Answer:
Net income will remain same.
Explanation:
Net income is no change in net income because the sales is increase as the price of decreased. Net impact is zero.
For Example:
Price = 100
Variable cost = 50
Flights = 100
Net income = (100-50) x 100 = $5,000
Revised Calculation
Price = 100 x 90% = $90
Variable cost = 50
Flights = 100 x 125% = 125
Net income = (90-50) x 125 = $5,000
There is no change in the net income.
Answer:
$5,275
Explanation:
Bank Reconciliation Statement
Balance as per Cash Book $4,600
Add check error $105
Add unpresented checks $830
Less Lodgments not yet credited ($260)
Balance as per Bank Statement $5,275
therefore,
The adjusted Cash book balance is $5,275
On a linear demand curve, if the price is low and the quantity demanded is high, demand is Inelastic in that region and a price increase will cause an increase in total revenue
Revenue in accounting refers to the entire amount of money made through the sale of products and services that are essential to the company's core operations. [1] The term "commercial revenue" can also refer to sales or turnover. Some businesses make money from royalties, interest, or other fees. [2] The term "revenue" can mean income in general or the total amount of money earned over a certain time period, as in "Last year, Company X had revenue of $42 million." The general definition of profits or net income is total revenue less total expenses for a specific time period. Revenue is a component of the Equity section of the balance sheet in accounting, and revenue raises equity.
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