subject
Business, 22.02.2021 20:10 erikamaldonado661

The income statement of Cheyenne Corp. for the month of July shows net income of $3,100 based on Service Revenue $6,700, Salaries and Wages Expense $2,000, Supplies Expense $1,100, and Utilities Expense $500. In reviewing the statement, you discover the following. 1. Insurance expired during July of $500 was omitted. 2. Supplies expense includes $250 of supplies that are still on hand at July 31. 3. Depreciation on equipment of $350 was omitted. 4. Accrued but unpaid salaries and wages at July 31 of $300 were not included. 5. Services performed but unrecorded totaled $700. Prepare a correct income statement for July 2019.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 09:40
Alpha industries is considering a project with an initial cost of $8 million. the project will produce cash inflows of $1.49 million per year for 8 years. the project has the same risk as the firm. the firm has a pretax cost of debt of 5.61 percent and a cost of equity of 11.27 percent. the debt–equity ratio is .60 and the tax rate is 35 percent. what is the net present value of the project?
Answers: 1
question
Business, 22.06.2019 15:40
As sales exceed the break‑even point, a high contribution‑margin percentage (a) increases profits faster than does a low contribution-margin percentage (b) increases profits at the same rate as a low contribution-margin percentage (c) decreases profits at the same rate as a low contribution-margin percentage (d) increases profits slower than does a low contribution-margin percentage
Answers: 1
question
Business, 22.06.2019 16:00
What is used by accountant to analyze transactions ?
Answers: 2
question
Business, 22.06.2019 19:10
After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.
Answers: 2
You know the right answer?
The income statement of Cheyenne Corp. for the month of July shows net income of $3,100 based on Ser...
Questions
question
History, 05.07.2019 13:10
question
Social Studies, 05.07.2019 13:10
Questions on the website: 13722367