Based on the information given SHEFFIELD INC. income statement is $133,630.
Income statementSHEFFIELD INC. income statement for the year ended December 31 2020
Revenues
Net sales $1,131,300
[(20%×$460,000)÷8%-$18,700[]
Expenses
Cost of goods sold $460,000
Selling expenses $368,000
[(5×$92,000)-$92,000]
Administrative expenses $92,000
(20%×$460,000)
Interest expense $20,400
Total expense $940,400
Income before income tax $190,900
( $1,131,300-$940,400)
Income tax expense $57,270
(30%×$190,900)
Net income/Loss $133,630
($190,900-$57,270)
Earning per share $7
( $133,630/$19,090)
Inconclusion SHEFFIELD INC. income statement is $133,630.
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No federal advertising guidelines regulate the marketing of unhealthy food to children. Some companies, like burger king, voluntarily commit to:.
Some companies such as Burger king voluntarily commit to using organic food for all their products.
What is organic food?This is a term that is used to refer to food that was grown through natural and healthy agricultural practices.
The foods that are made are usually without the use of any form of artificial or synthetic substances.
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Which one of the fixed asset accounts listed below will not have a related contra asset account?.
The fixed asset account that does not have a related contra asset account is Land.
What are fixed assets?Fixed assets are company assets, used for daily operations. These assets will have a useful life of more than one year and will be recorded as non-current assets on the balance sheet.
A contra account is an account used in a general ledger to reduce the value of a related account, hence land is not part of it.
Examples of fixed assets include:
LandBuildingEquipmentVehiclesHence, the fixed asset account that does not have a related contra asset account is Land.
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Select all that apply In a perpetual system, the entry to record a purchase of merchandise on account includes a ______.
HELPPPPPPPPPP
compare how medicare taxes are paid by individuals who are employees to those who are self employed.
a) employees do not pay the medicare tax and the employer pays for both halves of the tax (2.9%) self employed individuals pay for both halves of the tax (2.9%)
b) employees pay half (1.45%) of the medicare tax while the employer pays the other half. self employed individuals pay for both halves of the tax (2.9%)
c) employees pay half (1.45%) of the medicare tax while the employer pays the other half. self employed individuals pay half (1.45%) of the medicare
d) employees pay for both halves of the tax (2.9%) and the employer does not pay the medicare tax. self employed individuals do not pay medicare tax
Employees pay half (1.45%) of the medicare tax while the employer pays the other half.
What is Medicare tax?This is an insurance which is deducted from wages and salaries in order to cater for healthcare.
In cases where people are self-employed they pay both halves of the tax while in situations where they have an employer , it is split into two in which the employer and employee pay them.
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Answer:
employees pay half (1.45%) of the medicare tax while the employer pays the other half. Self-employed individuals pay for both halves of the tax (2.9%)
Explanation:
I Just Know
Who will most likely have the lowest credit score?
A. Ramon updates his credit report to include a name, Joachim, that he used before he moved.
B. Manuel gets a credit report from each credit bureau once a year.
C. Kimmy applies for credit cards three times a year.
D. Alexa contacts the credit bureau because there is an error on her
report
Kimmy has applied for the credit card three times assuming she has not been given prior to that that signifies that she has a low credit score. Thus, option C is correct
What is credit score?Credit score means that a person is assigned a score in numerical form that depends upon income, expense, credit and timely payments. Higher the number means good credit score and vice versa.
Credit score is deemed as low when a person comes under the range of 300-850. As Kimmy has applied for credit card three times, that means she falls under the low credit score range.
Kimmy does not have a credit card even after applying that means she has low credit score. Therefore, option C is the correct option.
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New communication technology can impact seemingly unrelated industries such as the airline industry. This would be an example of a
An example of a threat from substitute products is when new communication technology impacted unrelated industries such as the airline industry.
What are substitute products?A substitute products refers to similar product that can be replaced with use of former product by the consumers
In conclusion, the example of a threat from substitute products is when new communication technology impacted unrelated industries such as the airline industry
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Why is it important to be extremely careful when completing your 1040 form?.
Answer: mistakes on your 1040 form make you ineligible for employment during the next year
Explanation:
All of the following describe blockchain: Multiple select question. blockchain cannot verify and facilitate Bitcoin transactions blockchain makes it more difficult for the ledger to be modified blockchain is continuously and simultaneously updated and verified blockchain is a less secure type of accounting ledger
The blockchain can be very precisely described by the statement that blockchain is continuously and simultaneously updated and verified. Third option is correct.
A specific type of shared database called a "blockchain" differs from other databases in that it stores data in blocks that are linked together via encryption.
Although a ledger has historically been the most widely utilized use for transactions, a blockchain may be used to store a variety of different types of data.
