A company has $4,500 in its Revenue account at the end of a period. The expenses are as follows: Rent, $750; Utilities, $150; Salaries, $2,400; Insurance, $225. The net income (loss) for the period is A. $3,600. B. ($2,100). C. $975. D. ($1,425).
Answers (2)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A company has $4,500 in its Revenue account at the end of a period. The expenses are as follows: Rent, $750; Utilities, $150; Salaries, ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Jamison Company developed the following reconciling information in preparing its June bank reconciliation: Cash balance per bank, 6/30 $13,000 Note receivable collected by bank 4,000 Outstanding checks 7,000 Deposits-in-transit 2,500 Bank service
Answers (1)
Circular 230 requires due diligence from a practitioner in all of the following circumstances except a. making oral representations to clients b. selecting and training new hires at the firm c. preparing an affidavit for the IRS d.
Answers (1)
The goldfarb company manufactures and sells toasters. each toaster sells for $23.75 and the variable cost per unit is $16.25. goldfarb's total fixed costs are $25,000, and budgeted sales are 8,000 units. what is the contribution margin per unit?
Answers (1)
Novak Company has a credit balance of $3,210 in Allowance for Doubtful Accounts before adjustment. The total estimated uncollectibles under the percentage-of-receivables basis is $5,930. Prepare the adjusting entry to record bad debt expense.
Answers (1)
The City of Twizzle issues $10,000,000 face value of general obligation bonds for $9,800,000. The bonds will be used for the construction of new city streets.
Answers (2)
New Questions in Business
Which of the following would be subtracted from net income when determining cash flows from operating activities under the indirect method? An increase in accounts payable. Depreciation expense. A decrease in prepaid insurance.
Answers (1)
Which entry would record the payment of a utility bill? A. Debit Utilities Expense; credit Cash B. Debit Cash; credit Utilities Expense C. Debit Utilities Expense; credit Accounts Payable D. Debit Accounts Receivable; credit Utilities Expense
Answers (1)
Waymire Company sells a motor that carries a 60-day unconditional warranty against product failure. From prior years' experience, Waymire estimates that 3% of units sold each period will require repair at an average cost of $100 per unit.
Answers (1)
In the film industry, what is the term used to describe all the activities and actions taken in order to create a movie? a. acquisition b. distribution c. exhibition d. production
Answers (1)
Taxpayers who recover all or part of an item that they deducted or took a credit for in a prior year, must report the same amount as
Answers (1)