Answer:
D. $ 600,000
Explanation:
if X's withdrawals = y
Net Income = 2y
X 's share of profit = 2y ×60%
= 1.2 y
X's Closing capital + X's withdrawals = Opening Capital + Share of Net income
$ 140000 + y = $ 80000 + 1.2y
1.2y - y = $ 140000 - $ 80000
= $60000
0.20y = $ 60000
y = $ 300000
Therefore,
Net Income = 2y
= 2×300000
= $ 600000
Answer and Explanation:
The tax consequences for the following events -
a. The organization should record the amount of $10,000 in the year 2018 as they followed the cash basis and the cheque should be equal to the cash also troy could not able to record the bonus till it is actually collected
b. As per the accrual basis, the income should be recorded when they are earned not when they are received so the corporation should record the income in the year 2018 as the agent performed the service
c. Since the restrictions that are imposed on cheque for payment purpose should be treated as the substantial and the cheque should not be equivalent to the cash because the customer told that check should be held till Jan 2019 so the income should not be recorded in 2018
Answer:
The The number of sweatshirts the company would need to sell to earn a target profit of $1,710 is closest to <u>570</u> sweatshirts.
Explanation:
This can be calculated as follows:
Selling price per unit = $15
Total cost price per unit = Average unit cost + Sales commission per unit = $7 + $5 = $12
Profit per unit = Selling price per unit - Total cost price per unit = $15 - $12 = $3
Target profit = $1,710
Number of sweatshirts to sell to earn a target profit = Target profit / Profit per unit = $1,710 / 3 = 570
Answer:
False
Explanation:
"Cash-to-cash Analysis and Management" by<em> Hutchinson, Farris and Anders</em> talks about the availability of the<em> financial data</em> and <em>computer technology</em> in assisting a business when it comes to determining its <u>cash-to-cash position </u><em><u>(C2C)</u></em><em>,</em> as well as the <em>benchmarks</em> needed for comparison.
Cash-to-cash analysis was difficult in the past, however, it is easier nowadays. The supply chain is even examined at a broader view than before. C2C efficiency is possible by utilizing the<em> readily available</em> financial date and computer technology. So, this makes the statement above as "false."
So, this explains the answer.
Answer: Production Method
Explanation: Gross domestic product, also known as GDP, calculates the total value of products and sevices that are produced in an economy. This in turn measures the total income of a country.
The method that applies in this scenario is the production method. This method focuses on goods, by looking at its final value after deducting the input costs, also known as intermediate goods. Input costs (or intermediate goods) are the cost of materials that were used to make the final product, i.e. the production costs. Once the input costs are deducted from the total value of the goods , what remains becomes the actual income of the goods, the final cost, which is then added to GDP.
