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Illusion [34]
2 years ago
15

3. What does the team think Wheat’s boss should do to address this problem?

Business
1 answer:
BartSMP [9]2 years ago
8 0

Answer:

Привет, как ты?

самый умный я

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Hurlburt Corporation renewed an insurance policy for 3 years beginning July 1 and recorded the $81,000 premium in the prepaid in
Slav-nsk [51]

Answer:

B. Debit insurance expense for $13,500 and credit prepaid insurance for $13,500.

Explanation:

If 6 months past from the beginning of the contract then these past 6 months must be reflected as expenses in the balances.

$13,500 reflect the expenses of the past 6 months from July 1 to December 31, then the entry Debit insurance expense for $13,500 and credit prepaid insurance for $13,500 reflect the proper balances at the end of the year.

8 0
3 years ago
The trial balance of Rollins Inc. included the following accounts as of December 31, 2021:
Alinara [238K]

Answer:

Net income  = $725,625    

Earnings per share = $7.26 per share

Explanation:

The multiple-step income statement refers to an income statement that displays gross profit obtained as sales revenue minus cost of goods sold, and also shows an organization's operating revenues and operating expenses separately from its nonoperating revenues or gains and expenses or losses.

The multiple-step income statement can be prepared as follows:

Rollins Inc.

multiple-step income statement

For the Year Ended December 31, 2021

<u>Details                                                      $                             $             </u>

Sales Revenue                                                               5,400,000

Cost of goods sold                                                    <u>   (3,950,000)   </u>

Gross profit                                                                     1,450,000

<u>Operating expenses:</u>

Selling expense                                 (350,000)

General and admin expense          <u>   (250,000)   </u>

Total operating expenses                                            <u>  (600,000)  </u>

Operating income                                                            850,000

<u>Interest revenue (expense):</u>

Interest revenue                                     37,500

Interest expense                                 <u>  (20,000) </u>

Total Interest revenue (expense)                                      17,500

<u>Other compreh. income (loss):</u>

Loss on sale of investments               (10,000)

Loss on debt investments                 (125,000)

Gain on projected ben. obligation   <u>  235,000 </u>

Total other compreh. income (loss)                             <u>   100,000  </u>

Income before tax                                                           967,500

Income taxes (w.1)                                                        <u>   (241,875)   </u>

Net income                                                                   <u>   725,625    </u>

Earnings per share (w.2)                                                      7.26

<u>Workings:</u>

w.1: Income taxes = Income before tax  * Effective tax rate = $967,500 * 25% = $241,875

w.2: Earnings per share = Net income / Number of shares of stock outstanding throughout the year = $725,625 / 100,000 = $7.26

7 0
2 years ago
Which aspect of the Omnibus Trade and Competitiveness Act allows a U.S. president the authority to restrict sales of a country’s
Kipish [7]

Answer:

Market Access

Explanation:

Based on the information provided within the question it can be said that the aspect that is being mentioned is known formally as Market Access. This term refers to the process of making sure that anyone who may benefit has fast and easy access to the brands that are being sold and at the correct price, and that there are no unfair restrictions being imposed.

3 0
3 years ago
Help fast <br><br><br><br>for 10 pts​
ololo11 [35]

Answer:

training

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2 years ago
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What factors are encouraging financial institutions to offer overlapping financial services such as banking, investment banking,
Anna11 [10]

Answer:

B. I and II only

Explanation:

I. Regulatory changes allowing institutions to offer more services II. Technological improvements reducing the cost of providing financial services

7 0
3 years ago
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