The adjusted trial balance of Indigo Corporation at December 31, 2017, includes the following accounts: Retained Earnings $16,651, Dividends $6,759, Service Revenue $35,644, Salaries and Wages Expense $13,785, Insurance Expense $1,799, Rent Expense $3,872, Supplies Expense $1,413, and Depreciation Expense $804.
Prepare an income statement for the year.
Answer:
$13,971
Explanation:
An income statement indicates the profit or loss a business makes in the financial period. Profits or loss is realized by subtracting expenses from revenue.
The revenue for Indigo Corporation is $35,644,
Expenses
Salaries and Wages Expense $13,785
Insurance Expense $1,799
Rent Expense $3,872
Supplies Expense $1,413
Depreciation Expense $804
Total expenses $21,673
Income will be
=$35,644 - $21,673
= $13,971
Retained Earnings and Dividends are part of company profits. They are not business income or expenses.
The balance in the prepaid insurance account before adjustment at the end of the year is $6,400, which represents the insurance premiums for four months. The premiums were paid on November 1. The adjusting entry required on December 31 is:
Answer:
Insurance Expense $6,400 (debit)
Prepaid Insurance $6,400 (credit)
Explanation:
The Prepaid Insurance Account is an Asset Account. This is because it represents economic resources controlled by the firm as a result of past events (payment of insurance in advance) from which economic benefits are expected to flow into the business (insurance services).
As the Insurance is utilized, the Asset account decreases whilst the Expense Account Insurance Expense increases. The following journal entry shows how this happens.
Insurance Expense $6,400 (debit)
Prepaid Insurance $6,400 (credit)
What are 2 different payments relating to insurance that are used for almost all kinds of insurance?
Answer:
family insurance and life insurance
Which type of interest is charged on both the original amount borrowed and
the interest that has already accumulated?
A. Corporate interest
B. Bankruptcy interest
C. Simple interest
D. Compound interest
Answer: compound interest broski
which of the following is an asset
A. Account receivable
B. Account payable
C. Loan
Answer:
A. Account receivable
ways VKW might be affected by increased import controls
Answer:
The government's trade policy can affect your business by making it easier or more ... Trade policy can include the imposition of import tariffs, quotas on imports ... This can be helpful to some businesses, but can also lead to increased ... Tax regulations can become very complex, causing you to hire a specialist tax adviser.
Explanation:
Choose the option that best matches the description given.
Providing assistance to people in need through programs is known as ___
services. a mental health b rehab c human
Answer:
Human services
Explanation:
The phrase leadership praise followers impact Public and punishment and five is really a statement concerning what two important parts of communication?
The phrase leader should praise followers in public and punish them in private is really a statement concerning what two important parts of communication?
Answer:
Encoding and Decoding
Explanation:
The two important parts of communication in this situation is known as Encoding and Decoding
To illustrate better, the Encoding implies that the sender (in this case the leader) sends the message (by praising the follower in the public) to an effect, (by utilizing certain means such as actions, words, etc, ) to ensure that the receiver can quickly grab the message.
At the same time, with the Decoding, the receiver (here the followers) quickly understood the message (praise in the public or punishment in the private by the leaders ) such that the meaning of the message is not lost.
Hence, in this case, the correct answer is Encoding and Decoding.
What happens if you only make the minimum payment on your credit card statement?
Offering only the minimum payment keeps you in debt longer and racks up interest charges. It can also put your credit score at risk.
A ___ liability company is a business structure that gives its owners the benefits of two types of business structures.
_____ partnership is a basic form of partnership that holds all the owners equally liable for any business debts that it might face.
Answer:
A limited liability companyA general partnershipExplanation:
A limited liability company LLC blends the features of a corporation and a sole proprietorship. An LLC requires a minimum of a person to form and has no upper limit.
Members of the limited liability enjoy the limited liability feature of a corporation. It means their obligations to the company's debts is limited to the level of capital contribution. If the company is liquidated, members will only lose their capital contribution. A limited liability company 'passes' its income as the income of members. The LLC does not have to file income tax returns just like a sole proprietorship business. Only owners of LLC are expected to file individual income tax returns.
A general partnership is a business structure made up of two or more partners. A general partnership is unincorporated, meaning the owners have unlimited liabilities to the debts of the business. Legally, the debts and assets of the general partnership belong to the partners.
Expansionary fiscal policy is used by the government to A. control inflation. B. reduce the national debt. C. create new jobs in the economy. D. reduce the budget deficit.
