centurion co. had the following accounts and balances at december 31: account debit credit cash $ 10,800 accounts receivable 2,160 prepaid insurance 2,720 supplies 1,160 accounts payable $ 5,400 common stock 5,380 service revenue 7,800 salaries expense 580 utilities expense 1,160 totals $ 18,580 $ 18,580 using the information in the table, calculate the company's reported net income for the period.
Answers
The company's reported net income for period is $5400.
What is net income?According to accounting and business terminology, net income is an entity's revenue less its costs, cost of goods sold, depreciation and amortization, interest, and taxes for a particular accounting period. The difference between all sales, gains, and losses for the time period is used to calculate the net growth in shareholders' equity as a result of a company's operations. Net income is the amount of money that a household or an individual has left over after all taxes and other deductions have been made. Net income may be distributed as a dividend to Common Stockholders in addition to being added to the Company's Retained Earnings. Profit and earnings are both terms that are used to refer to income, hence net earnings and net profit are frequently used interchangeably with net income.
Net income=$10,800-$5,400=$5,400
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Answer: Net Income: $ 6060
Explanation: Make income statement:
REVENUE
Service Revenue 7800
EXPENSES
Salaries Expenses 580
Utilities Expenses 1160
TOTAL EXPENSES 1740
Net income (7800-1740)= 6060
Related Questions
Which of the following choices is one of the leading economic indicators?
advance monthly retail sales
structural unemployment
annual unemployment data
gross national product
Answers
Answer:
Gross National Output
Explanation:
This is a leading economic indicator because it tell us the well-being and health of the overall economy. A low gross national output also means that unemployment rate may be high because resources are not fully utilized--be it structural unemployment or total unemployment. Monthly retail sales also feeds into Gross National Output.
3. How would you evaluate IMAX's international expansion to date?
Answers
Answer:
yes
Explanation:
yes
The best evaluation of the expansion of the IMAX is that there is a faster spread of the business internationally than domestically.
What is a Business Expansion?This refers to the period of growth peak when a business has to seek extra options to develop and generate more profit.
Hence, we can see that from the expansion of IMAX, there is the creation of more theatres in India as they have entered a business partnership with Inox to bring the total number of contracted theatres in India to 40
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Beverly Mills has decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accom-modate a variety of driving patterns. All the leases are for 3 years and require no money at the time of signing the lease. The first option has a monthly cost of $330, a total mileage allowance of 36,000 miles (an average of 12,000 miles per year), and a cost of $0.35 per mile for any miles over 36,000. The following table summarizes each of the three lease
options:
(See photos below)
Answers
Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.
Beverly Mills decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accommodate a variety of driving patterns.All the leases are for 3 years and require no money at the time of signing the lease.
The three lease options available to Beverly Mills are as follows:
Option 1:Monthly cost: $330Total mileage allowance: 36,000 miles (an average of 12,000 miles per year)Cost for any miles over 36,000: $0.35 per mile
Option 2:Monthly cost: $460Total mileage allowance: 45,000 miles (an average of 15,000 miles per year)Cost for any miles over 45,000: $0.45 per mile
Option 3:Monthly cost: $540Total mileage allowance: 60,000 miles (an average of 20,000 miles per year)Cost for any miles over 60,000: $0.55 per mile
Therefore, Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.
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I have one problem in solving this accounts question. Please help me to find this answer
Answers
Based on the information, the Account to be debited and Account to be credited so given below.
How to explain the information(a) Bought office machinery on credit from D Isaacs Ltd.
Account to be debited - Office Machinery
Account to be credited - Accounts Payable (D Isaacs Ltd)
(b) The proprietor paid a creditor, C Jones, from his private funds.
Account to be debited - Accounts Payable (C Jones)
Account to be credited - Owner's Equity (Private Funds)
(c) A debtor, N Fox, paid us in cash.
Account to be debited - Cash
Accounts Receivable (N Fox)
(d) Repaid part of loan from P Exeter by cheque.
