Prepare an income statement for the question provided below in the picture. Thank you

Answers

Answer 1

The income statement for Jim blossom has Net income of :$41,493.

What is income statement?

Income statement can be defined as the statement that shows the income and expenditure generated by a company in which net income means that revenue is higher than expenditure while net loss means that expenditure is higher than revenue.

Income statement can be calculated using this formula

Income statement= Revenue - Expenses

Now let calculate the income statement for Jim blossom:

Income statement for the year ended 31 December 2024

Revenue:

Service revenue $156,998

Expenses:

Insurance expenses $3,869

Interest expenses $1,029

Operating expenses $3,373

Salary expenses $89,330

Supplies expenses $20,904

Total expenses $118,505

Net income $41,493

( $156,998-$118,505)

Therefore the income statement for Jim blossom has Net income of $41,493.

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Related Questions

A craft shop buys stuffed animals with a list price of $7,000. If the wholesaler offers trade discounts of 35/35/35, find the net price factor.
• 0.04288
• 0.21600
• 0.27463
• 0.34300

Answers

Based on the wholesale trade discounts offered by the seller to the craft shop that buys stuffed animals, the net price factor is 0.27463

What is the net price factor?

First, find the difference between 100% and the trade discounts:

= 100% - 35%

= 65%

The difference is 65/65/65.

To find the net price factor, multiply these differences:

= 0.65 x 0.65 x 0.65

= 0.274625

= 0.27463

In conclusion, the net price factor based on the trade discounts offered of 35/5/35 and a list price of $7,000 is 0.27463.

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How is net pay different from gross pay

Answers

Answer: It's different because one is the amount of money before you get some taken out.

Explanation: Net pay is the money after some is taken out, I think ( I don't really remember to be honest sorry lol)

Gross is the full amount paid by the employer
Net Pay is the amount that the employee receives in his or her paycheck

Imagine you have been hired as the first HR manager at a small start-up business. You learn that the owner, who interviews all job candidates, believes that structured, skills-focused interview questions are "boring" and "not cool How would you advise this person about the selection process?

Answers

Answer:

Explanation:

Answer.

What is a selection process?

A selection process involves screening, selection, hiring of a candidate who could fulfil the job requirements and accomplish the given tasks and duties in the organization.

This selection process may involve different types of interviews like structured, skills-focused, unstructured which are used by different interviewers depending upon the needs of the job and their organizations.

How a selection process can be taken up under the given scenario?

Selection process of every organization differs from another and selection of interview type and whole process of selection also differs from one interviewer to another.

This states selection process and interview type are both subjective in nature and there is no fixed rule which applies over here.

But in order to conduct a selection process an interviewer must follow some important points which includes-

1. Nature of job

The most important thing which comes in a selection process is studying the nature of the job. If the interviewer does not know what is the job all about. how will he conduct the selection process?

Without knowing about the nature of the job and its requirements, interviewer cannot decide the correct interview pattern and methodologies to be followed during the whole process, which means understanding the nature of job is very important.

2. Type of organization

Another important thing to be kept in mind is understanding and analysing the type of organization, interviewer is conducting the selection process.

Example.

A manufacturing company may follow different selection process when compared with a company engaged in providing customer services.

3. Be situational

An interviewer must be situational and respond to the things as they arise. He must have innate abilities to analyse the situations and act accordingly so that a best candidate is selected and organization's motive gets fulfilled.

Example.

Every candidate has his/her own personality and way of thinking and therefore this must be analysed well by the interviewer as he cannot follow same interview approach with everyone and therefore he must understand the behavior of the candidate, see the other job requirements and accordingly ask questions which are valid.

Conclusion

Selection process is a subjective concept which means no organization can apply the same set of procedures and rules in a uniform manner and adopt a standardised method and process of selecting the candidates.

But there are some important considerations which an interviwer must keep in mind during the selection process and hire the best choice for the company.

Which of the following would be considered a "desired competency" for a candidate for a graphic design position?
A. Experience with graphic design in a corporate setting
B. Skills in drawing and design
C. Knowledge of graphic design software
D. Coursework and experience in brand development

Answers

The statement that would be considered a "desired competency" for a candidate for a graphic design position is: B. Skills in drawing and design.

What is desired competency?

Desired competency can be defined as those skills and qualities that a person posses that will enables them to succeed in their choose field or career.

A person with a desirable competency must be efficient and must have the necessary skills that an employer or recruiter expected them to posses.

Therefore the statement that would be considered a "desired competency" for a candidate for a graphic design position is: B. Skills in drawing and design.

