The adjusted trial balance of Flounder Corp. at December 31, 2022, includes the following accounts: Retained Earnings $17,900, Dividends $6,600, Servic- Revenue $35,100, Salaries and Wages Expense $14,800, Insurance Expense $1,870, Rent Expense $3,820, Supplies Expense $1,440, and Depreciation Expense $880. Prepare an income statement for the year!
Answers
Income Statement For the year ended December 31, 2022,
Particulars Amount($)Particulars Amount($)Service revenue35,100Less: Expenses Salaries and wages expense(14,800)Insurance expense(1,870)Rent expense(3,820)Supplies expense(1,440)Depreciation expense(880)Total expenses(23,810)Net income11,290
Explanation: An income statement, also known as a profit and loss statement or P&L, shows a company's revenues and expenses over a certain period, typically one year.
The given information is: Retained Earnings $17,900, Dividends $6,600, Service- Revenue $35,100, Salaries and Wages Expense $14,800, Insurance Expense $1,870, Rent Expense $3,820, Supplies Expense $1,440, and Depreciation Expense $880.
The formula to calculate net income is as follows: Net income = Total revenues - Total expenses Now, let's calculate the income statement for Flounder Corp. for the year ending December 31, 2022. Service revenue = $35,100Less:
Expenses Salaries and wages expense = $14,800 Insurance expense = $1,870Rent expense = $3,820Supplies expense = $1,440Depreciation expense = $880Total expenses = $23,810Net income = $11,290Therefore, the Income Statement for Flounder Corp. for the year ended December 31, 2022, is:
Particulars Amount($)Particulars Amount($)Service revenue35,100Less: Expenses Salaries and wages expense(14,800)Insurance expense(1,870)Rent expense(3,820)Supplies expense(1,440)Depreciation expense(880)Total expenses(23,810)Net income11,290
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Related Questions
Use the drop-down menus to answer the questions.
How do objects with the same charge interact?
How do objects with opposite charges interact?
How do uncharged objects interact?
Answers
Objects with the same charge repel each other, while objects with opposite charges attract each other. Uncharged objects do not interact with each other electrically.
Objects with the same charge repel each other and tend to move away from each other. This is because they have an excess of the same type of charge and therefore experience a force of electrostatic repulsion. Objects with opposite charges attract each other and tend to move toward each other. This is because they have an excess of different types of charge and therefore experience a force of electrostatic attraction.
Uncharged objects do not interact electrostatically, as they have an equal number of positive and negative charges, and hence their net charge is zero. However, they can interact through other forces, such as gravitational or magnetic forces, depending on the nature of the objects.
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How do objects with the same charge interact?
✔ They repel each other.How do objects with opposite charges interact?
✔ They attract each other.How do uncharged objects interact?
✔ They have no effect on each other.A local butcher and a worker at a cereal factory both work in what Agriculture, Food, and Natural Resource pathway?
Agribusiness Systems
Food Products & Processing Systems Animal Systems
Natural Resources Systems
Answers
The Food Products & Processing Systems is the department in Agriculture, Food, and Natural Resource where the local butcher and a worker at the cereal factory.
The food products $ processing systems is a department in the Food, and Natural Resource
The department is responsible for tasks including:
Bulk food production Development of ways to process, package or store food etcIn conclusion, the Food Products & Processing Systems is the pathway in Agriculture, Food, and Natural Resource where the local butcher and a worker at the cereal factory.
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Derick wants to purchase an existing business in the service industry. However, he does not want to use the traditional sources of information that entrepreneurs generally use to make the purchase. Which of these statements refers to an alternative source that Derick can use to locate businesses up for sale?
A.
He could hire the services of a business brokerage company.
B.
He could refer to websites that provide such details.
C.
He could contact businesses through details provided in trade magazines.
D.
He could ask his accountants and lawyers if any of their other clients want to sell their businesses.
E.
He could refer to “business for sale” advertisements listed in the classified sections of newspapers.