Account to be debited - Loans Payable (P Exeter)
Cash
(e) Returned some office machinery to D Isaacs Ltd.
Account to be debited - Accounts Payable (D Isaacs Ltd)
Office Machinery
(f) A debtor, N Lyn, pays us by cheque.
Account to be debited - Cash
Accounts Receivable (N Lyn)
(g) Bought van by cash.
Account to be debited - Van
Cash
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Lesson 2 Assignment
Product Combo A Combo B Combo C Combo D Combo E
Motorcycles 0 2 4 6 8
Surfboards 30 27 21 12 0
a. Graph the above production data, putting motorcycles on the horizontal axis.
b. What are the opportunity costs of moving from point B to point D and from point D to point A?
c. Point F represents 3 motorcycles and 21 surfboards. Plot this point on your graph and explain what it represents.
Point G represents 5 motorcycles and 24 surfboards. Plot this point on your graph and explain what it represents.
Answers
The cost opportunity from B to D is 15 surfboards, while the cost opportunity from D to A is 6 motorcycles.
What is the opportunity cost?In economics, opportunity cost refers to what is lost if one alternative is chosen over another. For example, if a country decides to manufacture only cars they are losing the opportunity to manufacture other products such as cellphones.
Opportunity cost from B to D:If you choose Combo B instead of D you lose the opportunity to manufacture 15 more surfboards
(27-12 = 15).Opportunity cost from D to A:If you choose Combo A instead of D, you lose the opportunity to manufacture 6 motorcycles
(0 to 6= 6).Poing F and G:Points F and G imply that if you manufacture 3 motorcycles you can only manufacture 21 surfboards (F), and if you manufacture 5 motorcycles the production of surfboards increases by 3 (24 surfboards).
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Which is a commodity someone might invest in?
a) a mutual fund
b) natural resources
c) government bonds
d) a certificate of deposit
Answers
Answer:
b) natural resources
Explanation:
Natural resources refer to valuable materials found beneath, above, and on the earth's surface. They are naturally occurring, meaning no human effort is required in producing them. Natural resources make a good source of wealth. Examples of natural resources are land, mineral, oils and gas, forests, water, sunlight, wind, and many others.
Anyone with access to natural resources can invest to make them marketable products. Extraction of oil and refining is an example of investing in natural resources. Processing of trees to wood, use of solar to generate power are other examples.
Answer B) natural resources.
Explanation:
Hope this helps! :)
Market research can help you strategize your _______ and _______ goals.
Primary research is more _______ than secondary research.
Your first marketing priority is to find out if you can _______ your product or services.
The grouping of people for marketing purposes is called _______.
Once you find out what people want, there’s a need to know the _______ for their choices.
Answers
Market research can help you strategize your business and marketing goals.
Primary research is more specific and tailored to your specific needs than secondary research.
Your first marketing priority is to find out if you can sell your product or services.
The grouping of people for marketing purposes is called segmentation.
Once you find out what people want, there's a need to know the motivations for their choices.
Market research plays a critical role in shaping business and marketing strategies by providing valuable insights into customer preferences, market trends, and competitive landscapes. It helps in identifying target markets, understanding customer needs, and developing effective strategies to achieve business and marketing goals.
By conducting research, businesses can gather data and information to inform their decision-making and ensure that their goals are aligned with customer expectations and market opportunities.
Primary research involves gathering firsthand data directly from the source, such as through surveys, interviews, or observations. It is more specific and focused on the unique needs and objectives of a particular study. Secondary research, on the other hand, involves using existing data and information from published sources.
While secondary research provides a broader understanding of a topic, primary research allows for more control and customization of the research process to address specific research objectives.
When launching a new product or service, one of the primary marketing priorities is to determine if there is a demand for it in the market.
Market research helps in assessing the viability and potential success of a product or service by gathering insights on customer preferences, needs, and market conditions. This information enables businesses to make informed decisions about product development, positioning, pricing, and marketing strategies.
Segmentation is the process of grouping individuals with similar characteristics or behaviors into distinct segments for marketing purposes.
