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masha68 [24]
3 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]3 years ago
4 0

Answer:

Net Income                $ 7220

Explanation:

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Customers learn to trust companies that consistently demonstrate good behavior. Those same companies can lose this position with
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Answer: True.

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A business brand earns a customer's trust gradually with time, by consistency and honesty on the part of the business brand. This customer trust can easily be lost, if the business brand is engaged in even a little scandal or reckless act.

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Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in an effort to entice the c
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I guess the correct answer is conversion rate.

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Liam, the photography editor of a national magazine, is looking through a series of pictures to find a model who seems strong an
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3 years ago
Riverbed Company sells goods that cost $320,000 to Ricard Company for $407,000 on January 2, 2020. The sales price includes an i
Alecsey [184]

Answer:

a) Journal entries to record the sale on January 2, 2020:

Debit Accounts Receivable with $407,000

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Credit Deferred Revenue (Installation Fee) with $38,500

Being sales of goods and installation services.

b) Income Statement for 1st Quarter of 2020

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Total Income - $387,750

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c) The revenue Shaw should recognize in relation to the sale to Ricard is $387,750 (goods and accrued installation fee).  The installation fee to be recognized is for 3 months only.

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7 0
2 years ago
which of these is not true regarding the special function performed by the external auditing profession?
Vladimir79 [104]

<u>It serves the interests of client management rather than the public.</u>

The special function performed by the external auditing profession is the attestation to the fairness of the financial statements of clients.

"The special function helps ensure the reliability and integrity of the financial reporting system. The auditing profession exists to serve the users of an organization's financial statements. Auditors need to remember that they are serving the public interest and not necessarily the interests of client management."

"The special function is a testament that the financial statements of their client are fair. This function serves all users of the financial statement, to ensure they all will be receiving reliable financial information."

To know more about Auditors click below:

brainly.com/question/13812517

#SPJ4

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1 year ago
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