Answers
Answer:
The answer is D
Explanation:
I got it right on my quiz. :)
On January 1, the first day of the fiscal year, a company issues a $1,450,000, 5%, five-year bond that pays semiannual interest of $36,250 ($1,450,000 × 5% × ½), receiving cash of $1,408,720.
Answers
Complete Question:
On January 1, the first day of the fiscal year, a company issues a $1,450,000, 5%, five-year bond that pays semiannual interest of $36,250 ($1,450,000 × 5% × ½), receiving cash of $1,408,720
Journalize the first interest payment and the amortization of the related bond discount using the Straight line method
Answer:
Kindly check Explanation
Explanation:
Given the following :
Face value of bond issued = $1,450,000
Cash received on Issuance = $1,408,720
Number of Interest payment on bond = 5 × 2 = 10(semiannual)
Therefore, discount on bond :
$(1,450,000 - 1,408,720) = $41,280
Spreading or amortizing diacou t on bond over the bond duration (use te straight line method)
Discount / period
$41,280 / 10 = $4,128
Interest expense a/c Dr $40,378
To discount on bond payable a/c Cr $4128
To cash a/c $36,250
To measure the strength of a currency, you can
measure the face value against what other
value?
A. market
B. intrinsic
C. foreign
Answers
The face value of a currency compared to its purchasing power against other (inter)national currencies determines the currency’s strength
________ is a communication process in which sales associates help customers satisfy their needs through face-to-face exchanges of information.
Answers
Answer:
online marketing
Explanation:
Through there u can communicate face to face
general industries is expected to generate the below free cash flows over the next five years, after which free cash flows are expected to grow at a rate of 5% per year. if the weighted average cost of capital is 9% and general industries has cash of $15 million, debt of $45 million, and 80 million shares outstanding, what is general industries' expected current share price?
Answers
The predicted current share price for General Industries is $7.78. if the weighted average cost of capital is 9%, cash is $15 million, debt is $45 million, and there are 80 million shares outstanding.
Why should a value consider free cash flow?A greater price to free cash flow ratio in comparison to similar businesses suggests that a company's stock is overpriced. The price to free cash flow ratio can be used to evaluate a company's stock price in relation to its historical cash management methods.
Free cash flow calculation methods is?Subtract your capital expenditures and changes in working capital after adding your net income and depreciation. Net income plus depreciation and amortization, changed working capital, and capital expenditure are all included in free cash flow.
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Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.
Answers
($14)(25)=$350
($25)(11)=$275
$350+$275= $625
what is the main purpose of alcohol when doing poly gel nails?
Answers
Answer:
Gel gloss are included stronger components that realize the nail tighter than traditional lacquers and also are solid sufficient to withstand day-to-day wear and tear without damaging, discusses Essie Global Lead Instructor Rita Comment. A few distinctions in between the formula and also your normal lacquer? Gel polishes are much more adaptable, so they withstand chips; Gels are treated under a UV or LED light and brightens treatment in oxygen. Gels have to be eliminated by soaking in acetone for at the very least 10 minutes, while polishes can be quickly wiped away with nail gloss cleaner.
Explanation:
The wearing away of the Earth's surface is called
Answers
Answer:
Erosion is the wearing away of the Earth's surface.
International companies typically move from an international division structure to a global structure with the expectation to:
Answers
International companies typically move from an international division structure to a global structure with the expectation to achieve greater coordination and integration of operations across different countries and regions, and to better leverage the company's global resources and capabilities.
In an international division structure, the company's operations in different countries are managed as separate divisions, which can lead to duplication of functions, inefficiencies, and a lack of coordination. By moving to a global structure, the company can create a more unified and integrated approach to managing its operations, products, and services on a global scale. This can help the company to achieve economies of scale, reduce costs, and respond more quickly to changing market conditions and customer needs.
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You need to share information summarizing last week's sales department meeting with all the departments in your company. Would email be a good choice for this interdepartmental communication? Why or why not?
Answers
Answer:
yes, a blast email would work best I would say.
Explanation:
true or false: 1. financial statements are the principal means through which a company communicates its financial information to those outside it
Answers
True.
Financial statements are the primary means through which a company communicates its financial information to those outside of the company, such as investors, creditors, and other stakeholders.
