Answer and Explanation:
The preparation of the income statement is presented below:
<u>Particulars Amount </u>
Revenue $160,000
Less:
Rental Costs $30,000
Variable Costs $50,000
Depreciation $10,000
Profit before tax $70,000
Tax at 35% -$24,500
Net Income $45,500
Hence, the net income is $45,500
Divide variable costs by output. Therefore, it would be 750000 divided 1200, giving you $625.
Answer:
- The journal to record the write-off is:
Debit Allowance for doubtful accounts $6,400
Credit Accounts receivable $6,400
- Cash realizable value of the accounts receivable (1) before the write-off is $670,300 (2) after the write-off is $670,300.
Explanation:
- The write-off would impact the allowance for doubtful accounts and the accounts receivable since Bramble Corp. uses the allowance method. See the journals as recorded above.
- The balance in the allowance for doubtful accounts would have reduced by $6,400 upon the write-off, so did the balance in the accounts receivable, so the effect of the write-off evens out. That led to the cash realizable value of $670,300.
The minimum amount that Alyssa must <em>earn per month</em> to cover her budget is $4,062.50.
Data and Calculations:
Monthly expenditures = $3,250
Taxes and other deductions = 20% of monthly income
Monthly expenditures in percentage = 80% (1 - 20%)
Minimum income per month = $4,062.50 ($3,250/80%)
Thus, the minimum amount that Alyssa must <em>earn per month</em> to cover her budget is $4,062.50.
Learn more: brainly.com/question/25571450
Answer: sponsorship
Explanation:
Sponsorship simply refers to a situation whereby a company or an organization puts money into a particular event so that the products or brand of the said company can be promoted.
Based on the scenario in the question, this type of arrangement is very similar to what your text describes as sponsorship. Since the company pays for its brand to be displayed, it is sponsorship.