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•Who manages Eskom ?

Answers

Answer:

Mr.Andre de Ruyter is the Chief Executive (GCE) of Eskom

Which question can help us avoid a decision that would injure our self-esteem?

Multiple Choice
a. Is it legal?
b. Is it balanced?
c. How will it make me feel about myself?
d. How can I avoid taking the blame?

Answers

The question that can help us avoid a decision that would injure our self-esteem would be "How can I avoid taking the blame" Option D

This is further explained below.

What is self-esteem?

Generally, Confidence in one's own capabilities or worth is an essential component of healthy self-esteem.

Beliefs about oneself and one's emotional states, such as victory, despair, pride, and shame, are all included in what is referred to as self-esteem.

In conclusion, Asking ourselves, "How can I avoid accepting the blame?" is a question that may guide us away from making a choice that would be detrimental to our sense of self-worth. The D Option

Answers

Compare the unit price of similar Items to the one you want.

When deciding what to buy, it is recommended to compare the unit price of similar items to the one you want. This will help you make an informed decision based on value for money rather than just focusing on the price or brand name. Therefore, option D is correct.

How to decide what to but?

Deciding what to buy involves several steps that can help you make an informed decision:

Identify your needs: Determine what you need and why you need it. This can help you prioritize your purchases and avoid impulse buying.

Set a budget: Determine how much you are willing to spend on the item. This will help you narrow down your options and avoid overspending.

Research: Research the item you want to buy, compare prices, and read reviews. This will help you make an informed decision and avoid buyer's remorse.

Consider alternatives: Consider alternative products or brands that may meet your needs and budget better.

Make the purchase: Once you have made your decision, make the purchase and be confident in your choice.

Remember, the key to deciding what to buy is to be mindful of your needs, budget, and available options, and to avoid impulsive purchases.

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All of the following characteristics would describe entrepreneurs, except

Answers

Answer: risk-averse

Explanation:

Fill in the blanks in the table below:
Year
2005
2010
2015
Nominal Value
275
500
Real Value
250
300
CPI (times 100)
130
125

Answers

Answer:

Nominal :25

Real value :40

CIP:20

Gull Corporation, a cash method, calendar year C corporation, was formed and began business on November 1, 2021. Gull incurred the following expenses during its first year of operations (November 1, 2021–December 31, 2021): Expenses of temporary directors and organizational meetings $21,000 Fee paid to state of incorporation 3,000 Expenses for printing and sale of stock certificates 11,000 Legal services for drafting the corporate charter and bylaws (not paid until January 2022) 19,000 Question Content Area Round the per-month amount to two decimal places. Round the final answer to the nearest dollar.
a. Assuming that Gull Corporation elects under § 248 to expense and amortize organizational expenditures, what amount may be deducted in 2021? Gull Corporation's deduction for 2021 is?
b. Assume the same facts as above, except that the amount paid for the legal services was $28,000 (instead of $19,000). What amount may be deducted as organizational expenditures in 2021?

Answers

1. If Gull Corporation elects under § 248 to expense and amortize organizational expenditures, the amount that may be deducted in 2021 is $54,000.

2. If Gull Corporation elects under § 248 to expense and amortize organizational expenditures, the amount that may be deducted in 2021 is $63,000.

What are organizational expenses?

Organizational expenses are those incurred when a company is being set up or created.

The law allows corporations to expense their organizational expenses in the year they are incurred.

However, a corporation with a limited life can elect to amortize the organizational expenses for the life of its duration.

Data and Calculations:

Expenses of temporary directors and organizational meetings $21,000

The fee paid to the state of incorporation 3,000

Expenses for printing and sale of stock certificates 11,000

Legal services for drafting the corporate charter and bylaws (not paid until January 2022) 19,000

Total organizational expenses = $54,000

Thus, Gull Corporation's deduction for organizational expenses for 2021 is $54,000 or $63,000 as the case may be.

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In what way can a manufacturer of consumer durables seek to gain a better understanding of it's marketing environment?

Answers

The better way a manufacturer of consumer durables seek to gain a better understanding of its marketing environment is through the media. The media can document all the problems surrounding stores and manufactures via searching at how they're doing economically.

A customer is a person or a collection who intends to reserve, orders, or makes use of bought items, merchandise, or services typically for personal, social, circle of relatives, family and similar wishes, not at once related to entrepreneurial or commercial enterprise activities.

Purchasers constitute the top trophic levels. In contrast to manufacturers, they cannot make their own food. To get energy, they devour plant life or different animals, while some consume each. Scientists distinguish among numerous sorts of clients. Number one clients make up the second trophic degree.

