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MrRa [10]
1 year ago
15

Vaughn Manufacturing began the year with retained earnings of $114000. During 2022, the company issued $84500 of common stock fo

r cash. The company recorded revenues of $735000, expenses of $647000, and paid dividends of $36000. What was Vaughn's net income for the year 2022?
$136500

$172500

$88000

$52000
Business
1 answer:
aalyn [17]1 year ago
3 0

Vaughn's net income for the year 2022 is: c. $88,000.

<h3>Net income</h3>

Using this formula

Net income=Revenues - expenses

Where:

Revenues=$735,000

Expenses=$647,000

Let plug in the formula

Net income=$735,000-$647,000

Net income=$88,000

Therefore the correct option is c.

Learn more about net income here:brainly.com/question/15235984

#SPJ1

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Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August
mamaluj [8]

Answer:

Cost of merchandise = $235150

Explanation:

Below is the calculations:

Cost of merchandise = Opening inventory - ending inventory + purchases - purchase return - purchase discount + freight

Now plug the value in the above formula:

Cost of merchandise = 96610 - 100530 + 254660 - 13340 - 6320 +4070

Cost of merchandise = $235150

5 0
2 years ago
Infinity Clock Company prepared the following static budget for the​ year: Static Budget ​Units/Volume 5 comma 000 Per Unit Sale
aalyn [17]

Answer:

a) Operating income - $33,800

Explanation:

<em>The flexible budget would be prepared for  a different activity level of 6,300 production units but using the assumptions of the fixed budget</em>

                                                                               $

Sales revenue - ($7× 6,300 units  )   :             44,100.00

Less Variable cost -      ($1 ×  6,300 units ) :      <u>( 6,300)</u>

Contribution                                                       37,800

Less Fixed costs                                                <u>(4,000)</u>

                                                                             <u>33,800</u>

<em>Note that the fixed costs of $4000 remains the same for both the static and flexible budgets. This is because the activity level of 6,300 units of the flexible budget remains within relevant range. So the fixed cost would not change.</em>

4 0
3 years ago
Critically analyze the difference and points of convergence between floor inspection and functional inspection
r-ruslan [8.4K]

Answer:

Please refer to the below;

Explanation:

Difference between Floor inspection and Functional inspection.

• Floor inspection is usually conducted in a production environment. It involves checking of materials while processing in the machine by inspectors. Rather than checking the materials in the machine at the beginning of production, floor inspection checks the materials while in process inorder to ensure that the defected ones are quickly detected and expunged. It also ensure that the equipments used in processing are properly functioning.

• Functional inspection is an inspection that checks the overall function of a product rather than what makes up the component parts. For instance the load capacity and speed of a vehicle can be checked for optimal performance whereas individual parts that make up the vehicle are not checked, yet bring out satisfactory performance when combined together. This form of inspection is concerned with verification of final output and does not provide details about different sections instead provides a wider understanding of comfort that emanate from inspecting same item.

Points of Convergence between Floor inspection and Functional inspection.

• The key objective of both floor and functional inspection is quality output having reviewed and examined their expectations.

• Both floor and functional inspection work to prevent defective product from flowing down the successive operations and avoid loss to the company

• Both floor and functional inspection aim at meeting customers requirements, wants and needs.

4 0
3 years ago
A buyer is closing on the purchase of a residence. The taxes for the year are estimated to be $4,780. The closing date is Januar
Aneli [31]

Answer:

For seller = $196.44

For buyer = $4583.56

Explanation:

Data provided in the question:

Taxes for the year = $4,780

Date of closing = January 16

since the day of closing belongs to the buyer therefore the seller owns the tax for 15 days only

Per day tax = [ Taxes for the year ] ÷ 365

= $4,780 ÷ 365

= $13.095 per day

Hence,

Proration will be

for seller = $13.095 per day × 15 days

= $196.44

For buyer = $4,780 - $196.44

= $4583.56

6 0
3 years ago
According to the table, if the interest rate on this account were 10 percent, how much money would you have in the account at th
Sergio [31]
You would have $10.50 just double the rate

3 0
2 years ago
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