Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
Before preparing the income statement, we have to compute the net income or net loss for the given period which is shown below:
Net income = Service revenue - Salaries Expense - Supplies Expense - Rent Expense - Depreciation Expense - Delivery Expense
= $245,000 - $104,000 - $17,000 - $23,000 - $38,000 - $15,000
= $48,000
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
The branding Strategy that was used by Hormel is known as the multi product branding.
<h3>What is branding?</h3>
It should be noted that branding simply means the process of creating a strong, positive perception of a company.
In this case, the branding srategy that was used by Hormel is known as the multi product branding.
Learn more about branding on:
brainly.com/question/1234049
The state of Texas encourages the parties to resolve all conflicts and disputes through alternative dispute resolution procedures such as mediation.
Mediation is an act or process of mediating by helping to settle a dispute or create agreement when there is conflict between two or more people or groups. This conflict is usually settled when the parties meet with a mutually selected impartial and neutral person who assists them in the negotiation of their differences.
Texas in United States, encourages the parties who are yet to resolve all conflicts and disputes between them, by mediation. As mediation will help them in settling down their differences.
Hence, mediation is quite necessary in order to resolve all conflicts and disputes.
To learn more about mediation here:
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Answer and Explanation:
The journal entries are shown below
1.
On Denver books
Equipment Dr $17,000
Accumulated depreciation $60,000
Loss on sale of equipment $3,000
To Equipment $80,000
(Being equipment recorded)
On Bristol books
Equipment Dr $17,000
Accumulated depreciation $25,000
To Gain on sale of equipment $10,500
To Equipment $31,500
(Being equipment recorded)
2.
On Denver books
Equipment Dr $20,000
Accumulated depreciation $60,000
To Equipment $80,000
(Being equipment recorded)
On Bristol books
Equipment Dr $6,500
Accumulated depreciation $25,000
To Equipment $31,500
(Being equipment recorded)
Answer:
d. 96,000
Explanation:
Provided required rate of return on investments of $800,000 = 12%
Now desired profit = $800,000 X 12% = $96,000
therefore when fixing the price per unit this profit shall be added, and then reverse calculation is done.
With this we can get the desired profit.
At the last the total of cost and profit shall be divided by number of units to get the selling price per unit.
Therefore desired profit in dollars = $96,000
