Service revenue is $100,000 and expenses are $70,000.What is the net income to be closed to retained earnings? Need help
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Service revenue is $100,000 and expenses are $70,000.
What is the net income to be closed to retained earnings? Need help
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- Need help with this accounting question not use ai and chatgptI want to this question answer for General accounting question not need ai solutionUse the following information from separate companies a through d: Net Income (Loss) Interest Expense Income Taxes a. $ 111, 000 $ 59, 940 $ 27, 750 b. 105, 600 25, 344 38,016 c. 94, 350 25, 475 39, 627 d . 114, 100 4,564 54,768 Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due?
- Need solution to this financial accounting prblmretained earnings account should be debited. O income summary account should be credited. O retained earnings account should be credited. O income summary account should be debited. Question 6 The balance in the income summary account before it is closed will be equal to the net income or loss on the income statement. the beginning balance in the retained earnings account. the ending balance in the retained earnings account. O zero. Question 7 The income statement for the month of June, 2019 of Joseph Enterprises contains information: Revenues $7,000Fill in the chart (in the photo) Ie Will the following aje have a decrease, increase, or have no impact on: the current ratio and on the profit margin. Payroll debit 72,000 Accrued payroll credit 72000 Depreciation expense debit 125000 Accumulated depreciation credit 125000 Prepaid insurance debit 15000 Insurance expense 15000
- Which of the following items is not a specific account in a company's chart of accounts? Multiple Choice Sales Revenue. Income Tax Expense. Deferred Revenue. Net Income. *********Accounting financialI need help figuring: G. operating profit margin H. Long-term debt ratio (use end of year balance sheet figure) I. Total debt ratio (use end of your balance sheet figures) J. Times interest earn K. Cash coverage ratio L. Current ratio (use end of your balance sheet figures) M. Quick ratio (use end of your balance sheet figures)
- Use the following information from separate companies a through d Net Income (Loss) Interest Expense Income Taxes a. $ 182,000 $ 65,520 $ 45,500 b. 176,600 58,278 63,576 C. 154,700 d. 185,100 40,222 12,957 64,974 88,848 Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due? Complete this question by entering your answers in the tabs below. Times Interest Earned Ratio Interest Coverage Compute times interest earned. Times Interest Earned Ratio Company Choose Numerator: 1 Choose Denominator: Income before interest and taxes Interest expense 1 b I Ratio 0 times = 0 timesNeed help pleaseFill in the blanks using the Accounting Equation: Assets-Liabilities+Owner'sEquity. Case A B с Case A B Revenues Expenses Net C $30,000 $27,500 $12,500 E с $2,100 Income $23,300 $1,250 $3,500 A $750 $3,800 Assets $18,000 $12,000 D $15,000 In the three situations above, how much was in ending retained earnings for each case if the balances in the Capital Contribution portion of Owner's Equity were as follows: Capital Contribution Retained earnings Liabilities G H $8,000 F Owner's Equity B $3,500 $2,000
