DaaS is utilized for provisioning critical data on demand.

Les Stanley established an insurance agency on July 1, 20Y5, and completed the following transactions during July: Opened a busi

crimeas [40]

Answer:

A. Net Income = $22,790

B. Shareholders' equity balance is = $69,490

Explanation:

Requirement A:

Les Stanley

Income Statement

For the year ended, July 31, 2015

Revenues:

Fees Earned $28,500 (1)

Expenses:

Rent expenses $2,600 (3)

Automobile Expense $2,000 (4)

Office Salaries $4,200 (5)

Miscellaneous expense$ 800 (6)

Interest Expense $ 110 (7)

Total Expenses $5,710

Net Income $22,790

Note - 1: Fees earned = $28,500 (Journal 3)

2. Common stock = $50,500 (Journal 1)

3. Rent expense (Journal 4)

4. Automobile expense (Journal 5)

5. Office salaries (Journal 7)

6. Miscellaneous expense (Journal 6)

7. Interest on payable (Journal 8)

8. Dividends (Journal 10)

Requirement B:

Les Stanley

Statement of shareholders equity

For the year ended, July 31, 2015

Particulars Share R. E* Total

Balances, July 1, 2015 $0 0 $0

Add: Issued Capital $50,500 (2) 0 $50,500

Add: Net Income $0 $22,790 $22,790

Less: Dividends (8) $0 $(3,800) $(3,800)

Balances, July 31, 2015 $50,500 $18,990 $69,490

Therefore, shareholders' equity balance is = $69,490

5 0

3 years ago

A young couple wants to have a college fund that will pay $35,000 at the end of each half-year for 8 years. (a) If they can inve

Monica [59]

Answer:

$6,046.40

Explanation:

First, find the PV of the $35,000 withdrawals annuity at the time of last investment(end of 18 years). This can be solved with a financial calculator using the following inputs;

Recurring semiannual withdrawals; PMT = 35,000

Total duration of withdrawals; N = 8*2 = 16

Semiannual Interest rate; I/Y = 7%/2 = 3.5%

One time cashflows ; FV = 0

Compute present value; PV(at yr18) = $423,294.088

Next , use the $423,294.088 as your FV goal at the end of year 18.

Future value at yr18; FV = $423,294.088

Total duration of deposits; N = 18*2 = 36

Semiannual Interest rate; I/Y = 7%/2 = 3.5%

One time cashflows ; PV = 0

Compute recurring payment; PMT = 6,046.402

Therefore, they need to invest $6,046.40 at the end of each 6-month period.

7 0

3 years ago

Economies of scale can arise from: Group of answer choices High prices on bulk purchases of raw material inputs and component pa

Alex787 [66]

Answer:

An advantage gained by spreading fixed production costs over a large production volume.

Explanation:

Economies of scales refer to that scale where the larger quantity of an output having similar level fo fixed cost cause in less cost per unit. It could be occured from an advantage that could be benefit by distributing the fixed production cost over and above to the wider production volume

Therefore the above statement should be considered

8 0

3 years ago

Urshela Company paid four months insurance on October 1, 2017 for $13,200. Urshela originally recorded the full insurance paymen

puteri [66]

999 trillion dollars in a year

8 0

3 years ago

Assume that prosecutors allege that 20 percent of youth were exposed to vaping because of juul’s actions, and juul counters that

DaniilM [7]

Given the circumstances mentioned by Juul's behavior, the framing bias would be the bias used in this decision-making process.

<h3>What is a bias in decision-making?</h3>

This phrase is used to explain the kind of bias that individuals would have to exhibit on how they would take in information and how they would be able to develop opinions.

Framing bias is a kind of prejudice that has to do with the bias that results from how circumstances are presented and are often not created by the facts that are given in situations.

To learn more about decision-making bias.

brainly.com/question/3078929

#SPJ1

3 0

2 years ago