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To overcome anxiety about asking questions in class, you should remember you are
not alone and aim to build on others' questions.

True or False

Answers

Answer:

true

Explanation:

Answer:

that is true

Explanation:

Which of the following types of culture has roots that mean temporally or specialized

Answers

The answer is Adhocracy culture

_____ are tangible items you can touch and use such as computers, furniture, and luggage

Services

Businesses

Companies

Goods

Answers

Goods

Services, businesses and companies cannot be physically touched :)

Goods is the answer, I hope this helps you!

What business-environment factors needs to be monitored and
assessed in order to deal with corporate tax rates?

Answers

The business-environment factors that needs to be monitored and assessed in order to deal with corporate tax rates are:

corporate culture and valuesleadershipproduct qualityfinancial policies.

What is an environmental forces?

These are forces that shapes a companies. It to those factors from outside the organization that influences entrepreneurs to adjust their business organization accordingly not to affect achieving the firm's goal. These factors are limited to societal, technological, environmental (natural atmosphere), economic and political forces.

In conclusion, the factors that needs to be monitored and assessed in order to deal with corporate tax rates are corporate culture and values, leadership, product quality, financial policies etc.

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Which of the following is not a key aspect of training and development, rather it is a focus of OD?

Question 10 options:

learning is the sole objective, such as a new skill, system, or procedure

systemic organizational change efforts

programs developed for large audiences

needs assessment, course development, technology usage, and on-the-job training

Answers

Systemic organizational change efforts are not a key aspect of training and development, rather it is a focus of OD. Thus, option B is correct.

What is training?

Training can be defined as the part where the physical, as well as theoretical descriptions of things, are being given to the people.

The systematic organizational tool does not provide training and development. As in the change, the person is more acquainted with the goals and the power of the people.

It entails developing and implementing company policies, institutions, processes, and technology to address change in the company's setting and other use in the wider world. Therefore, option B is the correct option.

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Property Insurance Company is a new property insurer. The company is growing rapidly because of a new home-owners policy that combines traditional homeowner coverages with insurance that pays off the mortgage if the insured dies or becomes totally disabled. Premiums writ-ten have increased substantially; new agents have been hired; and the company is considering expanding into additional states. However, its growth has been hampered by statutory accounting rules that require an insurer to write off immediately its first-year acquisition expenses but do not allow full recognition of premium income until the policy period has expired. In this case, explain how reinsurance will enable Property Insurance to continue to grow in an orderly fashion.

Answers

Answer:

Explanation:

According to collect from the data

Let us assume that the data as followed by

When it comes to homeowner's insurance, there's no such thing as an option. It's not just for safety's sake; it also helps keep your family protected. Every lender wants to see proof of insurance coverage for the full or fair market value of a home (usually the purchase price) before they can issue or finance a mortgage or residential real estate transaction. Many landlords require renters to get renter's insurance, even if they don't own a home. Having this level of security is a good idea whether or not it is required. We'll go through the basics of homeowner's insurance coverage today.

Policies for homeowners frequently cover both the interior and exterior of a property, as well the loss or theft of private items and the owner's personal liability for third-party damage. In terms of coverage, the three primary options are: actual cash value (ACV), replacement cost (RCC), and combined ACV/RCC. If you submit a claim, your insurer determines how likely it is based on your claim history, the neighbourhood, and the current state of your home. When looking for insurance, seek quotes from at least five different companies and check with any insurers you already work with to see if they can offer you a better deal.

35. A listing contract that spells out terms and conditions for the seller and broker is what type of agreement?

Answers

A listing contract that spells out terms and conditions for the seller and broker is a Written or Expressed agency agreement.

Express agency is an agreement that is signed in writing and is made between the principal and the agent. The contracts give the agent authority granted by the principal through an agency agreement.

An Express agency is a real agency established by a verbal or written agreement between the agent and the principal. The Principal hereby appoints the Agent hereunder to act as the Principal's agent. An express agency, for instance, is a documented listing agreement between a broker and a real estate seller. An agency agreement outlines the conditions of the agency, including what the agent is allowed to do and how much is paid for the agent's services. The agreement also grants the agent the power that the principal specifies, such as the only able to act in her place.

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Which is true of a health savings account but not a flexible spending account?
A You can use it to pay for prescription medicines.
B You can use it to pay for over-the-counter medicines.
C You must spend the money in it within a certain period of time.
D You can get the account only if you have a health insurance plan with a high deductible.

