At the end of Year Seven, Ace Company has the following account balances: accounts receivable - $70,000, advertising expense - $20,000, cash - $50,000, contributed capital - $150,000, cost of goods sold - $100,000, dividend distributions - $10,000, inventory - $90,000, machinery (net) - $410,000, notes payable (due in Year Ten) - $140,000, rent expense - $10,000, retained earnings, 1/1/7 - $200,000, salary expense - $90,000, salary payable - $60,000, and sales revenue - $300,000. What is net income

Which of the following is an example of formal management controls? answers: a firm's culturethe willingness of employees to monitor each otherbudgeting and reporting activitiesmanagerial motivation

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.

On july 7, you purchased 500 shares of wagoneer, inc. stock for $21 a share. on august 1, you sold 200 shares of this stock for $28 a share. you sold an additional 100 shares on august 17 at a price of $25 a share. the company declared a $0.95 per share dividend on august 4 to holders of record as of wednesday, august 15. this dividend is payable on september 1. how much dividend income will you receive on september 1 as a result of your ownership of wagoneer stock