By segmenting the market, businesses can target specific groups that are most likely to be interested in their products or services. Market segmentation allows for more personalized and targeted marketing strategies, resulting in better customer engagement and increased marketing effectiveness.
Once businesses identify what people want through market research, it becomes crucial to understand the motivations behind their choices. This involves delving deeper into the underlying reasons, preferences, and factors that drive consumer behavior.
By understanding the motivations behind consumer choices, businesses can tailor their marketing messages, product features, and overall customer experience to better align with customer needs and increase the chances of success in the market.
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The Supplies Expense account was debited $1,240 by the Sanford Company for office supplies purchased during the first year of operations. At year-end, the office supplies on hand were counted and the cost of the on-hand items was $880. The appropriate adjusting entry would:
Answers
Answer:
The Decrease in expenses $360
Explanation:
Since the supplies expense is debited by $1,240 for office supplies purchased
and the office supplies on hand is $880
So, the remaining office supplies left is
= Supplies expenses debited for Office supplies purchased - office supplies on hand
= $1,240 - $880
= $360
This $360 represent that there is a decrease in expenses
Although you thought that paying high performers significantly more than low performers best motivated your employees, when you looked at the data you found that wide disparities in pay actually weakened trust among team members and the social connectivity that contributes to strong team- based decision-making.
Alternative generation
Choose an alternative
Evidence-based management
Answers
Answer:
Evidence-based management
Explanation:
Evidence-based management is applied when you looked at the data you found that wide disparities in pay actually weakened trust among team members and the social connectivity that contributes to strong team- based decision-making.
What precisely is "evidence-based management"?A growing approach called "evidence-based management" seeks to explicitly incorporate the most recent and reliable data into management and decision-making. It is a component of a greater trend toward evidence-based treatment. Evidence-based management is a strategy that focuses on using the best available data and critical thinking to make choices rather than blindly adhering to established norms and hierarchies of opinion.
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In order to reset yourself after a lost deal, which strategy should you use
Answers
Answer:
For every lost opportunity schedule a check up call.The time when you schedule your back in call depends on the length of contract you were selling.For example, if you were selling a year’s worth of services and lost the deal you’d want to be back in front of that prospect within 9 months.
Explanation:
hope this helps if not please let me now
A) What does it mean for a country to have a negative interest rate? What does it mean for borrowers?
B) Do some research and find countries that currently have a negative interest rate.
C) Why would a central bank lower the interest rate beyond zero?
Answers
A) When a country has a negative interest rate, it implies that the central bank, or the monetary authority of the country, has taken a stance that is intended to promote spending and investment.
B) Countries that currently have a negative interest rate are:Switzerland. -0.75 percentEuropean Central Bank (ECB) -0.50 percentDenmark -0.60 percentJapan -0.10 percentSweden -0.35 percent
C) Lowering interest rates beyond zero serves as a stimulus for the economy, causing people to spend more money and businesses to invest more in capital projects.
A) When a country has a negative interest rate, it implies that the central bank, or the monetary authority of the country, has taken a stance that is intended to promote spending and investment. This is accomplished by creating a climate that encourages borrowers to borrow and lenders to lend.
Negative interest rates make it less expensive for businesses and individuals to borrow money, making it easier for them to invest in growth or make major purchases. As a result, consumption increases, and deflation, or a decrease in prices, can be reduced.
B) Countries that currently have a negative interest rate are:Switzerland. -0.75 percentEuropean Central Bank (ECB) -0.50 percentDenmark -0.60 percentJapan -0.10 percentSweden -0.35 percent
C) Lowering interest rates beyond zero serves as a stimulus for the economy, causing people to spend more money and businesses to invest more in capital projects. As a result, low-interest rates encourage borrowers to borrow more money, lowering borrowing costs and increasing spending.
This spending can help increase economic growth and reduce unemployment by putting more money in people's pockets and increasing demand for goods and services.
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so what would you do if your friend expose you for being on brainly?
Answers
Answer:
Danm just know your doomed or just beg the person.
