lower prices and better product quality
Answer:
All of the following statements about the geography of meat production in the United States and Canada are true EXCEPT: Consumer demand for organic foods has significantly decreased the amount of meat produced by most agribusiness firms.
Explanation:
Organic foods are grown without the use of synthetic additives like fertilizer and pesticides for plants, antibiotics and growth hormones for animals.
Consumer demand for organic products due to its health benefits has not significantly decreased the amount of meat produced by most agribusiness firms. Instead, it has created another lucrative business niche for meat production corporations.
Organic foods are now being produced to meet the demand for it along side with those that are not organic.
There is however a higher charge associated with organic foods.
Question Completion:
Cash received from bank loans was $10,000.
Revenues earned and received in cash were $9,000.
Dividends of $4,000 were paid to stockholders.
Expenses incurred and paid were $5,600.
Answer:
Jiminez, Inc.
Income Statement for the month ended March 31:
Revenue $9,000
Expenses 5,600
Net income $3,400
Dividends 4,000
Retained earnings during the year ($600)
Explanation:
Jiminez, Inc. paid more dividends to stockholders this month than it actually generated in net income. The excess amount of dividends must be from retained earnings carried forward from the previous month. In preparing the income statement for the month of March, Jiminez, Inc. must deduct all the expenses from its revenue to obtain the net income before tax. The bank loan does not form part of the items for the preparation of the income statement, as only temporary accounts are considered.
The Company's preliminary Net Income can be determined as $575.
Preliminary net income = Total Revenue - Total Expenses
= $575 ($4,230 - $3,655)
Revenue:
d. Sales Revenue $680
f. Service Revenue $2,870
i. Service Revenue $680
Total Revenue $4,230
Expenses:
a. Wages Expense $1,700
e. Utilities Expense $1,360
h. Travel Expense $115
k. Advertising Expense $480
Total Expenses $3,655
Thus, the company generated a preliminary net income of $575 for the period.
Learn more about determining net income at brainly.com/question/19850768
