Both Aaria and Justin work with businesses. Aaria tries to sell them packages that will cover their employees in case of injury

Question Completion:

Financial data:

Unearned revenue 3,600

Notes payable 2,800

Accounts payable 4,800

Advertising expense 2,800

Rent expense 4,000

Salaries expense 6,000

Utility expense 2,400

Consulting revenue 34,000

Rental revenue 7,000

Accounts receivable 10,000

Cash 12,000

Equipment 10,200

Notes receivable 5,000

Prepaid insurance 2,000

Supplies 3,000

Common Stock 9,200

Dividends 4,000

Prepare an Income Statement, Statement of Retained Earnings, and Balance Sheet as of December 31.

Answer:

Accel Consulting Firm (managed by Maria Gomez)

a. Income Statement for the month ending December 31:

Consulting revenue            $34,000

Rental revenue                        7,000

Total Revenue                     $41,000

Subtract expenses:

Advertising expense 2,800

Rent expense            4,000

Salaries expense      6,000

Utility expense          2,400   15,200

Net Income                        $25,800

b. Statement of Retained Earnings for December 31:

Net Income                             $25,800

Dividends                                    4,000

Retained earnings, Dec. 31    $21,800

c. Balance Sheet as of December 31:

Assets:

Cash                                  $12,000

Accounts receivable           10,000

Notes receivable                  5,000

Prepaid insurance                2,000

Supplies                                3,000

Equipment                           10,200

Total Assets                     $42,200

Liabilities:

Unearned revenue           $3,600

Notes payable                     2,800

Accounts payable               4,800

Total Liabilities                 $11,200

Common Stock                  9,200

Retained earnings            21,800

Total liabilities + Equity $42,200

Explanation:

The income statement of Accel provides a brief overview of temporary accounts that are not transferred to the next accounting period. These accounts are utilized to measure the financial performance of the consulting firm, including revenues and the associated expenses.

The retained earnings statement of Accel illustrates the difference between the accumulated net income over the years for a longstanding business and the distributed dividends from this income to shareholders. For Maria Gomez's consulting enterprise, this statement indicates the remaining funds after dividend payments for December.

Finally, Accel's balance sheet is necessary to present the firm's financial standing. It displays what the company possesses as assets, what it owes in liabilities for unpaid services, and the equity held by the owner, Maria.

Answer: Selling Price = $9803.92

Explanation:

Details:

A Treasury bill has a return of 2% every 6 months.

Time duration = 6 months

Return rate = 2% per 6 months

Selling Price of the Treasury bill =

Selling Price =

The expected selling price for a 6-month Treasury bill is $9803.92.

Answer:

The solution and relevant data for the exercise are contained within three images. The maximum profit amounts to 262.500.

Explanation

Please take into account the details provided in the exercise. Should you have any queries, feel free to reach out again. All the exercises are illustrated within three images.

Answer:

Japan     $760

The United States     $1,600

France          $6,320

Explanation:

Total personal revenue is calculated as disposable income minus personal taxes. Earnings from employment, after deducting actual taxes, reveal the net established income.

The household saving rate is defined as total savings divided by disposable income.

Household saving = Disposable income * Household saving rate

Japan:

$40,000*1.9% = $760

United States:

$40,000*4% = $1,600

France:

$40,000*15.8% = $6,320