Explanation:
Find an example of a large project that took more than a year to complete, preferably one near where you live. Describe some of the planning work completed for the project as part of project time and cost management. Summarize your findings
Answers
People have been undertaking projects since the earliest days of organized human activity. The hunting parties of our prehistoric ancestors were projects, for example; they were temporary undertakings directed at the goal of obtaining meat for the community. Large complex projects have also been with us for a long time. The pyramids and the Great Wall of China were in their day of roughly the same dimensions as the Apollo project to send men to the moon. We use the term “project” frequently in our daily conversations. A husband, for example may tell his wife, “My main project for this weekend is to straighten out the garage.” Going hunting, building pyramids, and fixing faucets all share certain features that make them projects. So the correct answer is: please help :)
A student is graduating from college in 18 months but will need a loan in the amount of $7,855 for the three remaining semesters. The student may either receive an unsubsidized or subsidized stafford loan. The terms of each loan are:.
Answers
$427.60 approx is the difference in the balance of the two loans at the time of graduation.
What does a loan simply mean?A loan is a type of debt that a person or other entity incurs.The lender, which is typically a business, financial organization, or the government, lends the borrower some money.The borrower accepts a specific set of conditions in return, which may include any financial costs, interest, a repayment schedule, and other requirements.
What does the term "loan" mean in finance?A loan is a mutual fund that enables a user the access a defined sum of cash at the beginning of the transaction on the understanding that this money, plus the agreed-upon interest, would be paid back within a given time frame.Loan repayment is made in recurring installments.
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11. A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:
selling price $140
units in beginning inventory 0
units produced 1,200
units sold 800
units in ending inventory 400
Direct materials $25
Direct labor $41
Variable manufacturing overhead $6
Variable selling and administration $6
Fixed manufacturing overhead 24,000
fixed selling administration $12,000
What is the net operating income for the month under variable costing?
A. $21,600
B. $(15,200)
C. $8,000
D. $13,600
Answers
Answer:
I THINK ITS B
Explanation:
QUESTION 3 of 10: Mill rate is the tax rate that is applied to the assessed value of a real estate property by a municipality. Your tax is
calculated by multiplying the mill rate by the assessed value of a property and dividing by 1,000. If your town's mill rate is 8 and your
assessed home value is $188,000, how much will your town tax bill be?
Answers
Answer:
1,504
Explanation:
Trust me
The town's tax bill given the mill rate and the assessed value of a property is $1.504.00
What is the town tax bill?The mill's rate the amount of tax that would be paid per dollar of the assessed value of a property.
Town tax bill = (mill rate x assessed value) / 1000
(8 x 188,000) / 1000 = $1,504
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If you are a debt investor, how do you make money from your investment?
Answers
Explanation:
You trade to make money. Which is done by investing into a trade market
Answer:
Lending money and charging interest
Explanation:
You are considering opening a new plant.
• The plant will cost $100 million upfront. After that, it is expected to
produce profits of $30 million at the end of every year. The cash
flows are expected to last forever.
1. Calculate the NPV of this investment opportunity if your cost of
capital is 8%. Should you make the investment?
2. Calculate the IRR and use it to determine the maximum deviation
allowable in the cost of capital estimate to leave the decision
unchanged.
Answers
Answer:
1. $275 million
Yes
2. 30%
Explanation:
Calculation for the NPV of the investment opportunity
NPV = –100 + 30/0.08
NPV= $275 million
Therefore the NPV will be $275 million
Yes, Based on the above Calculation they should make the investment
2. Calculation for IRR
IRR: 0 = –100 + 30/IRR
Hence,
IRR = 30/100
IRR = 30%
Therefore the IRR will be 30%
The IRR is great only in a situation where the cost of capital does not go beyond 30%.
The NPV of the investment is . The investment should be made because it is profitable.
The IRR is 30%. The maximum deviation allowable in the cost of capital estimate to leave the decision unchanged is 30%.
What is the NPV?Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV = -100 + $30 / 0.08 = $275 million.
