense 1,300 Utilities Expense 4,220 Insurance Expense 1,400 Rent Expense 6,000 Income Tax Expense 2,900 Total $ 58,250 $ 58,250 Required: Prepare an income statement for the year ended December 31. How much net income did the Sky Blue Corporation generate during the year
Business
1 answer:
solniwko [45]2 years ago
4 0

Answer:

Net Income                $ 7220

Explanation:

You might be interested in
Joy is taking out a car loan which she will pay back with interest. Which option will require her to pay the lowest amount in in
garri49 [273]
Unless the bankers are serious money moochers, the lowest interest (In Total Amount) will be:
C. Daily Compound
This is the most likely because the more time you take to pay your debt the more you have to pay in interest.
5 0
3 years ago
Helpful in assessing the risk of lending to investors for particular projects, which of the following calculations measures the
Degger [83]

Answer:

C. Financial risk ratios

Explanation:

Financial risk ratios are calculated to measure the financial risk of the company. It measure the financial capability of an entity. For lending purpose the lender has to ensure that is the borrower able to repay the borrowed amount and interest on it. The lender need to estimate the capability of the borrower for payment of loan back. These ratio care Debt to capital ratio, Coverage ratio etc.  

7 0
2 years ago
Read 2 more answers
Which of the five broad definitions of public opinion involves "rhetorical construction"?
Alexxandr [17]

Answer: Fiction

Explanation: According to some theorists, public opinion is a rhetorical construction. This means that it is a phantom, having no real link to "the public" as citizens. These theorists go on to claim that politicians and journalists tend to state that public opinion regarding a certain issue is concluded without any available evidence, or public's influence. However this is only one form of the definition of public opinion.

Other types of definitions include:

Public opinion is an aggregation: Journalists and politicians claim public opinion is the total of a lot of individual opinions.

Public opinion reflects the majority's beliefs: Theorists claim that public opinion is the equivalent of the values and beliefs of the majority.

Public opinion is discovered in groups clashing: Some theorists believe public opinion lies in power dynamics within a group, and how it coexists, or fails to do so, with other groups.

Public opinion reflects media: Theorists believe that public opinion is best gathered from what politicians, journalists and other influential elites believe.

6 0
3 years ago
The role of ______ control is to challenge the organization's beliefs and goals and to continuously monitor, test, and review st
RUDIKE [14]

Answer:

Informational

Explanation:

The role of "informational" control is to challenge the organization's beliefs and goals and to continuously monitor, test, and review strategies. Informational control is when a business gathers information and analyzes that information from different perspectives to come up with better strategy's in order to better the business itself.

Hope this helps.

4 0
2 years ago
Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a mi
cestrela7 [59]

Answer:

Cash flow from investing activities  

Cash received from sale of truck = $8,600

Cash received from sale of machine = $5,600

Cash paid for purchase of investment  = -$16,300

Net cash used by investing activities = ($2,100)

Explanation:

Given:

a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8,000 cash. The sale results in a $10,000 loss.

b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale results in a $3,000 gain

c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least $30,000

Cash flow from investing activities  

Cash received from sale of truck = $8,600

Cash received from sale of machine = $5,600

Cash paid for purchase of investment  = -$16,300

Net cash used by investing activities = ($2,100)

8 0
2 years ago
Other questions:
  • The board of directors of Capstone Inc. declared a $0.90 per share cash dividend on its $2 par common stock. On the date of decl
    15·1 answer
  • The Constitution sets out the authority and the limits of the branches of the government.
    10·1 answer
  • Gainsharing plans differ from profit-sharing plans in that:A. gainsharing plans use organization-wide performance parameters.B.
    10·1 answer
  • How to calculate marginal tax rate effective tax rate and average ​
    15·1 answer
  • BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized fo
    7·1 answer
  • Assume that the 4K and OLED television sets industry is perfectly competitive. Suppose a producer develops a successful innovati
    5·1 answer
  • The next dividend payment by ASAP, Inc., will be $2.00 per share. The dividends are anticipated to maintain a 4.00% growth rate,
    6·1 answer
  • Which country consumes the most chocolate per person?
    12·1 answer
  • Your manager wants to add more client pcs to an office, but there are not enough ports available. what device should be added to
    5·1 answer
  • armon apparels designs, manufactures, and distributes athletic apparel and accessories for men and women. the company has only n
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!