Answers
The income statement and statement of financial position for Lakshmi's business for the year ended 31 January 20-1 is given.
How to depict the income statementIncome Statement
Revenue
Sales $10,000
Commission receivable $30
Total revenue $10,030
Expenses
Cost of goods sold $5,000
Rent $1,200
Rates $300
Insurance $1,000
Wages $2,400
Depreciation (office equipment) $1,000
Depreciation (motor vehicles) $500
Provision for doubtful debts $200
Total expenses $9,400
Net income $630
Statement of Financial Position
Assets
Current assets
Cash $1,000
Trade receivables $9,000
Less: Provision for doubtful debts $180
$8,820
Inventories $1,200
Office equipment $2,000
Accumulated depreciation (office equipment) $400
$1,600
Motor vehicles $3,000
Accumulated depreciation (motor vehicles) $750
$2,250
Total current assets $13,770
Non-current assets
Land and buildings $10,000
Total non-current assets $10,000
Total assets $23,770
Liabilities
Current liabilities
Trade payables $3,000
Wages payable $320
Rates payable $90
Insurance prepaid $200
Total current liabilities $3,610
Non-current liabilities
Bank loan $5,000
Total non-current liabilities $5,000
Total liabilities $8,610
Equity
Capital $15,160
Retained earnings $0
Total equity $15,160
Total liabilities and equity $23,770
Learn more about income statement on
https://brainly.com/question/28936505
#SPJ1
Related Questions
what's the answer? please help, it's overdue
Answers
Answer: Honestly in my opinion that's a no
Explanation: because that's there imagine without them they wouldn't be able to get that image up and making profit therefore the player should get a cut of the profit that is made.
An oligopoly is a market structure in which a large number of firms dominate the market. T or F
Answers
Answer: F
Explanation:
An oligopoly is a market structure in which a large number of firms dominate the market.
An oligopoly is a market structure in which a large number of firms dominate the market. FALSE.
brief explain difference between moa and aoa ?
Answers
Answer:
The MOA (Memorandum of Association) describes the powers and objects of the company, the AOA (Article of Association) defines its rules and the AOA (Articles of Association) is subordinate to the memorandum.
Which of these is NOTa concern for consumers in times of inflation? a.They cannot anticipate the cost of goods and services. b.They lose money on their investments and savings. c.They are at a disadvantage when paying back borrowed money. d.They struggle when they are on a fixed income.
Answers
Answer:
c.They are at a disadvantage when paying back borrowed money.
Explanation:
In any economics of a country, inflation may be defined as the fall of the value of the money or currency of a country over a period of time. In inflation, the general price level increase and the value of money decreases.
Due to inflation, with each currency unit, less of goods or services can be bought. In inflation, the consumers are not concern about the disadvantage when they pay back the money that they borrowed because the value of the money decreases. Money decreases its value but the demand of goods and services increases in the economy.
By law, an accountant must hold a CPA designation in order to
?
Answers
Answer:
The CPA designation isn't required to work in corporate accounting or for private companies. However, public accountants—which are individuals working for a firm, such as Deloitte or Ernst & Young, that provides accounting and tax-related services to businesses—must hold a CPA designation.
Explanation:
Answer:
Prepare audited or reviewed financial statements.
Hope this helps :)
Shareholders had a good year, earning a 29% annual rate of return. The PE ratio today is 10.0 and the company just announced earnings per share of $2.50. The company has a 90% payout ratio. How much did the stock price change over the past year?
Answers
Answer:
$3.68
Explanation:
Rate of return =29%
PE ratio = 10.0
Earning per share = $2.50
P1 = PE ratio * EPS
P1= 10*2.50
P1 = $25
Payout ratio = 90%
Dividend = 2.50*90%
Dividend = $2.25
Rate of return = (P1+D1-P0)/P0
0.29= (25 + 2.25 - P0)/P0
0.29 P0 = 27.50 - P0
1.29P0 = 27.50
P0 = 27.50/1.29
P0 = $21.32
Change in stock price = $25 - $21.32
Change in stock price = $3.68
How do I find the cash flow coverage ratio?
Answers
Explanation:
There are a few different ways to calculate the cash flow coverage ratio formula, depending on which cash flow amounts are to be included. A general measure of the company’s ability to pay its debts uses operating cash flows and can be calculated as follows:
Cash flow coverage ratio = $80,000,000 / $38,000,000 = 2.105Cash flow coverage ratio = ($64,000,000 + $4,000,000 + $8,000,000) / $38,000,000 = 2In what type of economy do individuals and firms determine what will be produced?
Mixed
Traditional
Market
Command
Answers
Answer:
market
Explanation:
what percentage of CTE learners enroll in post secondary education?
Answers
Answer:
10th-grade public school students in 2002 who were CTE concentrators in high school, 72 percent enrolled in postsecondary education by 2006, or two years after their expected year of high school graduation, and 84 percent enrolled by 2012, or eight years after their expected year of high school graduation.
Answer:
75% – Percentage of high school students concentrating in a CTE discipline who pursue post-secondary education 43% – Percentage of young workers holding a CTE-related license or certificate who earn more than those holding an associate degree
Explanation:
Janice, a nurse at a hospital, is preparing a presentation for trainee nurses about guidelines for patient care. What is the purpose of her
presentation?
A. to persuade
B. to instruct
C. to entertain
D. to debate
Answers
Answer:
B
Explanation:
To teach and acknowledge the guidelines for trainee nurses to help patients in an effective way
HELP PLEASE!!!
what is the outcome when a person defaults on a home loan?
A. the person goes to jail.
B. the bank will make the person work a second job.
C.the bank will take the person's car.
D.the bank will foreclose on the home.
Answers
Answer:
D.the bank will foreclose on the home.