Answers

The correct answer is A. In case of health savings account (HSA) you can use it to pay for prescription medicines.

Without incurring any federal tax burden or penalties, HSA funds can be used whenever necessary to cover eligible medical expenses. Since early 2011, over-the-counter pharmaceuticals could not be purchased with an HSA without the need for a prescription from a physician; however, effective of January 1, 2020, this restriction has been removed. The treatment of withdrawal for non-medical expenses is quite similar to that of withdrawals from an individualized retirement account (IRA), in that they may result in tax benefits if made after retirement age and penalties if made before. A part of consumer-driven healthcare is the accounts.

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most managers are mba graduates. no mba graduate is a ceo. all ceos are managers.

Answers

Claims 1 and 3 are consistent with the information that has been presented. Therefore, the solution that you should choose is option 3.

Only 2 follow Option C

This is further explained below.

What is MBA?

Generally, Given the fact that no MBA graduate now holds the position of CEO, this demonstrates that statement 4 does not follow the information that has been shown, however, statement 3 does follow the information that has been presented.

Now, it is common knowledge that all CEOs also have managerial positions, but this does not necessarily imply that all managers also hold CEO positions. Therefore, assertion 2 does not make sense in light of the evidence presented.

Since we are aware that the vast majority of managers have an MBA degree, this lends credence to the assertion that some MBA graduates hold managerial positions. Therefore, it is safe to argue that assertion 1 is supported by the data presented here.

In conclusion, claims 1 and 3 are consistent with the information that has been presented. Therefore, the solution that you should choose is option 3.

Answers

The opportunity costs are:

a. The sneakers that Ned could have bought with the $800.

b. The food that Cersei does not buy.

c. Professor Plaksa’s Macroeconomics course

What is opportunity cost?

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. Opportunity cost is also known as implicit cost. Opportunity cost arises because humans wants are without limits and the resources (e.g. time, money) needed to meet the needs are available in limited quantities.

When Deanery chooses the cost accounting class, she would not be able to attend the macroeconomics class also. Thus, Deanery is forgoing the macroeconomics class. This is her opportunity cost.

Cersei is sacrificing more food for prescription medication. The food he could have consumed represents the opportunity cost.

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As a senior history teacher, shouldn't he be more aware of China's history and culture? How can the good education provided by the state be so wasted to act humiliating to the country and wantonly preach things that are inconsistent with history, which makes people unable to imagine a concern People in history are so concerned about the Xuzhou Eight-Child Incident! Distorting the facts, using hot events to hype and smear, this has always been the usual tactic of overseas anti-China forces. The truth of this incident has been revealed, and those who made mistakes are punished, but there are always people who want to mislead the people who do not know the truth into their traps. In order to gain everyone's attention, the most severe measures should be taken to combat these people. People who know right from wrong will also despise such despicable people

Answers

The senior history teacher is very aware of China's history and culture, steeped in suppression and oppression, at least for Westerners, rather than the famous Chinese culture of harmony, righteousness, honesty, and filial piety.

What is Chinese professed culture?

Chinese professed culture celebrates the Chinese contributions to the world in the areas of ceramics, architecture, music, literature, martial arts, cuisine, visual arts, philosophy, and religion.

Philosophically, the Chinese speak of harmony, benevolence, righteousness, courtesy, wisdom, honesty, loyalty, and filial piety.

But something that is missing in any discussion of Chinese culture is individual liberty. Outsiders understand that China is a populous nation, perhaps, too difficult to be organized under other government systems other than Communism.

In the spirit of Communism, instead of Elitism, the Chinese authorities should help the individual citizens, notwithstanding their gender, to be accorded civil liberties, fundamental to human existence.

Thus, the Chinese people should realize that outsiders have not ganged up against them, rather they want to see improvements in upholding human rights, as culture is not all about arts but human life.

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Please discuss why an organization might choose one MNE business strategy over another. Does the strategy ever change? Explain.

Answers

Not all multinational corporations employ the same business strategy due to the range of sorts of multinational companies, which vary in industry, size, and other factors such as location, products offered, etc.

How to explain MNE?

Business professionals frequently need to find strategies to adapt to the cultures and civilizations in which they operate and conduct business in order to achieve sustained global business development.

The advantage of multinational enterprises (MNEs) as an institutional form for regulating cross-border transactions, the chance to integrate knowledge from various geographic sources, and the necessity of striking a balance between efficiency, flexibility, and learning priorities are all discussed in the MNEs' strategy.

