Answer:
No economic activity can happen without all three of them. However, different factors will be more or less important to different economic activities. For example, if one is engaged in subsistence farming, land is more important than the other factors. Labor and capital are important, but land is irreplaceable
Answer: 4,000 units
Explanation:
The breakeven point of sales can be calculated by the formula:
= Fixed costs / Contribution margin
Contribution margin = Sales price - Variable cost
= 7 - 5
= $2
Breakeven point in sales:
= 8,000 / 2
= 4,000 units
Answer:
The correct answer is $ 41,000.
Explanation:
This problem requires us to calculate the amount of cash dividend that will be reported in the financing section of the statement of cash flows. In statement of cash flow the dividend paid in cash during the period is reported. Dividend declaration in not relevant as far as statement of cash flow is concerned.
Cash dividend to reported is calculated as follow.
Dividend payable opening balance = 10,000
Divdend declared = 42,000
Dividend payable closing balance = (11,000)
Dividend paid = 41,000
Explanation:
People who start new businesses or bring new products to market are called an entrepreneur.
Answer:
The net income is $39,060
Explanation:
The computation of the net income is shown below:
As we know that
net income = Sales revenue - expenses
where,
Sales revenue is
= Camping fees revenues + general store revenues
= $139,400 + $30,600
= 170,000
And, the expenses is $130,940
So, the net income is
= $170,000 - $130,940
= $39,060
hence, the net income is $39,060