Explanation:
The bank may even sue and garnish wages and financial accounts. The bank may even serve a conversion of accetts.
Suppose the GDP of the entire European Union is 350,000 euros and the exchange rate between euros and USD is 0.66 EURO=$1. What is the GDP of the European Union when measured in USD? Round your answer to the nearest hundredth.
Answers
Answer:
the GDP of the European Union is $530,303.030
Explanation:
The computation of the GDP of the European Union is shown below:
= Entire european union × euro ÷ exchange rate
= 350,000 euros × $1 ÷ 0.66
= $530,303.030
Hence, the GDP of the European Union is $530,303.030
We simply applied the above formula
What would Jamie Lee's financial liability have been had she waited more than two days to report the debit/ATM card lost or stolen
Answers
Explanation:
If Jamie notifies the bank within 2 days of the lost card , her liability for unauthorized would be $50.
Jamie Lee's as the account holder is financially responsible for any form of transfers or withdrawals that has or will be made from their accounts and until He report the theft, he will be liable to all withdrawals.
What is a Checking Account:A checking account is known to be a kind of bank account that is often used by people as a deposit account.
The usual amount deposited by them in this account is known to be used for paying bills and other form of purchases.
Base on the fact above, Jamie Lee's would be liable for his financial liability because she had waited for more than two days to report her debit/ATM card lost or stolen and as such any theft that happen within those two days on her account is her fault.
Learn more about checking account from
https://brainly.com/question/24751568
What are three elements of negligence?
Actual Harm
Breach of duty
State of mind
Duty of care
Proximate cause
Motive
Answers
Answer:
actual harm
breach of duty
duty to act
who wants to make a call??
Answers
Answer:
Zoom you mean?
Explanation:
Answer:
I want to call my mom,lol
Facts about the chip category obtained from AC Nielsen are?
syndicated data.
survey data.
questionnaire data.
primary data.
experimental data.
Answers
Answer:
Explanation:
Then what is the question
HELP ME PLEASEE!! ILL GIVE CROWN!!!
which of the following should credit be used for?
A. small things you want
B. large things you need and that you can repay over time.
C. money that you can never afford to repay.
D. purchasing things you want so you dont have to save.
Answers
Answer:
B
Explanation:
Credit should be used for large things that you can't afford at the moment but over time will be able to repay (like bills). You should never purchase things that are too expensive for you to repay (within a year.)
____ reading will increase your focus and concentration, help you understand the reading, and prepare you to study.
Answers
Answer:
Active.
Explanation:
Active reading can be defined as a process which typically involves an individual being focused on his or her study. It is aimed at acquiring knowledge and understanding of a particular subject or topic without distractions.
Hence, active reading will increase your focus and concentration, help you understand the reading, and prepare you to study.
HELP FOR CROWN!!!
what is one thing a bank will require you to have when you ask for an auto loan?
A. keys to the car
B. proof of auto insurance
C. driver's license
D. letter of recommendation
Answers
Answer:
It is either C or D
Explanation:
Answer:
Driver's License
Which of these is NOT a concern for consumers in times of inflation?
a.They cannot anticipate the cost of goods and services.
b.They lose money on their investments and savings.
c.They are at a disadvantage when paying back borrowed money.
d.They struggle when they are on a fixed income.
Answers
Answer: D
Explanation:
Which part of the check gives the bank permission to release the money?
Answers
Answer:
And even though all national banks and federally chartered credit unions are subject to the same hold rules, each institution can release your funds sooner at its discretion. By understanding the rules of funds availability, you can ensure you'll have access to your money when you need it.:
The risk-reward relationship says:
Answers
Matt works part-time and is paid $6.75 per hour. Determine Matt's gross pay (hours worked x hourly rate of pay) for last week when he worked 20.25 hours. Round your answer to the hundredths place.
Answers
Answer:
Matt's gross pay (hours worked x hourly rate of pay) for last week when he worked 20.25 hours is equal to $136.69
Explanation:
Per hour amount paid to Matt = $6.75
Total number of hours worked by Matt = 20.25
To find Gross pay, multiply hours worked and hourly rate of pay.
Therefore,
Matt's gross pay (hours worked × hourly rate of pay) for last week when he worked 20.25 hours [tex]=20.25(6.75)=\$136.6875[/tex] ≈ $136.69
What careers are in the Information Support and Services career pathway of the IT career cluster? (15 points for you)
Question 1 options:
graphic artists, painters, artists
broadcasters, journalists, writers
help desk specialists, PC support specialists
Answers
If the food handler has been diagnosed with one of the Big 6 pathogens
they can return to work 24 hours after showing no symptoms.
TRUE
FALSE
Answers
Answer:
False.
Explanation:
equity shareholders are called what
Answers
Answer:
owners
Explanation:
Shareholders' equity represents the amount invested by the owners of a company in the business by either retaining earnings over time or by investing money in it. The shareholders' equity is a form of a company's net assets. Equity shareholders are also known as Equity Stockholders.
The equity shareholders of a company are called its owners.
Por que se dice que emprender suele ser una decisión muy difícil quien la toma sabe que esta renunciando a la estabilidad que otorga un salario
Answers
Answer:
porque se dice que quiero tomar el siguiente
Gianna put $1,000 in a savings account for 18 months. The interest on the account is 3.5%.
How much will Gianna earn in interest? What amount will she have at the end of the time period?
Answers
Answer:
You will earn $52.96 in interest
You have $1,052.96 in total.
In VAT (Value added tax) is it profitable to buy in large or small quantities?
Answers
What does the term 'user
experience' refer to regarding a
website?
A. the overall ease of navigation and ability to
purchase on a company's website
B. the general experience a customer has when
using a product of a business
C. the customer experience when dealing with
customer service representatives
Answers
Answer:b
Explanation: