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3 years ago

If a car company sold a vehicle for $50000 and was produced by 10000 what is the profit?

Business

1 answer:

expeople1 [14]3 years ago

6 0

Answer:

$ 40,000

Explanation:

profits are obatined by substracting toatl expenses from total revenues.

i.e profits= Total revenue - total costs

in this case: cost of production = $ 10,000.00

selling price = $ 50,000.00

profits= $50,000-$ 10,000= $ 40,000

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Barnes Books allows for possible bad debts. On May 7, Barnes writes off a customer account of $5,300. On September 9, the custom

Andreyy89

Answer:

The cash collection on September 9 is records by the entry:

Debit Cash $5,300

Credit Accounts Receivable $5,300

Explanation:

Barnes Books allows for possible bad debts. On May 7, the company writes off a customer account. The journal entry:

Debit Allowance for Doubtful Accounts $5,300

Credit Accounts Receivable $5,300

On September 9, the customer unexpectedly pays the $5,300 balance. The journal entries:

1. Debit Accounts Receivable $5,300

Credit Allowance for Doubtful Accounts $5,300

2. Debit Cash $5,300

Credit Accounts Receivable $5,300

3 0

3 years ago

Stratford Company purchased a machine with an estimated useful life of seven years. The machine will generate cash inflows of $9

Amiraneli [1.4K]

Answer:

The price o the machine is = $268,157.69

Explanation:

The Net present value is the difference between the present value (PV) cash inflows and the initial cost of the investment.

PV of cash inflow =

90,000× (1- (1.1)^(-7) )/0.1

= 438,157.69

NPV = PV of cash inflow - cost of the machine

Let represent cost of the machine as " y "

170,000 = 438,157.69 - y

y = 438,157.69- 170,000

y = 268,157.69

The price o the machine is = $268,157.69

4 0

2 years ago

Ogilvie Corp. issued 23,000 shares of no-par stock for $10 per share. Ogilvie was authorized to issue 46,000 shares. What effect

SSSSS [86.1K]

Answer:

Oglivie Corp.'s assets (cash account) will increase be $230,000 and its equity (common stock account) will also increase by $230,000.

Every time a company issues stock and sells them, both its assets and equity have to increase in order to keep a balance in the balance sheet. Since Oglivie's stock are no-par, all of the money received should be included in the common stock account.

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3 years ago

Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, a

maw [93]

Answer:

Income statement for year 1

Service revenue $180,000

Operating expenses:

Employees salaries $85,000
Utilities $32,500
Insurance expense $19,500 $137,000

Net income $43,000

Income statement for year 2

Service revenue $230,000

Operating expenses:

Employees salaries $95,000
Utilities $30,000
Insurance expense $19,500 $144,500

Net income $85,500

Year 1 accounts receivable balance = $180,000 - $155,000 = $25,000

Year 2 accounts receivable balance = $230,000 - $185,000 + $25,000 = $70,000

Cash flows from operating activities year 1:

Net income $43,000

Adjustments to net income:

Increase in accounts payable $5,000

Increase in accounts receivable ($25,000)

Increase in prepaid insurance ($39,000)

Net cash provided by operating activities ($16,000)

Cash flows from operating activities year 1:

Net income $85,500

Adjustments to net income:

Decrease in prepaid insurance $19,500

Increase in accounts receivable ($45,000)

Decrease in accounts payable ($5,000)

Net cash provided by operating activities $55,000

4 0

3 years ago

Why is it important to carefully document an interview?

I am Lyosha [343]

D) all of the above because you should be doing all of these during an interview

5 0

2 years ago

Read 2 more answers