They serve an essential role in maintaining a secure and decentralized record of transactions in bitcoin systems, but they are utilized in a variety of other systems as well.
Thus, third option is correct.
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Irene is filling out an application form for the position of an elementary school teacher. While she is filling it out, she comes across a section that asks for information about her high school, college, courses, and grades. Which of the following sections of the application form is being referred to here?
a) Mailing address
b) Racial details
c) Work experience
d) Declaration
e) Educational background
Tim would like to use his income tax return to pay off one of his four credit cards. His previous plan was to pay off all four credit cards in the same timeline of 36 months. He wants to eliminate the card that is charging him the most interest on a monthly basis. The chart below outlines Tim's four credit cards, their balances, and their APRs. Which credit card should Tim use his tax return to pay off?.
Answer:
That's the answer
Explanation:
Cus it's math
Answer:
d
Explanation:
Consumer surplus exists because of the
A. surplus of money that wealthy consumers hold.
B. surplus in marginal product that firms get when they hire an additional worker.
C. willingness of some consumers to pay a price higher than the market price for some units of a good.
D. additional utility that households obtain when the prices of substitutes fall.
E. increase in the availability of goods when income rises.
Answer:
it exists because of the increase in the availability of goods when income rises
When a person intentionally deceives another person or company for personal gain, this is referred to as . (Enter one word per blank)
Fraud can be defined as a form of intentional deception and cheating, such as when a person intentionally betrays another person or company for personal gain.
Importance of ethics for societyEthical behavior is essential for the development and maintenance of society, as it establishes fair and positive behaviors that protect the rights, values and duties of each citizen.
Ethics therefore must be applied at all levels and social spheres, to reduce fraud used for personal benefit and to strengthen values of justice, equality and peace among individuals.
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True or false? The holistic social media team model is common in growing companies. In this model, one team coordinates the approach to managing each social media account in partnership with other groups within the organization.
The holistic social media team model is common in growing companies based on the above is a False statement.
What is holistic model social media?The holistic social media strategy is known to be a form of closed loop.
One can promote their content through the use of social media platforms. People visit to one's website is due to one's content. A person can make it easy for all people to get their content but one can also get their information for any type of messages based on your content.
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Making sure that the activities of employees match the organization's goals is called _____. Multiple choice question. human resource management recruiting training and development performance management
Answer:
performance management
Explanation:
hope it helps
Place emergency flares or triangles ... to ...feet behind the car when it is stalled on the roadside.
Answer:
about 10 feet
Explanation:
I am guessing you are asking how many feet to put it behind your car correct if I am wrong
Enron kept company debt and insider trading hidden through complex organizational partnerships and processes. A cultural change that might have exposed the fraud as it was occurring is:
A cultural change that might have exposed the fraud that Enron participated in as it was occurring is: d) the establishment of a whistle-blowing hotline.
What is Whistle-blowing?Whistle-blowing is a term that is given to the act of making people aware of fraudulent practices. The whistle-blows open up the fraud that was meant to be concealed to the authorities.
So, if a person exposes the fraud that Enron engaged in, then he has engaged in whistle-blowing.
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When an economy is operating inside its production possibilities frontier we know that :_________
a. the economy is operating with efficiency.
b. to produced more of one good, the economy would have to give up some of the other good.
c. moving to a point on its production possibilities frontier would be economic growth.
d. there are unused resources or inefficiencies in the economy.
When an economy is operating inside its production possibilities frontier we know that there are unused resources or inefficiencies in the economy.
What is the production possibilities frontier ?The production possibilities frontier show the various combination of two goods that can be produced by an economy when its resources are fully utilized.
The production possibilities frontier is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good.
Point outside the curve means that the production level is not attainable given the level of resources. Points inside the production possibilities curve means that the nations resources are not being fully utilised
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The vast bulk of Marx's theoretical efforts consisted of a painstaking analysis of capitalism as a a. world economic system. b. tool of emancipation. c. mode of production. d. theory of hegemony.
The majority of Marx's theoretical efforts consisted of a painstaking analysis of capitalism as a world economic system.
What is capitalism?A capitalism is an economic system whereby the citizen, manufacturer and producers independently runs the affairs of an economy production with no regulation from government.
Hence, the majority of Marx's theoretical efforts consisted of a painstaking analysis of capitalism as a world economic system
Therefore, the Option A is correct.
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THINK
1. Some elements of the business plan require outside source
information. If your business manufactures cardboard boxes
what specific sources might you need to consult?
The sources one might need to consult are;
Existing Cardboard boxes producersCardboard paper manufacturersMajor wholesalers and retailersFeasibility studies in Business planningThe feasibility study provides and analyzes several alternatives or methods of achieving business success.
