Entrepreneurship is a quality that is very attractive to colleges. Admissions committees like to see that you can think outside the box, be creative, and make opportunities for yourself. It’s a skill that’s particularly relevant right now: Many products and services you use came from startups or from companies that began that way.
Answer:
Net Income $66100
Explanation:
<u>Racine Furnishings Company </u>
<u>Multi Step Income Statement </u>
<u>For the Year Ended March 31, 2019</u>
Sales 6,126,850
Cost of Merchandise Sold 3,965,850
Gross Profit 2161000
Less Operating Expenses
Depreciation $747,950
Supplies Expense ( 87000- 20650) 66350
Salaries Expense 7,700
Selling Expenses 717,650
Administrative Expenses 545,700
Operating Income 75,650
Other Expenses
Interest Expense 9,550
Net Income $66100
From the sales cost of merchandise sold is subtracted to get the gross profit. The operating expenses are subtracted from the gross profit to get the operating income. Other expenses such as interest expense is subtracted to get the net income.
Answer:
it would be easier to form a cartel with few producers
Explanation:
since a cartel is a monopolistic type of org. few producer will earn and generate more profit
Answer:
=$5,230,000
Explanation:
Annual Depreciation=Depreciable Value×Units produced during the year estimated total production
The units of the depreciation method start by calculating the depreciable amount.
Depreciable amount = Assets cost - salvage value
=$21,220,000.-$4,000,000
=$17,220,000
depreciation expense per unit= depreciable amount/production capacity
=$17,220,000/210,000 per tone
=$82 per tone
During the year, 195,000 were extracted.
The depreciation value for the year will be
= 82 x 195,000
=$15,990,000
book value will be asset cost minus depreciation expense
=$21,220,000 -$15,990,000
=$5,230,000
.
Answer:
D. $520 favorable is the correct answer.
Explanation:
