A statement of an automobile dealer follows: Freeway Volvo, Inc. Statement of Profit and Loss December 31,
Question:
Freeway Volvo, Inc. Statement of Profit and Loss December 31, 20X0
List and describe any shortcomings of this statement.
DealerA dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
Transcribed Image Text:
Revenues Sales Increase in market value of land and building Deduct expenses $1,050,000 200,000 $1,250,000 Advertising Sales commissions Utilities Wages Dividends Cost of cars purchased 100,000 50,000 20,000 170,000 100,000 700,000 1,140,000 110,000 Net profit
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (9 reviews)
1 The name of the statement is antiquated It should be titled income statement or statement of e...View the full answer
Answered By
Mustafa olang
Please accept my enthusiastic application to solutionInn. I would love the opportunity to be a hardworking, passionate member of your tutoring program. As soon as I read the description of the program, I knew I was a well-qualified candidate for the position.
I have extensive tutoring experience in a variety of fields. I have tutored in English as well as Calculus. I have helped students learn to analyze literature, write essays, understand historical events, and graph parabolas. Your program requires that tutors be able to assist students in multiple subjects, and my experience would allow me to do just that.
You also state in your job posting that you require tutors that can work with students of all ages. As a summer camp counselor, I have experience working with preschool and kindergarten-age students. I have also tutored middle school students in reading, as well as college and high school students. Through these tutoring and counseling positions, I have learned how to best teach each age group. For example, I created songs to teach my three-year-old campers the camp rules, but I gave my college student daily quizzes to help her prepare for exams.
I am passionate about helping students improve in all academic subjects. I still remember my excitement when my calculus student received her first “A” on a quiz! I am confident that my passion and experience are the qualities you are looking for at solutionInn. Thank you so much for your time and consideration.
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
Question Posted:
Students also viewed these Accounting questions
-
Alomar Company manufactures four products from a joint production process: barlon, selene, plicene, and corsol. The joint costs for one batch are as follows: Direct materials Direct labor $66,000...
-
An automobile dealer calculates the proportion of new cars sold that have been returned a various numbers of times for the correction of defects during the warranty period. The results are shown in...
-
An automobile dealer conducted a test to determine if the time in minutes needed to complete a minor engine tune-up depends on whether a computerized engine analyzer or an electronic analyzer is...
-
1) Determine the pH of a 4.3*10^-4 M NaOH solution. 2) why would we say that a solution with a H+ concentration of 1.00*10^-7 M is said to be neutral if it contains acid, shouldn't be acidic?
-
John Maynard Keynes challenged all four of the beliefs on which the classical position of the economy was based and concluded that the economy could get stuck in a recessionary gap. 1. Explain why...
-
A________ creator or effect cannot be objectively observed, so hypotheses including these effects are not testable by the scientific method.
-
What is organizational development, and which of the five types of change does it relate to? How do organizational development techniques support organizational change?
-
Swoosh Athletics manufactures sporting goods that are then sold to retailers. It is a very competitive industry, where quality and price are important to gain space on retailers' shelves. Swoosh's...
-
Why are corporate and store locations such important factors to consider for organizations?
-
A company produces two products, A1 and A2 that are sold to retailers. The budgeted sales volumes for the next quarter are as follows:Product .....................UnitsA1...
-
The Piedmont Company had the following transactions during June 20X1: a. Collections of accounts receivable, $75,000. b. Payment of accounts payable, $45,000. c. Acquisition of inventory, $18,000, on...
-
FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. In the year ended May 31, 2011, FedEx had revenues of...
-
Why is there no simple relationship between diversity and business performance?
-
Discuss some of the examples of poor quality in IT projects presented in the "What Went Wrong?" section. Could most of these problems have been avoided? Why do you think there are so many examples of...
-
Review two different articles about critical chain scheduling. Write a short paper describing how this technique can help improve project schedule management.
-
Read an article or watch a video about a recipient of PMI's Project of the Year award. Search online for information from PMI's website. Write a one-page paper summarizing a winning project, focusing...
-
You are short a put option on Oracle stock with an exercise price of $20 that expires today. Plot the value of this option as a function of the stock price. SOLUTION PLAN Again, the strike price is...
-
Search the Internet and scan IT industry magazines or websites to find an example of an IT project that had problems due to organizational issues. Write a short paper summarizing the key stakeholders...
-
Based on the following information of the financial ratios prepare Balance Sheet of Star Enterprises Ltd as of December 31, 2015. Explain your workings and assumptions: Current Ratio 2.5 Liquidity...
-
(a) Water flows through the nozzle of a garden hose. Find an expression for m in terms of line pressure P 1 , ambient pressure P 2 , inside hose diameter D 1 , and nozzle outlet diameter D 2 . Assume...
-
Smith Corporation purchases merchandize on account from a supplier on June 30, 2016 for $4,000 plus GST (5%). On July 5, merchandize is sold for $5,000 plus GST to Customer A on account. Assume that...
-
Paul's Roofing Corporation paid monthly corporate income tax instalments of $500 commencing February 15, 2016. The company's income before income taxes for the year ended December 31, 2016 was...
-
On November 1, 2016 Branch Corporation converted a $10,000 account payable owing to Tree Corp. to a note payable bearing interest at 10% per year due on January 31, 2017. Required: 1. Record the...
-
Journal Prompt for Unit 7 Hide Assignment Information Instructions As part of your journal entry for this unit, choose either Dance and Disability or Dance on Film and discuss why you think that...
-
3. (3.5 pts) A thin annular disk lies in the xy plane, is centered on the origin, and has inner radius a and outer radius 2a as shown in the figure to the right. The disk has a charge density (s) 2...
-
memo to the audit partner on the appropriateness of the allowance for doubtful accounts using the information you have gathered above. The partner may wish to discuss the allowance with PPI's...
Study smarter with the SolutionInn App