The following items and amounts were taken from Familia inc's 2025 income statement and balance sheet, the end of its 1st year of operations.
Prepare an income statement for Familia Inc. for Dec. 31 2025 using the following:
Interest expense $2200
interest payable $700
notes payable $11800
sales revenue $44300
cash $2900
salaries and wage expenses $15600
equipment, net $54700
depreciation expense $3200
supplies $4100
common stock $26800
supplies expense $900
Answers
Income Statement for Familia Inc.
For the Year Ended December 31, 2025
Sales Revenue $44,300
Interest Income -
Total Revenue $44,300
Expenses:
Salaries and Wage Expenses $15,600
Depreciation Expense $3,200
Supplies Expense $900
Interest Expense $2,200
Total Expenses $22,900
Net Income before Tax $21,400
Income Tax Expense -
Net Income $21,400
The income statement summarizes the revenue, expenses, and resulting net income of a company for a specific period. In this case, for Familia Inc. at the end of its first year of operations in 2025, the income statement shows sales revenue of $44,300. The expenses incurred include salaries and wage expenses of $15,600, depreciation expense of $3,200, supplies expense of $900, and interest expense of $2,200. The total expenses amount to $22,900.
After deducting the total expenses from the revenue, the net income before tax is calculated as $21,400. As there is no information provided regarding income tax expense, it is assumed to be zero. Therefore, the net income is also $21,400.
Please note that the interest payable, notes payable, cash, equipment, net, and common stock mentioned in the question are not directly relevant to the income statement. They are typically reported on the balance sheet, which provides a snapshot of the company's financial position at a specific point in time.
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Related Questions
Click this link to view O*NET’s Skills section for Secondary School Special Education Teachers. Note that common skills are listed toward the top, and less common skills are listed toward the bottom. According to O*NET, what are common skills needed by Secondary School Special Education Teachers? Check all that apply. instructing installation learning strategies repairing active listening technology design
Answers
Answer:
instructing
learning strategies
active listening
Explanation:
Answer:
Explanation:
instructing
learning strategies
active listening
round 312,5 up to rand
Answers
Answer:
313 rand
Explanation:
To round up any number, ynetraing decimal. Value is accessed if the value is less than or equal 4 , we round the value to 0 ; however, if the value is greater Than or equal to 5 ; we round up to 1 and add to the preceeding digit or value.
In this case ; 312. 5 will be rounded to 313 ;
Since th trailing digit is 5 ; we round up to 1 and add to the preceeding value ; 2 + 1 = 3
Hence, 313 rand
A five-year security was purchased two years ago by an investor who plans to resell it. The security will be sold by the investor in the so-called Group of answer choices surplus market. secondary market. primary market. deficit market.
Answers
Answer:
Secondary market.
Explanation:
In this scenario, a five-year security was purchased two years ago by an investor who plans to resell it.
Hence, the security will be sold by the investor in the so-called secondary market.
When one investor sells his or her stock directly to another, the transaction is said to occur in the secondary market.
Secondary market can be defined as a market where various investors sell and buy securities from other investors.
Some examples of secondary market around the world are New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE) and National Stock Exchange (NSE).
On the other hand, the primary market refers to the market where these securities that are being sold are issued or created.
In this activity we will discuss consumer preferences.
Read
McDonald's unveils its own meatless patty — the "McPlant"
Watch
Meatless meat a sizzling hot market (1:16)
Explore & Post
Check out the data at https://plantbasedfoods.org/marketplace/consumer-insights/ and answer these questions:
Where do you fall in the spectrum of consumer shopping preferences for food and what generally drives your purchasing decisions?
How have your preferences changed over time? Explain your preferences.
Answers
In this activity, we discuss consumer preferences in the context of McDonald's unveiling its meatless patty called "McPlant" and the growing market for meatless meat. Consumer shopping preferences for food and purchasing decisions can be driven by various factors such as taste, health, environmental impact, and personal beliefs.
How does market research help in purchasing decisions?
1. Reflect on your current food preferences: Consider the types of food you typically buy and consume. Are you inclined towards plant-based, animal-based, or a mix of both products?
2. Identify the factors influencing your decisions: Determine what factors drive your purchasing decisions, such as taste, nutrition, price, convenience, or ethical considerations.
