FREE Trial

A business had revenues of $280,000 and operating expenses of $315,000. Did the business (a) Incur a net loss (b)

Question:

A business had revenues of $280,000 and operating expenses of $315,000. Did the business
(a) Incur a net loss
(b) Realize net income?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 83% (12 reviews)

a If the business had revenue of 280 000 and operating expenses …View the full answer


answer-question
Answered By
tutor-profile-image
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening. My Expert Service Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+ 65+ Reviews 86+ Question Solved
Related Book For  answer-question
Accounting

Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

See More Books
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: November 02, 2012 08:27:48
See More Questions

Students also viewed these Accounting questions

Q:
8. When you pay a bill using a debit card, the bank account_______ while the expense account A. decreases; increases B. increases; remains the same C. remains the same; decreases D. increases;...
A:
The detailed answer for the above question is provided below 8 bank account decreases while expenses......
Q:
A business had revenues of $750,000 and operating expenses of $670,000. Did the business (a) Incur a net loss (b) Realize net income?
A:
a There would be no net loss in this situation where the revenue of......
Q:
A business had revenues of $600,000 and operating expenses of $715,000. Did the business (a) Incur a net loss or (b) Realize net income?
A:
Net loss 600 000 715 000 Net los......
Q:
A 40,000-seat college football stadium is used 22 times for games, concerts, and graduation ceremonies. Each event averages four hours and assumes the stadium is full for each event. The stadium is...
A:
Utilization U Resources Used Resources Available Eq 7 1 Notice the focus is stadium......
Q:
Use Theorem 5.2.4 to show that v1 = (1, 6, 4), v2 = (2, 4, -1), v3 = (-1, 2, 5), and w1 = (1, -2, -5), w2 = (0, 8, 9) span the same sub space of R3. Theorem 5.2.4 If S = {v1, v2,..., vr} and S' =...
A:
If we solve the system v 1......
Q:
An 8-molar hydrochloric acid solution [SG = 1:12, C p = 2:76 J/(g C)] is produced by absorbing hydrogen chloride [HCl(g)] in water. Liquid water enters the absorber at 25C and gaseous HCl is fed at...
A:
To solve this problem we need to use the concept of material balances a The volume of HCl fed to the......
Q:
Digital analysis using Benfords Law can be performed on databases of any size. (True/False)
A:
True Benford s Law is a statistical phenomenon that describes the distribution of leading di......
Q:
Consider Figure 12S.1. Some people have argued that companies need to put in place information systems that address routine decision making and transactional requirements prior to tackling...
A:
An argument can be made for either view although most practi......
Q:
Write a main program that counts the number of occurrences of the number 6.0 in a large array of doubles and then prints out the number of elements in the array and the number of values that are 6.0....
A:
Here s an example of how you can achieve this in C c include include Lab8AdataSetx h......
Q:
Determine whether or not F is a conservative vector field. If it is, find a function f such that F = f. F(x, y) = ye x i + (e x + e y ) j
A:
a ye dy e a e e x and the domain of F is R2 which is ope......
Q:
a. Land with an assessed value of $300,000 for property tax purposes is acquired by a business for $500,000. Seven years later, the plot of land has an assessed value of $400,000 and the business...
A:
a No The offer of 600 000 and the increase i......
Q:
Indicate whether each of the following companies is primarily a service, merchandise, or manufacturing business. If you are unfamiliar with the company, you may use the Internet to locate the...
A:
1 Manufacturing 2 Service 3 Merchandise......
Q:
An experiment needs an almost monochromatic K + beam with momentum p = 2 GeV. We obtain it by building a magnetic spectrometer and a system of slits. However, the total length of the beam is limited...
A:
E m K 4 05......
Q:
Find the 3rd approximation of the root of the function f(x) = x - x + 2 using bisection method.
A:
Solution To find the 3rd approximation of the root of the function f x x 3 x 2 using the bisection m......
Q:
Your lab write-up should include your schematics, screenshots of your LTSPICE analysis, a discussion of your results, and a conclusion. Part A: Reflections on a Transmission Line Objective: To...
A:
Click to View...
Q:
Company X entered into a six-month short forward agreement on a stock at T=0. The stock price was TRY54 and it was expected to pay a dividend of TRY2 per share in two months and in five months. The...
A:
Click to View...
Q:
Cherie sets the amplitude of both waves to 0.4 m, and the mass per unit length of the rope to 10 g/m. She clicks "start." How can Desmond describe what he observes when the two pulses overlap...
A:
When the two pulses overlap completely Desmond will observe a phenomenon called destructive interfer......
Q:
A particle of mass m can slide freely along a light wire AB whose perpendicular distance to the origin O is h. The line OC rotates about the origin at a constant angular speed . The position of the...
A:
Click to View...
Q:
In Problems 7386, use a graphing utility to solve each equation. Express your answer rounded to two decimal places. e x = -x
A:
et x Using INTERSECT to......
Q:
As you rewrite these sentences, replace the cliches and buzzwords with plain language (if you don't recognize any of these terms, you can find definitions online): a. Being a jack-of-all-trades, Dave...
A:
Here are the sentences purged of clichs a Being adaptable Dave worked well in his new sellin......
Q:
Differentiate broadly between financial accounting and managerial accounting.
A:
Financial accounting measures classifies and summarizes......
Q:
Differentiate broadly between financial accounting and managerial accounting.
A:
Financial accounting measures classifies and summarizes......
Q:
Differentiate broadly between financial accounting and managerial accounting.
A:
Financial accounting measures classifies and summarizes......
Introduction To Health Physics 4th Edition - ISBN: 0071423087 - Free Book