Therefore, it should be noted that multinational corporations employ the same business strategy due to the range of sorts of multinational companies, which vary in industry, size, and other factors such as location, products offered, etc.

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Which of the following is NOT a position in the Administrative Support pathway?

Receptionist

Teacher

Administrative Assistant

Medical Transcriptionist

Answers

The teacher is the position that is not found in the Administrative Support pathway.

What is the Administrative Support pathway?

This is the term that is used to refer to all of the occupations that can help to facilitate the different operations that would be done in an organization that would have to do with a variety of duties that may involve the communication and the information centers, the duties of processing data and its collection and all that has to do with the tracking of projects.

Hence we would say that The teacher is the position that is not found in the Administrative Support pathway.

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At the market close on May 12 of a recent year, Sherman Corporation had a closing stock price of $110. In addition, Sherman Corporation had a dividend
per share of $5.39 during the previous year.

Answers

Sherman Corporation's dividend yield is 4.9%.

What is the dividend yield?

The dividend yield is the financial ratio that explains the percentage of a company's share price paid out in dividends annually.

Investors calculate the dividend yield to evaluate the potential investment company's ability to meet their financial needs, depending on their return expectations.

Some investors favor dividend-paying investments to maintain their financial strength. Some other investors value investment growth more than dividend payments.

The formula for Dividend yield is Dividend per share divided by the current share price per unit, multiplied by 100.

Data and Calculations:

Stock price = $110

Dividend per share = $5.39

Dividend yield = 4.9% ($5.39/$110 x 100)

Thus, Sherman Corporation's dividend yield is 4.9%.

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Question Completion:

Determine Sherman Corporation's dividend yield. (round to one decimal place)

What risks do organizations face when dealing with international finance activities?

Answers

The risks organizations face when dealing with international finance activities political risk, Market risk, and foreign exchange risk.

What is Risk?

Risk refers to an event of uncertainty that can occur and damage the likelihood of the business. This is refer to any exposure to harm or danger which affects the operations.

When organizations deal with international finances they faced risks related to political changes which include a change in the policy of the government.

It includes foreign exchange risk, which can cause a decrease and increase in the profit of any organization due to fluctuations in the currency of any country.

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An American worker can produce either 5 cars or 8 tons of grain a year. A Japanese worker can produce either 4 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers.

Answers

Based on the cars or tons of grain that an American worker can produce and the quantity a Japanese worker can produce, the number of workers needed to make one car or 1 ton of grain in the U.S. and Japan is:

Workers Needed to Make

1 car 1 ton of Grain

United States 1/5 1/8

Japan 1/4 1/9

How many workers are required?

An American Worker can produce 5 cars or 8 tons of grain a year. To produce 1 car therefore:

5 cars : 1 worker

1 car : x workers

= 1/5 workers per car

This means that the workers needed for 1 ton of grain is:

= 1/8 workers

In Japan, a worker can produce 4 cars or 9 tons of grain a year. Number of workers needed to produce one car:

4 cars : 1 worker

1 car : x workers

= 1 / 4 workers

Number of workers per ton of grain:

= 1 / 9 workers

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Q3. Given the demand and
Supply functions for product z: 800-20PZ and 100+10PZ
A. Determine the price
and
Quantity at which the marke
for Product z is in equilibrium
and show graphically

Answers

The equilibrium price that we have here is 23.3 while the equilibrium quantity is 333.3

How to solve for equilibrium price and quantity

In order to get the equilibrium price and the quantity we would have

800-20PZ = 100+10PZ

We would have to collect the like terms

800 - 100 = 10 pz + 20 pz

700 = 30 pz

To get the price of z we have to divide through by 30

700 / 30 = pz

23.3 = Pz

Next we have to find the equilibrium quantity

100 + 10PZ

100 + 10 x 23.3

100 + 233.3

= 333.3

Hence the equilibrium price that we have here is 23.3 while the equilibrium quantity is 333.3.

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What are two most important Characteristics of research objectives?

Answers

thank you so much for this opportunity

In which country and economic system are ALL the decisions about
production, consumption, business creation, exchange rates, and the
overall economy made by the government?

Answers

A socialism is an economic system in which all the decisions about production, consumption, business creation, exchange rates, and the overall economy are made by the government. An example of the country with socialism as the economic system includes North Korea, Soviet Union.

What is a socialism?

It refers to the political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

This system calls for a public ownership rather than a private ownership or control of property and natural resources.

Therefore, the socialism is an economic system in which all the decisions about production, consumption, business creation, exchange rates, and the overall economy are made by the government.