3. Assess changes over time: Think about how your preferences have evolved throughout your life. Have you shifted towards or away from certain food types or choices due to changes in your lifestyle, health, or beliefs?
4. Explain your preferences: Analyze the reasons behind your preferences and the changes you've experienced over time.
By following these steps, you can gain a better understanding of your consumer shopping preferences for food and the factors that drive your purchasing decisions. Additionally, you can reflect on how your preferences have changed over time and the reasons behind those changes.
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I don´t get it plzz help me
Answers
4. If your checking account's balance is
$3,678.89 and you withdraw $1,514, what
is the remaining balance?
A $2,164.89
B $5,192.89
C$2,614.89
D $3,678.89
(Step by step ) please
Answers
Basically just subtract, 3,678.89-1514 = 2,164.89
Because the amount paid is linked to certain predefined behaviors or outcomes, ______ is specifically designed to energize, direct, or maintain employees' behavior.
Answers
Answer:
Umomgey
Explanation:
Based on the amound paid by the FKSA, you will be able to govern an employees relations and beahviors.
Incentive pay is specifically designed to energize, direct, or maintain employees' behavior.
What is Incentive pay ?Performance-based compensation known as incentive pay pays an employee for achieving predetermined goals or objectives. This payment may be made in the form of cash, stocks, extra paid time off, gifts, etc.
Instead of paying for the amount of hours worked, incentive pay is a monetary reward for achievement. The theory is that the possibility of cash reward will encourage the employee to meet specific performance goals or financial targets.
The basic goal of incentives is to tightly link employee rewards to their accomplishments. By offering greater remuneration for superior performance, this tie is achieved. Individuals will typically work harder because their performance depends on producing more and getting more rewards.
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The act that prohibits hacking, the use of cookies, creating viruses, or using click-stream data to obtain personal
information about individual computers that surf the Web:
Answers
Answer:
ECPA
Explanation:
The Electronic Communications Privacy Act prohibits all of those things specifically, according to the Business Law Edge lesson.
kansas company acquired a building valued at $156,000 for property tax purposes in exchange for 12,000 shares of its $4 par common stock. the stock is widely traded and selling for $16 per share. at what amount should the building be recorded by kansas company?
Answers
Kansas company acquired a building valued at $156,000 for property tax purposes in exchange for 12,000 shares of its $4 par common stock. the stock is widely traded and selling for $16 per share. Kansas Company should record the building at $192,000.
This is because the building was valued at $156,000 for property tax purposes and they exchanged 12,000 shares of its $4 par common stock, which is widely traded and selling for $16 per share. This means that 12,000 shares x $16 = $192,000, which is the amount at which the building should be recorded.
Therefore, the fair market value of the building is $192,000 because 12,000 shares of stock have a fair market value of $192,000 at $16 per share.
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Which type of networking doesn't require a password to access
Answers
A Wi-Fi network connection with Wi-fi protected setup (WPS) for a home or a small environment doesn't require a password to access the networking system.
What is a password?Password is a code that helps in securing the data maintained on a computer or laptop. it also helps in securing the data from any unauthorized access.
WPS is a kind of network security that enables a protected wireless network for a home or a small surrounding. It allows a faster network connection between a router and any portable wireless device.
Therefore, the Wi-Fi network with WPS security requires no password to access the network.
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Financial panic begins & leads to an economic depression.a. trueb. false
Answers
an economic downturn can be affected by a variety of factors, including governmental policies and economic depression.Nevertheless, not every financial panic results in an economic slump.
A persistent sense of melancholy, despair, and loss of interest or pleasure in routine tasks define depression as a mental health condition. Physical manifestations including exhaustion, sleeplessness, and appetite disturbances are also possible. Typically, counselling, medicine, or a combination of the two are used to treat depression. If you are exhibiting signs of depression, it's crucial to get professional assistance. Although it can be challenging to conquer, many people with depression are able to manage their symptoms and enhance their quality of life with the correct therapy and support.financial panic results in an
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How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
Question 192 pts According to the video clips by Dr. Porter, what are the two essential questions a firm needs to answer? Group of answer choices how attractive is the industry ? How many of the five forces affect the firm in this industry? how attractive is the economy? what is the firm's position in this industry? what are the firm's recent profit trends?
