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
eimsori [14]
2 years ago
8

At the end of its first month of operations, a company reported Revenue of $37,000. It also reported Wages Expense, $6,000; Rent

Expense, $5,000; and Utilities Expense, $1,000. Calculate net income reported on the income statement at month-end.
Business
1 answer:
Alexxx [7]2 years ago
8 0
Net income = Total revenues — Total expenses
You might be interested in
On January 2, 2020, Howdy Doody Corporation purchased 18% of Ranger Corporation's common stock for $52,000. Based on its ownersh
Arlecino [84]

Answer:

The Total amount is shown in the income statement $34,240

Explanation:

The computation of the amount that should be presented in the 2020 income statement is shown below:

Dividend collected by Howdy Doody corporation (18% of $68,000) $12,240

rise in Fair value of Stock credited to the income statement ($74,000 - $52,000) $22,000

The Total amount is shown in the income statement $34,240

8 0
3 years ago
enny has applied for a loan to purchase a home and learns that she is unable to qualify for any loan other than a high-cost mort
nataly862011 [7]

Answer: C. MortgageMax may pay the counseling fees, but is prohibited from steering Jenny towards a particular counselor or allowing her to complete counseling from one of its affiliates.

Explanation:

MortgageMax is violating the law in recommending a particular counselor and recommending one of its affiliates. Lenders are not allowed to direct a loan candidate to a certain counselor in order to avoid any unfortunate situations that arise from the counselor being partial to the lender.

Lenders are also prohibited from offering the counselling via an affiliate for the same reason above. They are however, allowed to pay for the counselling.

5 0
3 years ago
You have $1 to spend on a vending machine snack. a bag of chips will cost you $1 and a candy bar will also cost you $1. if you c
tensa zangetsu [6.8K]
It's 1 dollar because u have 1 dollar and the chips cost 1 dollar so basically u have no money left
7 0
3 years ago
Many people believe that pure monopolies charge any price they want to without affecting sales. Instead, the output level for a
Virty [35]

Many people believe that pure monopolies charge any price they want to without affecting sales. Instead, the output level for a profit-maximizing pure monopoly occurs where

D. marginal revenue equals marginal cost

Explanation:

  • Many people believe that pure monopolies charge any price they want to without affecting sales. Instead, the output level for a profit-maximizing pure monopoly occurs where
  • D. marginal revenue equals marginal cost
  • In business, the production is done at the level where marginal revenue is equals to marginal cost to maximize the output.
  • When the marginal revenue is greater than the marginal cost, it pays you more.
  • Each unit added which is sold will add more to revenue than to costs.
  • Marginal cost is the cost which occurs due to the increase in cost a company incurs by producing one extra unit of goods or services.

3 0
3 years ago
Nita is a devoted Coca-Cola consumer, whereas Becky can drink either Coca-Cola or Pepsi products. Nita’s demand for Coca-Cola wi
mafiozo [28]

Answer:

The answer is:

Inelastic

Elastic

Explanation:

Nita’s demand for Coca-Cola will be relatively more inelastic i.e his demand will not be sensitive to price. Increasing the price of Coca-cola will not make Nita to change its taste because he is a devoted Coca-Cola consumer.

Becky’s demand will be relatively more elastic because he has an option to choose between Pepsi and Coca-cola.

Any increase in price of Coca-cola will make Becky to shift to Pepsi.

5 0
3 years ago
Other questions:
  • Sam is currently saving $50.00 from every paycheck. What step from The Five Stages of Investing has he reached?
    15·1 answer
  • A guest on a news program states that a local school budget spends too much money on sports programs. Which source will most lik
    7·1 answer
  • If the Canadian dollar is strengthening, then:
    10·1 answer
  • Ajob search should be treated like a full time job.<br><br> True <br> False
    7·2 answers
  • Suppose a period of continuous political instability leads people to believe that the economy will slide into a deep recession.
    9·1 answer
  • The purpose of posting is to A. list the transactions in chronological order in the journal. B. provide an explanation of the tr
    5·2 answers
  • Johnson Construction Company uses cost-plus pricing to determine costs and place bids on local jobs. The manager needs to comput
    13·1 answer
  • An operation is located in a jurisdiction that allows it to hold TCS food without temperature control. How many hours can it dis
    9·1 answer
  • Monetary policy: a.must be described in terms of money-supply targets.b.must be described in terms of interest-rate targets.c.ca
    13·1 answer
  • Read the following short scenario. Then select the response that best describes your views.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!