Answer:
Painter Corporation
Income Statement
For the month ended January, 202x
Total revenues $299,000
<u>Total expenses ($192,000)</u>
EBIT $107,000
<u>Income taxes ($33,200)</u>
Net income $73,800
Painter Corporation
Balance Sheet
For the month ended January, 202x
Assets:
Cash $66,950
Accounts receivables $33,200
Merchandise inventory $95,700
Total assets $195,850
Liabilities:
Accounts payable $27,350
Stockholders' equity
Common stock $94,700
Retained earnings $73,800
Total stockholders' equity $168,500
Liabilities + stockholders' equity $195,850
Answer:
$750
Explanation:
If I pick $1,000, and the Marginal Propensity to Consume (MPC) is 0.75, it means that while travelling the state, I will have spent $750 on goods and services either produced and traded in that state, or only traded in that state (while having been produced in other place). This is the total impact that I will have made on the economy of this state.
The remaining $250 that I will have saved will only impact the economy of the state if I deposit or invest the money in a financial institution located in the state. If instead, I invest those saving in some other state, or put the money under the mattress in my house (located in another state), my savings will not impact the economy of the state in any way whatsoever.
Answer:
That statement is true
Explanation:
In order to conduct a total cost analysis, a company need to calculate every single relevant cost that occurs within an operation or project from start to finish. From this, the company usually can find out about hidden costs that might occurs outside the initial plan.
The decision makers can use this options to make their decision in the future. If the total hidden cost is larger than ideal, they can either implement a new budgeting plan or implement policies that minimize the hidden cost.
Answer:
$7,200
Explanation:
Expense can be defined as the cost incurred by an organisation as it tries to generate revenue in its daily activities.
It is the cost of doing business, and is the sum total of cost incurred for all activities geared at making profit.
So in this instance Clark was visiting work sites for the company, he leased a car for $4,500 and spent $2,700 on fuel. The sum total is $7,200 and this is the amount he will deduct as business expense.