Answers
By answering these two essential questions, a firm can gain valuable insights into its competitive environment, make strategic decisions, and develop a sustainable competitive advantage. According to the video clips by Dr. Porter, the two essential questions a firm needs to answer are:
1. How attractive is the industry? This question focuses on assessing the potential profitability and competitiveness of the industry in which the firm operates. Factors such as market growth, customer demand, competitive rivalry, and barriers to entry need to be considered. By analyzing the industry's attractiveness, a firm can identify opportunities for growth and understand the challenges it may face.
2. What is the firm's position in this industry? This question revolves around evaluating the firm's competitive advantage within the industry. It involves understanding the firm's strengths, weaknesses, and unique capabilities that differentiate it from competitors. Factors such as market share, brand reputation, product differentiation, and cost structure need to be assessed to determine the firm's position and its ability to create value for customers.
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a jackson pollock painting can cost $1.2 million, whereas a poster reproduction of the same painting costs only about $15. the reason is that:
Answers
The reason a Jackson Pollock painting can cost $1.2 million while a poster reproduction of the same painting costs only about $15 is due to factors such as scarcity, uniqueness, authenticity, and market demand.
Jackson Pollock was a renowned artist known for his unique abstract expressionist style. His original paintings are considered valuable and sought after by collectors and art enthusiasts. The limited supply of original Pollock paintings and their historical significance contribute to their high price.
On the other hand, poster reproductions are mass-produced and widely available, leading to their low cost. They do not possess the same level of uniqueness, authenticity, or investment value as the original artwork.
The price disparity between the original painting and the poster reproduction reflects the distinction between a one-of-a-kind piece of art and a mass-produced replica.
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The Outpost, a sole proprietorship currently sells short leather jackets for $369 each. The firm is considering selling long coats also. The long coats would sell for $719 each and the company expects to sell 820 a year. If the company decides to carry the long coat, management feels that the annual sales of the short jacket will decline from 1,120 to 1,040 units. Variable costs on the jacket are $228 and $435 on the long coat. The fixed costs for this project are $23,100, depreciation is $10,400 a year, and the tax rate is 34 percent. What is the projected operating cash flow for this project
Answers
Answer:
$134,546
Explanation:
Calculation to determine the projected operating cash flow for this project
Projected operating cash flow=
{[820 × ($719 − 435)] + [(1,040 − 1,120) × ($369 − 228)] − $23,100} × {1 − .34} + {$10,400 × .34}
Projected operating cash flow={[820 × $284)] + [$80 × $141] − $23,100} × {.66} + {$3,436}
Projected operating cash flow= $134,546
Therefore the projected operating cash flow for this project is $134,546
Compute for the effective interest rate and the amount that Mr David will have in 15 years if P5,000 is deposited in the account at the end of each quarter during that time that it earns 8% interest, compounded quarterly.
Answers
Given: Amount deposited at the end of each quarter = P5,000Quarterly interest rate = 8%Time period = 15 years So, in 1 year, there are 4 quarters. So, the total number of quarters in 15 years = 15 × 4 = 60Now, the formula for finding the future value of the annuity is: FV = C * [(1 + i)n - 1]/i Where, C = amount deposited at the end of each quarter i = quarterly interest rate / 100n = total number of quarters For quarterly interest rate of 8%, we have the quarterly interest rate, i = 8/4 = 2%Substituting the values in the formula, we get:
FV = 5,000 * [(1 + 0.02)60 - 1]/0.02= 5,000 * [3.317 - 1]/0.02= P165,850.62Therefore, the amount that Mr. David will have in 15 years is P165,850.62. Effective interest rate: To find the effective interest rate, we can use the following formula: Effective rate of interest = (1 + i/n)n - 1Where,i = quarterly interest rate / 100n = number of times interest is compounded in a year Effective rate of interest = (1 + 0.02/4)4 - 1= 0.0202 or 2.02%Therefore, the effective interest rate is 2.02%.
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How can a diverse economy like the United States, satisfy the needs of its consumers?