Answer:
Option C: Create new jobs in the economy
Explanation:
Fiscal policy is a federal government ability to keep the economy stable through highing or lowering taxes or government spending.
Expansionary Fiscal Policy is simply described as the higher rate in purchases by government, lower rate in net taxes that is targeted soas to bring about higher aggregate demand enough to lower unemployment back to equilibrium. Government aim to reduce unemployment by providing more jobs for the people.
Expansionary fiscal policy aim to decrease unemployment byincreasing government spending and/or lowering taxes.
Q. Keeping in mind the rural area to be targeted, being a marketing manager of xyz Co. Which proactive marketing would you use to serve the target audience? Justify
Answer: Use of Radio, Television, Billboards, magazine and newspaper
Explanation:
Proactive marketing marketing or advertising is advertising in areas or location that your product or service in the places where people are not already looking or asking. Example of proactive marketing strategies to use are Television, magazine, radio commercials, billboards. Radio, Television and billboards will travel faster, because they can see the billboards and Television, also majority use radio
mom???????????????????????
mom ??????????????????????
Answer:
Go back to bed sweetie, here some fruit snacks now go to sleep.There are no monsters under your bed honey.
Explanation:
Have a great day.
What principle of value states that if the increase in the value of the real estate is more than the cost to renovate, the sellers would financially benefit by doing the renovation?
Answer: Principle of contribution
Explanation:
The principle of value states that if the increase in the value of the real estate is more than the cost to renovate, the sellers would financially benefit by doing the renovation is referred to as the principle of contribution.
According to the principle of contribution, the worth of an improvement of a property has to do with its addition or contribution the the property's market value and not the cost of the improvement done.
A monopolistically competitive profit-maximizing firm is currently producing and selling 2,000 units of output. At this output level, marginal revenue is $9, average revenue is $10, and the average variable cost is $8. The product price is
Answer:
$10
Explanation:
Q = 2000 units . At this output level, Marginal Revenue = $9
Average Revenue = $10
Average variable cost = $8
The product price is $10 which is represented by average revenue curve.
Li works at a multinational company in New York. His wife has recently been diagnosed with an illness that might keep her bedridden for at least a month. Li will have to stay home to look after her. Which act provides Li with the ability to apply for leave at his company?
Answer:
The Family and Medical Leave Act
Explanation:
The family and medical leave act grants eligible employees of covered companies the right to unpaid and job-protected leave for medical reasons. The law requires qualifying employers to allow eligible employees to take unpaid leave to attend to serious family health matters. This law permits eligible or qualifying employees to take up to 12 weeks leave for reasons such as childbirth and a serious personal or family sickness.
25. Which economic system best defines: Lowest amount of economic freedom:
A. Capitalism
B. Socialism
C. Communism
I only have these three answer choices.
sold goods costing $1000 on credit at 25% profit. Show it in accounting equation form
Answer:
see below
Explanation:
The accounting equation is represented as Assets = Equity + Liabilities
From this transaction,
Stocks(assets) decrease by $1000
Debtors(asset) increase by $1000
Profits(capital) increase by $250 ( 25% of $1000)
Assets = Liabilities + Capital
stocks debtors revenue/gains
- $1000 + $1000 + $250
Ryan is a technical expert from whom the employees in an organization often seek suggestions when they face any technical issues at work. The network thus formed is an example of a(n) _____ network.
Answer:
Advice
Explanation:
Since in the question it is mentioned that the ryan who is a technical expert from whom the employees also take the suggestions when they are facing any kind of technical issue at their work place. So here the network is formed this network would become an example of an advice network where the technical expert give the suggestions to solve out the technical issue so that the problem could get solved
The decline in the popularity of clothing made from animal fur has enticed large department stores like J. C. Penney and Sears to discontinue sales of animal-fur products. How does discontinuing sales of these products by J.C. Penney and Sears affect the animal-fur clothing market
Answer:
Explanation:
What you are describing is a change in demand. First there was a change in the retail industry. When that happened, the demand from the big retailers went down. The wholesalers then cut back on what they bought from the people making the garments made out of fur.
It then hit the trapper who made his living from trapping wild animals. There was a chain reaction most felt by the trapper.
Please help i will give brainliest
Approximately how many people in the world have FB accounts?
50.4 million
1.7 billion
100 million
3.5 billion
Answer:
the answer is 3.5 billion i think
Answer:
3.5 billion
Explanation:
Mining Corporation purchases the business assets of Open Pit Inc., including its equipment and supplies, for an agreed-to price, payable in installments. Under the UCC, this transaction is
Answer:
A sales.
