The Bake Shop earned $500 in revenue, incurred $200 in expenses and paid $400 in salaries. What is the net income or net loss for The Bake Shop? $100 Net Income $100 Net Loss $0 - broke even $500 Net Income
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$100 Net Income
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$100 Net Loss
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$0 - broke even
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$500 Net Income
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- Accounts Amount Total Sales Revenue Travel expense (salespersons) Insurance expenses Cost of goods sold Sales commissions Sales salaries 1,578,500 10,000 6,000 896,770 100,000 100,000 62,300 30% 13,520 18,000 31,150 38,000 8,785 30,000 Sales returns Tax rate Depreciation of office furniture and equipment interest expense Sales discounts Dividend revenue Delivery expense Depreciation of sales equipment Gross Profit??determine the following d. bad debts expense Prepare a function of expense SCI. Additional information:a. Depreciation of P5,000 is for computer equipment used in the administrativeb. Amortization is attributed to office leasehold improvements.c. 40% of salaries are attributed to sales personnel.d. Utilities for the store represent 35% of utilities expense.e. Rent for the office space is P20,000.Consider the overall effects on Global Cleaning Service from selling and performing services on account for $6,400 and paying expenses totaling $2,500. What is Global Cleaning Service’s net income or net loss? Net income of $3,900 Net loss of $3,900 Net income of $6,400 Net income of $8,900
- Net sales $100,000 Cost of goods sold $30,000 Rent received $20,000 Salaries $10,000 Insurance $6,000 Depreciation $8,000 Calculate Net profit using above detailsPlease help me prepare an income statement for this: ACCOUNT AMOUNT Revenue 500,000 Cost of Good Sold 300,000 Wage Expense 100,000 Rent Expense 30,000 Supplies Expense 20,000 Utilities Expense 10,000 Promotion Expense 50,000For every P500 worth of services rendered to customers, the Uranus Company has to pay P250 for salary expense, P18 for supplies and P45 for miscellaneous expense. Service income totaled P250,000. What is the company's profit (loss)?
- 4. Mr.Wang plans to leave his job as a professor of a college to open his own outdoors goods store. He forecasts the income statement of a normal year as follows: Revenues Revenue from sales of goods and services Operating costs and expenses Cost of products and services sold Selling expenses Administrative expenses Total operating costs and expenses Gross margin from operations Interest expense (bank loan) Non-recurring expenses to start business ¥310,000 ¥92,000 ¥6,000 ¥12,000 ¥100,000 ¥100,000 ¥4,000 ¥18,000 Income taxes ¥6,000 Net income ¥72,000 Mr.Wang's teaching job earns him ¥65,000 of annual salary and benefits. To get his outdoors goods store opened, Wang used ¥20,000 of his savings at bank, which is earning a guaranteed 10 percent annual rate of return. Wang's store will use the business floor space he bought before, and the floor space is now rented out in return for the rental of ¥10,000 per year. (1) How much is the estimated total explicit costs for using market-supplied…Ian is entering an invoice in the accounts. The invoice shows the following costs: Manufacturing equipment Delivery Maintenance charge Sales tax Invoice total $39,900 $1,000 $3,980 $7,854 $52,734 What is the total value of capital expenditure on the invoiceCalculate the net income for a company given the following information: Revenue: $50,000 Cost of Goods Sold: $20,000 Operating Expenses: $10,000 Interest Expense: $2,000 Tax Rate: 25% . .
- O I don’t know what I made wrong with this problem. I had to find out the missing amount and everything went perfect until I try to make the income statement. The balance sheet shows an retained earning Of $5000 However when I tried to make the income statement the result is diferent Feed earned 26250 Expenses Wage. 6475 Rent. 5275 Supplies 4650 Utilities 1310 Miscellaneous. 385 Total in expenses $18,095 Net income .$8155 It differs from the retained earning gave it to me in the problemCarrefour Company's gross profit is OMR 550,000. The other balances are: Insurance OMR 70,000, Rent received OMR 50,000, Salaries and wages OMR 65,000, Advertisement OMR 20,000 and Utilities OMR 35,000. In this case, the Net income before interest and tax will be: O a. None of these O b. OMR 445,000 O c. OMR 460,000 O d. OMR 410,000The following are the respective costs and revenues incurred by USA company: costs for months 1, 2, 3: $80,000.00, $90,000.00, $100,000.00 Revenues for months 2, 3, 4: $70,000.00, $95,000.00 $105,000.00 The USA company wants to know from you if it has made any profit or not. What will be your answer and explain? Use interest= 12%