Answers
Answer:
Supply and Demand
Explanation:
A 65-year old individual has just retired after working for the same employer for 20 years. He will collect an annual pension benefit of $50,000, but is not yet ready to stop working. He has lined up a part-time job that will pay $3,000 this coming year. How much can he contribute to a Traditional Individual Retirement Account for his first year in retirement
Answers
Answer:
$3,000
Explanation:
Based on the information given we were told that he has a PART-TIME JOB THAT WILL PAY him the amount of $3,000 this coming year which means that the amount he can contribute to a TRADITIONAL INDIVIDUAL RETIREMENT ACCOUNT for his first year in retirement will be the EARNED INCOME of the amount of $3,000 which will therefore be his maximum INDIVIDUAL RETIREMENT ACCOUNT (IRA) contribution for this year.
NGPF Activity Bank Paying for College
5.4 COMPARING the types of student loans
PLEASE HELP ME WITH THIS I HAVE TO TURN IN TODAY I NEED A ANSWER ASAP
Answers
There are generally two types of student loans: federal student loans and private student loans. The federal student loan is given below.
How much can a student get a student loan?Education loans are intended to pay for living expenses while the borrower is pursuing a degree, as well as tuition, books, and supplies.
As there is no cap on the largest debt that may be approved under the student loan program. The maximum amount for NRI students is Rs. 20 lakhs, and for elite institutions, Rs. 30 lakhs.
Federal student loans: These loans are provided by the government and provide a number of advantages, including reduced interest rates, repayment schedules based on income, and loan forgiveness opportunities. Federal student loans come in a variety of forms, including Direct Subsidized Loans: Undergraduate students who can prove they have a need for the money can apply for these loans. When the student is enrolled in school, the government covers the interest on these loans. Direct Unsubsidized Loans: These loans can be obtained by graduate and undergraduate students alike and don't need proof of need. While the student is enrolled in school, interest is accruing on these loans. Graduate students and parents of dependent undergraduate students may apply for Direct PLUS loans. They have higher interest rates and demand a credit check than other loan plans.Learn more about loans, here:
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Click this link to view the OOH educational information for Roofers. According to the OOH, what are some educational, training, certification, or licensing options required or helpful for Roofers? Check all that apply. bachelor’s degrees on-the-job training apprenticeships high-school biology, chemistry, and physics classes high-school math, shop, mechanical drawing, and blueprint-reading classes an associate degree specializing in writing
Answers
Answer:
2,3,5
Explanation:
I had the same thing and got it right (one wrong)
Answer:
2 3 5
Explanation:
Sabrina, a member ,has been employed by Luca & Smith, CPA's for the past 10 years. During that time, Sabrina has worked on many of the firm's most complicated clients and projects. Sabrina is a member of the local Chamber of Commerce and the AICPA. Sabrina has decided to leave Luca & Smith, CPA's to start her own CPA practice. While the firm was sorry to hear about Sabrina's plans to leave ,there is no animosity between the parties. As part of the formation of her new firm, Sabrina is considering various forms of advertising, marketing ,and solicitation. Which of the following forms of advertising, marketing, and solicitation is acceptable in all cases?
0 Soliciting clients of her former firm by calling them three times a day for a month and guaranteeing that she will a better job.
0 Placing a yellow pages ad that states that Sabrina is a tax expert' if she, in fact, can demonstrate that she has expertise in the area as a result of education, training, or experience.
0 Using a marketing brochure that states: 'no other sole practitioner in the state has the tax knowledge that Sabrina has'.
0 Both a. and c. are acceptable.
Answers
According to the CPA professional code of conduct, it is to be noted that in the above scenario, the best form of advertising and marketing that Sabrina can use is "Placing a yellow pages ad that states that Sabrina is a tax expert' if she, in fact, can demonstrate that she has expertise in the area as a result of education, training, or experience." (Option B)
What does the CPA Code say about Advertising?A CPA may not engage in misleading and fraudulent advertising activities under the Advertising and Other Forms of Solicitation Rule of the AICPAs Code of Professional Conduct.
The CPA business should carefully consider the advantages of presenting its message to potential clients through advertising. Advertising is not sloppy; it is an excellent business.
