Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
Before preparing the income statement, we need to calculate the net income or net loss for the given period.
So,
The net income = Revenue - the cost of sales - Selling and administrative costs - other expenses
= $149,558 - $124,041 - $14,999 - $3,145
= $7,373
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
Answer:
Increase in income= $20,000
Explanation:
Giving the following information:
Marigold Corp. manufactures a product with a unit variable cost of $100 and a unit sales price of $181. Fixed manufacturing costs were $480000 when 10000 units were produced and sold. The company has a one-time opportunity to sell an additional 1000 units at $120 each in a foreign market which would not affect its present sales.
We will not have into account the fixed costs, because there is unused capacity.
Increase in income= contribution margin * units sold
Increase in income= (120 - 100) * 1000= $20,000
Answer:
Our answer is 2430798.798
Explanation:
. 70% of pre-retirement salary should be equal to the interest that we get from savings(5% of savings).
Therefore, 0.7 × 173628.4856 = 0.05×savings
==> savings = 2430798.798
Answer:
$1,774.2
Explanation:
Compute the accumulated amount in the account on the date of last deposit'
Formula used to find out the future value ordinary annuity is:
Future value factor of ordinary annuity 
1- oily Future value of ordinary annuity 
Where:
R = annual return (ordinary annuity)
= future value of an ordinary annuity of I for n periods at i interest
Substituting the values:
Future value of ordinary annuity
= 
=