Financial statements provide a summary of the financial performance and position of a company over a specified period. There are three primary financial statements: the balance sheet, the income statement, and the cash flow statement.
These statements provide information about the company's assets, liabilities, equity, revenue, expenses, and cash flows. Investors and creditors use financial statements to evaluate the financial health of a company and make decisions about whether to invest or lend money.
Other stakeholders, such as employees, suppliers, and customers, may also use financial statements to assess the company's financial stability and future prospects.
In conclusion, financial statements are an essential communication tool for companies to disclose their financial information to external parties, and they are an important aspect of financial reporting and accounting.
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According to the OOH, what educational, training, certification, or licensing requirements do Physicians and Surgeons need? Check all that apply.
medical school
volunteer work
internship and residency program
a public-speaking certification
license
Answers
Answer:
There are actually 3 answers to this question.
A. medical work
C. internship and residency program
E. license
Hope this helps :)
Explanation:
The U.S. Bureau of Labor Statistics, the educational, training, certification, or licensing requirements for Physicians and Surgeons include:
Medical school:
Internship and residency program
License
The correct options are A, C, and E.
What is the difference between being a licensed and certified PA?Even while some jurisdictions define certification as having governmental authorization to perform a profession, the distinction between licensing and certification really only refers to the difference between governmental regulation and self-regulation of a field.
Physicians and Surgeons typically need a Doctor of Medicine (M.D.) or Doctor of Osteopathic Medicine (D.O.) degree from an accredited medical school. After completing medical school, physicians and surgeons typically complete an internship and residency program that lasts 3 to 7 years, depending on the specialty.
Physicians and Surgeons must be licensed in the state where they practice medicine. To obtain a license, they must pass a state-specific exam and meet other requirements, such as completing continuing education courses.
Thus, the ideal selections are options A, C, and E.
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Who does not take responsibility for his actions and would rather blame others if something does not go well?.
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A person who does not take responsibility for his actions and instead blames others when something goes wrong is often referred to as a "blamer" or "blame-shifter".
Blamers are individuals who tend to avoid accountability and accountability for their own mistakes, failures, or shortcomings. Rather than accepting responsibility for their actions, they try to shift the blame onto others. This behavior can manifest in various situations, such as personal relationships, work environments, or even in society at large. A blamer may use different strategies to deflect responsibility. They might engage in finger-pointing, accusing others without valid reasons, making excuses, or even distorting the facts to make themselves appear innocent. By doing so, they try to avoid negative consequences, maintain a positive self-image, or protect their reputation.
Blaming others is a common defense mechanism used by individuals who struggle with taking ownership of their actions. By blaming others, they can preserve their ego and avoid feelings of guilt, shame, or embarrassment. However, this behavior can have detrimental effects on personal growth, relationships, and overall well-being. When someone consistently refuses to accept responsibility for their actions and constantly shifts the blame onto others, it can create a toxic and unproductive environment.
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ACTIVITY 2.
Identify and explain briefly the question below
1 What are the 4P's in marketing plan?Explain each
А__________
B__________
С__________
D__________
Answers
Answer:
A. Product
B. Price.
C. Place.
D. Promotion.
Explanation:
Marketing plan can be defined as the choices about product attributes, pricing, distribution, and communication strategy that a company blends and offer its targeted markets (customers) so as to build and maintain a desired response.
Generally, a marketing plan is made up of the four (4) Ps and these includes;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
how long does it take for robinhood to approve your account
Answers
Answer:
depends on your account......
Genera 5
3
Select the correct answer.
Which relationship is possible when two tables share the same primary key?
O A one-to-one
ОВ.
one-to-many
OC. many-to-one
OD. many-to-many
Reset
Next
Answers
Question:
Which relationship is possible when two tables share the same primary key?
Explanation:
One-to-one relationship.
Woodsmith magazine gave instructions on how to build a pine cupboard. Lumber will be needed for two shelves 1134 inches long, two base sides 1112 inches long, and two door stiles 2918 inches long. Your lumber comes in 6 foot lengths. A. How many feet of lumber will you need? (Enter your fraction in lowest terms.)