Additionally, the feasibility study helps to narrow the scope of the project to identify the best business conditions.
On this note, some outside sources of information might need to be consulted regarding some Elements of a business plan.
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The four administrative principles account for our rapidly changing work environments by modifying the earlier developed four functions of management. Group of answer choices True False
The four administrative principles account for our rapidly changing work
environments by modifying the earlier developed four functions of
management is True.
What is Management?This includes how a company or institution is run and it comprises of four
facets which include:
Planning, OrganizingLeadingControllingThe principles which determines how an organization is controlled is
influenced by changing work environments.
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What process group does the project integration management knowledge area map to through the activities of developing project charters
The process in the project integration management knowledge illustrated is initiating.
What is project integration?It should be noted that project integration simply means the coordination of all the elements that are in a project.
The process group that the project integration management knowledge area map to through the activities of developing project charters is the initiating group.
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How can you increase your attractiveness as a customer—i.e., become a customer of choice? a. Call the supplier to ask questions b. Tell the supplier what you can do for him c. Offer a transactional relationship d. Ensure that you are a source of learning e. None of the above
You can make yourself a customer of choice when you d. Ensure that you are a source of learning.
Why would this make you a customer of choice?Suppliers are always looking to improve so that they can offer a better product and gain more market share.
If you therefore give them feedback on the goods and services purchased, they will learn from it and improve services.
In conclusion, option D is correct.
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If a company's stock price (P0) goes up, and nothing else changes, Ke (the required rate of return) should
Answer:
It should go down..........
Which savings account will earn you the least money?
One that earns simple interest daily.
One that earns simple interest monthly.
One that compounds interest daily.
One that compounds interest monthly.
The savings account that would earn the least amount of money is the account that earns a simple interest monthly.
What does simple interest and compound interest mean?
Simple interest rate is the interest that is paid only on the principal portion of a loan. This means that the debtor does not pays interest on the interest rate already accrued. This differs from compound interest where the debt holder pays interest on the principal and the interest rate already accrued.
This means that an account that earns a compound interest would have a higher yield when compared with an account that earns a simple interest.
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For an economy as a whole, income must equal expenditure because a. the number of firms is equal to the number of households in an economy. b. individuals can only spend what they earn each period. c. every dollar of spending by some buyer is a dollar of income for some seller. d. every dollar of saving by some consumer is a dollar of spending by some other consumer.
Every dollar of spending by some buyer is a dollar of income for some
seller is why income must equal expenditure.
What is Economy?This is defined as all the activities related to production, consumption, and
trade of goods and services in an area.
Income is equal to an expenditure in an economy as a result of every
dollar spent by the buyer being equal to the dollar received by the seller
which makes option C the most appropriate option.
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Orlando, the owner of a belgian event-planning company called memory makers, plans to open a marketing company that focuses on product launches, called kick start, in germany. Kick start will be totally owned and controlled by memory makers, which makes kick start a ________ of memory makers.
Kick start will be totally owned and controlled by memory makers, which makes kick start a subsidiary of memory makers.
What is a Subsidiary?This refers to the branch of a company which performs a different function from the parent company but has the same vision and mission which is to increase profit and sales.
With this in mind, we can see that because Orlando who owns an event planning company opens a marketing company so as to focus on product launches, this shows that they are a subsidiary.
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Suppose the government in your city imposes a $0.50 excise tax on gasoline. The burden of this tax falls on: a) sellers of gasoline b) buyers of gasoline c) the city government d) both buyers and sellers
The burden of this tax falls on both buyers and sellers.
What is the burden of tax?Burden of tax refers to who pays for the tax imposed by the government. The people who bear the burden of tax is both the buyer and seller of the good.
The party with the more elastic demand bears more burden of tax. Whole the party with the less elastic demand bears less burden of tax.
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Kira, the general manager of a travel agency, believes that her workers are responsible and capable, and that they can be trusted when given responsibility. Kira is an example of a ________ manager.
Kira is a theory Y manager if she believes that her workers are capable and can be trusted to meet up with responsibilities.
Who is a Theory Y manager?This is a term that is used to refer to managers or people that have an optimistic approach to life and people.
The people like Kira are trusting and love to use a participatory style of management.
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If you were to make $9. 00 per hour and worked 36 hours over the past two weeks, what would your gross income be on your paycheck?.
My gross income on the pay check is $324.
What is the gross income?Gross income is the total income earned by a worker before any deductions are made. These deductions include tax and pension deductions. Gross income is usually greater than net income.
In order to determine the gross income, multiply the pay per hour by the total hours worked.
Gross income = pay per hour x total hours worked
$9 x 36 = $324
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International organizations prefer to rely on Blank______ for measuring the value produced in an economy.
Answer:
I thinks it's gross national income
Explanation:
I am guessing