The NPV is positive. This means the project is profitable.
What is the IRR?Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested.
IRR = -100 + 30 /1RR
100 = 30 / 1RR
IRR = 30 / 100 = 30%
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One student made the incomplete diagram shown below to represent the relationship between magma, igneous rocks, and metamorphic rocks: three ovals, labeled from left to right, metamorphic rock, magma, and igneous rocks respectively. Which of these is the correct next step to complete the diagram? Put an arrow labeled cools and crystallizes, pointing from igneous rocks to metamorphic rocks. Put an arrow labeled cools and crystallizes, pointing from metamorphic rocks to igneous rocks. Put an arrow labeled heat and pressure, pointing from igneous rocks to metamorphic rocks. Put an arrow labeled heat and pressure, pointing from metamorphic rocks to igneous rocks
Answers
Answer:
a
Explanation:
Answer:
C
Explanation:
I took the test.
A can't be because that would be Magma to Igneous rocks
B either because metaphoric rocks are getting with a high temperature and, as B says "cooling" well, that can't be the option.
D cannot be because that should be in reverse due preassure gets things with a high temperature and... well, xd.
So answer is C
give me brainliest pls :3
Price inflation:
a. is relatively unimportant to individuals
b. is considered to be acceptable in the nation's quest for high levels of employment
c. encourages investment by reducing the uncertainty about future returns
d. is almost always due to financing wars
e.none of the above
Answers
Answer: encourages investment by increasing the uncertainty about future returns
Explanation:
Price inflation is the increase in general price level which brings about reduction in the purchasing power of economic agent such as the individuals or firms at a particular period of time.
Price inflation is important to individuals as it affects their decision making and it reduces their spending ability. Causes of inflation are due to excess demand, rise in production cost, rise in money supply etc. Financing wars isn't the main cause of inflation.
It should be noted that inflation encourages investment by reducing the uncertainty about future returns. This is because since prices of goods have already shoot up, investors will be encouraged as they'll like to invest in such economy as there'll be tendency to make maximize profit.
Business activities require capital, which of the following is NOT a way to
raise capital?
reinvesting profite
investors
using owner's money
o
developing products
Answers
Answer:
reinvesting profit
were can i watch boruto on a school chrome book
Answers
Explanation:
Naruspot.tv and Kissanime are the ones I used
Answer:
*me trying to find a place to watch naruto shippuden
*accidentally find this
*me: (☆▽☆)
Explanation:
Item 17 A certain cell phone plan charges a fee of $1 for each international call made plus $0. 02 for each second of talk time for the international call. A business owner tracked the time and cost for each of the calls made by the employees when they traveled internationally for business. What is the appropriate value of the correlation between time and cost for the international calls?
Answers
The appropriate value of the correlation between time and cost for the international calls is 1.
Explanation:
The correlation coefficient (r) measures the strength and direction of the linear relationship between two variables. It ranges from -1 to 1, where -1 indicates a perfect negative correlation, 1 indicates a perfect positive correlation, and 0 indicates no correlation.
In this case, the cost of an international call is directly proportional to the time of the call. This means that as the time of the call increases, the cost also increases at a constant rate. Therefore, the correlation between time and cost for the international calls is 1, indicating a perfect positive correlation.
Here's the formula for the cost of an international call:
Cost = $1 + ($0.02 × time)
The $1 is a fixed fee for each call, and the $0.02 is the rate for each second of talk time. So, for each additional second of talk time, the cost increases by $0.02. This shows a direct relationship between time and cost, resulting in a correlation of 1.
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During March, a firm expects its total sales to be $160,000, its total variable costs to be $95,000, and its total fixed costs to be $25,000. The contribution margin for March is: Multiple Choice
Answers
Answer:
$65,000
Explanation:
contribution margin = total sales revenue - total variable costs = $160,000 - $95,000 = $65,000
if you want to calculate the contribution margin per units, all you need to do is divide the total contribution margin by the total number of units sold.
for example, if total units = 10,000
contribution margin per unit = $65,000 / 10,000 = $6.50
why convert a range of data into an excel table
Answers
Answer:
When you convert your range of data into an Excel table, by default, the Excel shades every other row in the table, making them easy to read. You can turn on/off the banded-row option from Table Style Options under the Design tab. You can also have banded columns.