Answers
Answer:
Hi there!
You'll need 860.67 feet of lumber.
Explanation:
First we calculate the needs of lumber in inches
Shelves: 2 x 1,134 = 2,268 inches
Base Sides: 2 x 1,112 = 2,224 inches
Door stiles: 2 x 2,918 = 5,836 inches
Total inches long of lumber needed:
2,268 + 2,224 + 5,836 = 10,328 inches
Then we convert the unit of measure from inches to feet:
One inch equals 0.08333 feet.
10,328 x 0.08333 = 860.67 feet
two years ago, apple admitted to slowing down processors in older iphones to extend battery life and responded by cutting the cost of a replacement battery from $79 to $29. this is an example of .
Answers
Two years ago, apple admitted to slowing down processors in older iphones to extend battery life and responded by cutting the cost of a replacement battery from $79 to $29. this is an example of ethical responsibility.
What is ethical responsibility?This is the term that is used to refer to the aspects of businesses that has to do with the ability to recognize as well as be able to act upon the principles that would be of value in a given field or area.
This is an ethical responsibility given that it helps to show that the business made the decision and also took upon them to reduce the cost that the people would need to be able to get the battery.
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twitter provides a platform where businesses can create advertising campaigns
Answers
Answer:
ok?
Explanation:
NEED THIS SUPER FAST! ASAP!!!
Research and write about a psychologist from the twentieth century who has had a major impact on the field of psychology. Briefly discuss the contributions of the psychologist.
At least two to 3 paragraphs please, i need this today for my final grade
Answers
Answer:
William James an American philosopher and psychologist. James was born into a wealthy family which lived in New York at the time of his birth. In 1861 James began his scientific studies at the Lawrence Scientific School of Harvard College. He then, in 1864, took up medical studies at Harvard Medical School. James finally earned his MD degree in June of 1869 but he never practiced medicine.
William James gained widespread recognition with his monumental "The Principles of Psychology," which was published in 1890. James held a in line with pragmatism, and declared that the value of any truth was utterly dependent upon its use to the person in which had held it. In his search for truth and assorted states of psychology, William James developed his two-stage model of free will. In this model, James tries to explain how it is people come to the creation of a decision and what factors are involved with it it.
Explanation:
name any TWO markets within the four-sector circular flow model
Answers
Answer:
Explanation:
The circular flow model shows the interaction between two groups of economic decision-makers―households and businesses―and two types of economic markets―the market for resources and the market for goods and services.
25 point multiple choice
Ava works in a college admissions office. She is involved in reading applications and matching students to the criteria set out by the school for acceptance. If Ava decides that the student qualifies to attend the college, she notifies them. Which pathway in the Education and Training Cluster does Ava’s career fall into?
A. Teaching and Training B. Administration and Administrative C. Professional Support Services D. Science & Mathematics
Answers
It will be Option C, " Professional support and Services ".
Proof:-
• She is only reading applications that might be related to complaints or admissions, So , Option A and D is incorrect.
• She is not in the field of anything related to teaching, therefore, Option B is also incorrect.
Now Option C is only remaining. Therefore, Option C is your answer.
Hope it helps you...
(Answered by Benjemin)
Kamiar owed Rubio $5,000, which was due in one year. There was no dispute that a debt existed and no dispute over the amount. However, Rubio needed money immediately, so Kamiar offered to pay $4,000 early in full settlement of the debt. If Kamiar pays the $4,000 early, will Rubio be able to successfully sue and collect the $1,000 later? Yes or no? Why or why not?
Answers
Yes, Rubio will be able to successfully sue and collect the $1,000 later because their agreement was not fulfilled.
What is an agreement in contract?In contract, an agreement is an element of what makes a contract valid. When an agreement is breached, then, the aggrieved party have a right to void the contract.
In conclusion, the answer is yes because Rubio will be able to successfully sue and collect the $1,000 later because their agreement was not fulfilled.