Explanation:
The uniform commercial code (UCC) is a set of standardized business laws which are put in place for the regulation of financial contracts and commercial transactions used across different states in the United States of America.
In this scenario, Mining Corporation purchases the business assets of Open Pit Inc., including its equipment and supplies, for an agreed-to price, payable in installments. Under the UCC, this transaction is a sales.
write in brief about training
Answer:
Training is teaching, or developing in oneself or others, any skills and knowledge or fitness that relate to specific useful competencies. Training has specific goals of improving one's capability, capacity, productivity and performance.
Explanation:
Hope it helps you:))
Five business ideas that interest me are starting a pet sitting service, opening a place that help disabled pets, opening up a place that can provide care for the mentally challlenged, starting a daycare service, and starting a service that helps parents with mentally challenging children. I think the best opportunity for me is to start a pet sitting service since it has a low startup cost, I can coose when I work and how many animals I have at a time. I can also work a job while doing this on the side, or until this grows enough to support me.
Explanation:
This can be an interesting idea to start entrepreneurship, since starting a pet sitter service just requires liking animals and publicizing the service, which can be done for free through social media. I believe this is a good opportunity to learn more about managing your own business, meeting a new network of people and understanding the service market, as well as being a source of extra income.
Entrepreneurship is all about identifying people's needs and turning them into products and services that can be profitable, in addition to being a great tool to assist in the development of individual skills, market knowledge, innovation capacity, etc.
Which of the following retirement accounts would traditionally be offered by an employer instead of a traditional pension plan?
- 403(b)
- Traditional IRA
- Roth IRA
- 401(k)
Answer:
Which of the following retirement accounts would traditionally be offered by an employer instead of a traditional pension plan? ... A Roth IRA is beneficial because your withdrawals are tax-free.
Explanation:
Which of the following retirement accounts would traditionally be offered by an employer instead of a traditional pension plan? ... A Roth IRA is beneficial because your withdrawals are tax-free.
Answer:
C. Roth IRA
Explanation:
After hearing an announcement made by a major soft-drink company, the APCS Soft Drink Company has decided to hire you to write a similar program to run their next-generation soda machine (which is still being developed). The concept behind this machine is that people buy more soft drinks when the weather is hot; and they will pay higher prices for their soft drinks at those times. This is an example of how supply and demand influences prices.
Answer:
Yes
Explanation:
Yes, this concept is an example of supply and demand. When there is a limited supply of a product like the soft drinks in the vending machines then the price would match the number of people that want to buy the product. If in a very hot day more people want to buy a soft drink to cool down then the supply will begin to decrease as more people buy, this will create an increase in price as people would be ok with paying more money in order to be one of the lucky few to get one of the few soft drinks that are left.
the role of the develpoed nation in helping the developing nations for sustainable develpoment of natural resources???pls help.
Answer:
Developed nations have an economic and moral responsability to help developing contries achieve sustainable development goals not only because developed nations have more money, but also because they are the main originators of climate change.
For this reason, developed nations should give funds to developing nations in order to fund projects such as solar, wind, geothermal, and nuclear power plants, and they should also provide technical assistance, since the population of developed nations tends to be more educated than that of developing nations.
When shopping for life insurance, the best strategy is to:
a.
Follow your agent’s recommendations. They are the experts and it is the agent's job to make sure you get the products that are right for you.
b.
Buy your coverage through your employer, if possible.
c.
Figure out how much you need, then comparison shop using the Web and other resources.
d.
Wait until you are older so that you can buy a cheaper, shorter term policy.
Answer:
c.
Figure out how much you need, then comparison shop using the Web and other resources.
Explanation:
I took the test
Answer:
C
Explanation:
Harriet is running a company that produces shoes. She had employed 100 workers in her factory and had the output of 300 shoes per week.
With 200 employees the output was 600 shoes per week. She then Increased the number of employees to 300. She found that the output only
Increased to 700. Which operational phenomena has Harriet observed here?
A.
economies of scale
OB.
law of diminishing returns
C. law of cost-price increase
D.
depreciation principle
E.
fluctuation correction
Answer:
B
Explanation:
It demonstrates law of diminishing returns. The law of diminishing marginal returns states that adding an additional factor of production results in smaller increases in output.
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The distribution of a good or service is called__.
a. economics
b. allocation
c. scarcity
Answer: A
Explanation:
Answer:B) allocation
Explanation:this means to distribute or divide something