Explanation:
Explain what is meant by the saying that consumers "vote" with their dollars every time they buy products in the marketplace
Answers
What is meant by means of pronouncing that consumers "vote" with their greenbacks every time they purchase merchandise inside the marketplace when purchasers purchase something, they send a message to companies regarding their shopping for preferences, helping to direct use resources
The definition of a consumer is a person that buys goods and services. An instance of the customer is someone who purchases a brand new tv. A heterotrophic organism feeds on different organisms in a meal chain.
The consumer is the only one who's the end-person of any items or offerings. Any person, aside from the consumer who buys the product or offerings, and consumes the product via taking his/her permission is categorized as a customer.
Consumers represent the top trophic stages. not like producers, they can't make their personal food. To get electricity, they eat vegetation or different animals, even as some devour each. Scientists distinguish between numerous forms of customers. primary clients make up the second one trophic degree.
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meaning of miscellaneous
Answers
Answer:
it means consisting of different items/member that are of different kinds
Explanation:
1 It is impossible to motivate, only to demotivate. Discuss.
Answers
Explanation:
This statement suggests that motivation is not something that can be given to someone, but rather something that can only be taken away or undermined. In other words, people are already motivated to some degree, and it is external factors that can either enhance or diminish that motivation.
There is some truth to this statement. People are generally motivated by internal factors such as personal goals, values, and interests. However, external factors such as work conditions, compensation, and recognition can impact the level of motivation a person feels. For example, if an employee is not compensated fairly or does not receive recognition for their work, they may become demotivated and their overall motivation may decrease.
On the other hand, external factors can only go so far in motivating someone. If an individual does not have a personal interest in a task or does not believe it aligns with their values, no amount of external motivation will be enough to sustain long-term effort.
In conclusion, while external factors can have an impact on motivation, it is ultimately the individual's internal factors that determine their level of motivation. Therefore, the statement "it is impossible to motivate, only to demotivate" is partially true
Answer:
This statement implies that motivation comes from within an individual and cannot be forced upon them by external factors. While external factors such as rewards or recognition can create temporary motivation, long-term motivation ultimately comes from an individual's own values, interests, and goals. However, negative factors such as lack of support or recognition, unrealistic goals, and poor working conditions can demotivate individuals and decrease their intrinsic motivation. Therefore, it is important for leaders and organizations to create a supportive environment that fosters intrinsic motivation and minimizes external demotivators.
The auditors have a responsibility to report on all FASB-required supplementary information for publicly-traded companies.a. Trueb. False
Answers
The auditors have a responsibility to report on all FASB-required supplementary information for publicly-traded companies. This statement is true.
WHAT is the auditor's duty for additional information?In order to support their assessment of whether the supplemental information is fairly stated in all material aspects in relation to the financial statements as a whole, the auditor should carry out audit procedures to gather the necessary audit evidence.
Financial statements are often where this information comes from. If such necessary supplemental information is obtained from audited financial statements and is included in a document that the auditor has filed, it may be reported on as described in the following paragraph.
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Laws regarding taxes
regulate employee rights to compensation resulting from job-related injuries
regulate employee rights to a safe work environment and reasonable minimum wage
require employers and employees to contribute to the Social Security fund
require employers to disregard gender, race, and ethnicity during the hiring process
Answers
The laws regarding taxes can be defined as require employers and employees to contribute to the Social Security fund. So the correct answer is C.
In economic and business, law generally can be defined as the discipline and profession concerned with the customs, practices, and rules of conduct of a community. Law is an obligation for anyone and bust be paid that are recognized as binding by the community. Enforcement of the body of rules is through a controlling authority. In workspace and economic, Employment laws generally can be defined as a set of rules that govern employees' rights and employers' duties.
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