Answer:
Surry Co.
Income Statement for the year ended December 31, 2016
Sales $915000
Less Cost of Merchandise Sold $670000
Gross Profit $245000
<u>LESS OPERATING INCOME</u>
<u><em>Selling Expenses</em></u>
Customer Refunds and allowances $ 55000
Selling expenses $ 120000 $175000
<u><em>Administrative Expenses</em></u>
Administrative expenses $ 30000 $30000
Total Operating expenses $205000
Operating Income $ 40000
<u>NON-OPERATING INCOME</u>
Interest Expense ($12000)
Rent Revenue $19000
Total Non-operating Income $ 7000
Net Income $47000
Explanation:
A multiple-step Income Statement separate Operating Revenues and Operating Expenses from Non-Operating Revenues and Non-Operating Expense.
The grace period, during which a policy remain in force even though the premium has not been paid depends on the state. But generally, a grace period of 7 days is usually allowed for weekly premium payments, ten days for monthly payment and thirty one days for other policies.
Answer: $2,900
Explanation:
The cost of this amount of output is:
= (Amount of K used * Rental rate of capital) + (Amount of labor used * wage rate)
= (10 * 150) + (14 * 100)
= 1,500 + 1,400
= $2,900
Answer:
Bounded rationality.
Explanation:
This is explained to be a model that is been used in making choices between alternatives. Models of this kind brings about use of logic, analysis and objectivity always which appear over subjectivity and insight. In this particular model, approaches like Formulating of goal, decision making, identification of criteria for decision making, performing analysis etc are seen to make this model a better type of its kind. Here individuals who are seen to posses high cognitive ability are seen handling of decisions and making quality arrangements towards its actualization.
In a lot of cases, it is seen to not consider factors that cannot be quantified, such as ethical concerns or the value of altruism.
Answer:
its c
Explanation:
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