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Explain what market inefficiencies derive from monopolies and monopolistic competition. Use examples to support your claims. How do firms in an oligopolistic market set their prices? Use specific examples to support your claims. Provide credible reference
Answers
Monopolies and monopolistic competition can lead to market inefficiencies due to their effects on competition, pricing, and resource allocation.
In a monopoly, a single firm has exclusive control over the market, leading to limited competition and potential negative consequences for consumers. Monopolies can result in higher prices, reduced product variety, and decreased incentives for innovation and efficiency.
For example, consider a pharmaceutical company that holds a patent for a life-saving drug. Due to its monopoly power, the company can set high prices for the drug, making it unaffordable for many consumers. This lack of competition can lead to reduced access to essential medications and hinder the overall welfare of society.
In monopolistic competition, there are multiple firms in the market, but each has some degree of market power due to product differentiation. This can result in market inefficiencies as firms may engage in non-price competition, such as advertising or branding, rather than focusing solely on lowering prices or improving product quality.
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the discount rate is higher for safe investments than for risky ones.truefalse
Answers
When compared to hazardous investments, the discount rate for safe investments is larger. false
Money spent on assets with the hope that their value would rise over time is known as an investment. A present resource, such time, money, or effort, must be lost in order to invest. The goal of investing in the financial realm is to make money from the asset that is being used. The return may contain unrealized capital gains, investment income such as dividends, interest, or rental income, realised capital gains, a combination of realised and unrealized gains, and gains (losses) realised via the sale of a residence or investment. Due to fluctuating exchange rates, the return may also include foreign exchange gains or losses.
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SOMEONE HELP ME PLEASE
Which sentence describes a cooperative organization?
Cohen and his friends work in a cooperative organization.
They own and control the functions of the organization.
Their sole motive is to gain profit.
They can trade their stocks in the financial market.
Answers
The statement "They own and control the functions of the organization" best describes a cooperative organization.
A cooperative is when two or more people come together to form an organization or form a business that is democratically run and managed by them alone. This means that it is a united effort by the individuals involved to run a business.
Cooperatives may vary according to the needs and wants of the individuals. But at the same time, the rules and other policies can also be changed to suit the need of the members.Cooperatives represent a much better form of unity and accomplishments, especially for lesser known individuals or less powerful members of the society.Such individuals may be farmers, workers, individual producers, etc. who would unitedly work to accomplish common goals and beliefs.Thus, the correct answer is the second option.A cooperative organization, in short, can be best stated as the unified union or gathering of various individuals with different expertise or dreams with the aim to achieve success. They share the responsibilities among themselves and also control the functions of the organizations equally.
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'Cooperative Organization' is characterized as the 'organization that is either partially or wholly owned and regulated by its employees, customers, or tenants.'
The sentence that appropriately describes such an organization would be:
B). They own and control the functions of the organization.
In a cooperative organization,
The people willingly come forward to accomplish their common needs including various economic, communal, and cultural needs. To serve these purposes, these people collectively own an enterprise/company whose goods and services are used by them only. Each member carries equal power and rights in such an organization Agriculture, utilities, Insurance, Healthcare, etc. are some of the illustrations of such organizations.Learn more about 'Cooperative organization' here:
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Which statement best describes the relationship between price and quantity supplied? a When prices increase, quantity supplied increases.b When prices increase, quantity supplied stays the same. cWhen prices decrease, quantity supplied increases. d When prices decrease, quantity supplied stays the same.
Answers
A is the option that offers the most accurate description of the connection between the selling price and the total amount.
When prices go higher, there is a corresponding rise in the amount that is provided.
When prices increase, the quantity supplied increases. Option A
What does the price mean?This is a reference to the value that is affixed to a certain good or service, which is the amount that it may be bought or acquired for.
As a result, we can see that based on the economic principle of price and quantities supplied, we can make the observation that when prices increase, the quantity supplied increases, and this is because of demand and supply.
In other words, when prices go up, there are more goods available for purchase.
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True or false: the channel used can potentially influence the meaning assigned to the message.
Answers
Answer:
TRUE!!
Explanation:
I looked it up on Quizlet it's correct though.