Technology World had the following revenue and expenses during the month ended July 31. Did the firm
Question:
Technology World had the following revenue and expenses during the month ended July 31. Did the firm earn a net income or incur a net loss for the period? What was the amount?
Transcribed Image Text:
Fees for computer repairs Advertising expense Salaries expense Telephone expense Fees for printer repairs Utilities expense $93,600 16,200 41,000 2,160 13,460 3,420
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
To determine whether Technology World earned a net income or incurr...View the full answer
Answered By
Dulal Roy
As a tutor, I have gained extensive hands-on experience working with students one-on-one and in small group settings. I have developed the ability to effectively assess my students' strengths and weaknesses, and to customize my teaching approach to meet their individual needs.
I am proficient at breaking down complex concepts into simpler, more digestible pieces, and at using a variety of teaching methods (such as visual aids, examples, and interactive exercises) to engage my students and help them understand and retain the material.
I have also gained a lot of experience in providing feedback and guidance to my students, helping them to develop their problem-solving skills and to become more independent learners. Overall, my hands-on experience as a tutor has given me a deep understanding of how to effectively support and encourage students in their learning journey.
0.00
0 Reviews
10+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Business questions
-
The Computer Store had the following revenue and expenses during the month ended July 31. Did the firm earn a net income or incur a net loss for the period? What was the amount? Fees for computer...
-
Computer Maintenance and Repair Shop had the following revenue and expenses during the month ended July 31. Did the firm earn a net income or incur a net loss for the period? What was the amount?...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
You are given the equation(s) used to solve a problem. For each of these, you are to a. Write a realistic problem for which this is the correct equation(s). b. Finish the solution of the problem.
-
Early in the current year, Alex gifted shares of a public corporation to his 16-year-old son. Alex had paid $1,000 for the shares. They were worth $15,000 at the time of the gift. After receiving the...
-
Several reporting situations follow: 1. Thairs Company recognizes revenue during the production cycle. The price of the product and how many items will be sold are not certain. 2. In preparing its...
-
How can developing countries benefit from being sustainable?
-
On September 1, Howe Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred....
-
Based on the following information How many shares of stock are outstanding at December 31, 2022? I am looking for validation as my answer was -952 (Common stock 1,760 - 2,712 Treasury stock) Income...
-
A precision speed control system (Figure P7.12) is required for a platform used in gyroscope and inertial system testing where a variety of closely controlled speeds is necessary. A direct-drive DC...
-
What information is contained in the income statement? a. Revenues and expenses for a period of time b. Assets, liabilities, and owners equity for a period of time c. Revenue and expenses on a...
-
Oriental Rugs has no liabilities. The assets and owners equity balances are as follows. What is the balance of Supplies? Cash $150,000 Office Equipment $ 50,000 Supplies ???? Johnny Johnson, Capital...
-
Show that z is a basis for the A 1 representation and that R Z is a basis for the A 2 representation of the C 3v group.
-
Provide three or four examples of collectibles. For each, tell whether you agree with the rule that "collectibles are a form of speculation and should be avoided." Explain your answer. Under what...
-
What are the two primary methods of executing trades? What are the service and cost differences?
-
As a savvy student of personal finance, you've just learned that a company in your hometown made so much money last year that they are going to distribute a huge cash distribution this quarter. In...
-
What two documents alert and inform the public about a pending security issue? What information is contained in each?
-
What is a securities market? Does a market have to take the form of an actual building? Give an example to support your response.
-
An automobile engine uses gasoline at a rate of 1 ft3/hr. Gasoline has a density of 45 lbm/ft3 and a heating value of 21 000 Btu/lbm. If the engine has a thermodynamic efficiency of a) 30%, b) 25%,...
-
1. True or False. Pitfalls to consider in a statistical test include nonrandom samples, small sample size, and lack of causal links. 2. Because 25 percent of the students in my morning statistics...
-
On January 2, Santa Ana Legal Clinic issued Check 2108 for $350 to establish a petty cash fund. Indi cate how this transaction would be recorded in a general journal. Use 1 as the journal page number.
-
On January 31, Vanessa's Floral Supplies Inc. issued Check 3159 to replenish its petty cash fund. An analysis of payments from the fund showed these totals: Supplies, $48; Delivery Expense, $89; and...
-
Chan Corporation received a bank statement showing a balance of $14,700 as of October 31, 2016. The firm's records showed a book balance of $14,262 on October 31. The difference between the two...
-
Employee longevity A large insurance company has developed a model to identify the factors associated with employee turnover. The dependent variable is number of years an employee stays with the...
-
5. Consider the 'top-hat' function which is zero everywhere except between -1 and 1 where it takes value 1. Show, using only elementary integration, that the convolution of this function with itself...
-
HERE IS THE SITUATION. With attendance plummeting by 50 percent in the past decade, a new, younger executive director was hired to reverse the trend. By understanding the importance of integrating...
Study smarter with the SolutionInn App