« previous next »

Author Question: During the year, The Mane Event, Inc. had sales of 300,000 and had expenses of 240,000. The owners ... (Read 88 times)

jparksx

  • Hero Member
  • *****
  • Posts: 570
on: Jul 5, 2018
During the year, The Mane Event, Inc. had sales of 300,000 and had expenses of 240,000. The owners were paid 20,000 in dividends. Net income for the year equals ________.
 
  A) 90,000
  B) 60,000
  C) 50,000
  D) 40,000

Question 2

Which of the following accounts will not be found in the Cost of Merchandise Sold section of the income statement for a company using the periodic inventory method?
 a. Purchases
  b. Freight In
  c. Selling Expense
  d. Merchandise Inventory


Carliemb17

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
During confrontations with others, the mane makes the lion look larger. During confrontations with others, the mane makes the lion look larger.
Chinese workers on a railway in the far West. “Without them,” Leland Stanford, president of the Cent Chinese workers on a railway in the far West. “Without them,” Leland Stanford, president of the Cent
U.S. Life Expectancy by Year of Birth U.S. Life Expectancy by Year of Birth
Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for ... Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for ...
Kindergarten school year book Kindergarten school year book
Video: Methods that regulate pH

For a complete list of videos, visit our video library