The updated Code creates a conceptual framework for all professional accountants to assure compliance with the five key principles of ethics:
Integrity, Accountability, Transparency, and Accountability.Objectivity.Due Care and Professional CompetenceConfidentiality.Professionalism in Action.Learn more about CPA Code:
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give an example of tourism for market penetration
Answers
Answer:
restaurants
Explanation:
like when you have a vegetarian people that only eats vegies that means that the only thing that is going to sell out is the vegies not that meat
Explain the criticisms of labor unions today. 25 POINTSS
Answers
One major criticism of labor unions today is that they have become too large and are out of touch with workers’ needs. In the past, union leadership has shown a pattern of corruption and many people worry that this trend continues today. Some people argue that union activity has hurt the US economy; higher union wages have meant higher prices for consumer goods and the introduction of improved technology has been slow as unions fear it will result in fewer employees.
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Checking a credit report is a good way to
know whether credit is improving.
reduce the amount of money owed.
determine which debts to pay off.
decrease interest payments.
Answers
Checking a credit report is a good way to know whether credit is improving.
What is a credit report?A credit report refers to a statement that has information about your credit activity and current credit situation such as loan paying history and the other status of your credit accounts.
A credit report contains personal information, credit account history, credit inquiries and public records. This information is reported by your lenders and creditors to the credit bureaus. Your credit report can be used in a variety of situations, from getting a credit card to buying a house or even applying for a job.
Why is checking a credit report important?Checking your credit history is a good way to know whether credit is improving. It also helps you in understanding your current credit position.
Thus, regularly checking your credit reports can help you be more aware of what lenders may see and it can also help you detect any inaccurate or incomplete information.
Hence, option A is correct.
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Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.
Answers
($14)(25)=$350
($25)(11)=$275
$350+$275= $625
a method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances
Answers
The policy's reaction establishes a cap-and-trade emissions standard that lowers outflows, In a cap-and-trade system.
It is a market tool wherein a government sets a "limit" or cut-off on the total amount of ozone-harming compounds that may be released. Producers of ozone-depleting substances would be required to pay for each considerable amount of carbon dioxide or carbon dioxide equivalent1 that they emit under such a strategy. For instance, those from power plants, by establishing a market and setting a limit on contamination. Limiting outflows and charging for them is the best environmental solution, both ecologically and financially. Cap-and-trade is a technique for achieving both. The policy's reaction establishes a cap-and-trade emissions standard that lowers outflows, The public authority establishes an outflows cap and distributes a number of emanation stipends in accordance with that cap under a cap-and-exchange structure.
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3
Select the correct answer.
Which is true when you rent?
O A.
B.
C.
You build equity in your house.
You are responsible for any repairs.
You pay fewer up-front costs.
Answers
Answer:
A
Explanation: A because when you do repairs you give the goverment money
The tutoring service, Prep2Learn, organizes based on its customer divisions. Which of these divisions would you expect for the Prep2Learn? Multiple Choice O urban, suburban, out-of-state, international. O online, in-person, hybrid. O teaching, marketing, instructional design. IT O elementary, high school, college, adult learners
Answers
The following would be Prep2Learn's most likely consumer segments based on the information provided: Online, in-person, hybrid.
Which of the subsequent claims regarding a change model is true, according to?Escalation processes go outside the purview of a change model, which is assertion three. A change model outlines every action that must be completed to manage a significant circumstance. The example shows us how to maintain our composure and embrace the change occurring all around us.
Which of the aforementioned statements regarding the change model is true?When a major change is necessary, a change model should be built. That is untrue. Regardless of the importance of the change, a change model should be created. The right response is: A change model outlines the procedures to follow when dealing with a certain kind of change.
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Question Number 3) Toyota sources parts from suppliers globally, ships them to manufacturing plants all over the world for vehicle assembly, and sells the finished new automobiles to end consumers through an international network of franchised and company-owned dealerships. The process by which the company manages upstream and downstream value-added flows of materials, final goods, and related information is known as __________
Answers
The process by which the company manages upstream and downstream value-added flows of materials and related information is known as supply chain management.
What is supply chain management?Supply chain management can be defined as the movement of products or goods and service from one location to another location.
Supply chain management is important as it makes it easy for companies to moves their raw materials as well to distribute their finished goods to end users or final consumer.
Inconclusion the process by which the company manages upstream and downstream value-added flows of materials is known as supply chain management.
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Economics (FoolProof)
I should do my best to get a credit card from a company that will tell me both my interest rate and my credit limit before I commit to taking the card.
True or False
Answers
Answer:True
Explanation: