Answer:
Ernst Consulting
Balance Sheet
For the Month Ended October 31, 202x
Assets:
Cash $12,650
Accounts receivable $12,800
Office supplies $2,850
Office equipment $17,530
Land $45,940
Total assets $91,770
Liabilities and stockholders' equity:
Accounts payable $8,110
Common Stock $83,540
Retained earnings $120
Total liabilities and stockholders' equity $91,770
Explanation:
I ordered the accounts and included a couple that were missing:
- Cash 12,650
- Accounts receivable 12,800
- Consulting revenue 12,800
- office supplies 2,850
- Land 45,940
- office equipment 17,530
- Accounts payable 8,110
- Cash dividends 1,570
- Common Stock 83,540
- Rent expense 3,110
- Salaries expense 6,490
- Telephone expense 850
- Miscellaneous expenses 660
First we need to determine net profit for the month:
Consulting revenue 12,800
Salaries expense -6,490
Rent expense -3,110
Telephone expense -850
Miscellaneous expenses -660
net profit = $1,690
retained earnings = net profit - dividends distributed = $1,690 - $1,570 = $120
The market most likely to be characterized by oligopolistic competition in the united states is smartphone service providers.
<h3>
What is an oligopolistic competition ?</h3>
An oligopoly is when there are few large firms operating in an industry. This is because there are high barriers to the entry and exit of firms into the industry. The smartphone service provider industry is dominated by five industries due to the high cost and regulations in the industry.
Here are the options to the question:
a) soybeans
b) pens and pencils
c) smartphone service providers
d) men's clothing
e) electrical service to the home
To learn more about oligopolies, please check: brainly.com/question/26130879
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Answer:
master’s degree and GISP certification
communication skills, including reading, writing, listening, and speaking
analytical and critical-thinking skills
computer skills
Answer:
$93,750
Explanation:
Required: "<em>Calculate the overhead assigned to the fabric case using the traditional costing system based on direct labor hours."</em>
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Total estimated overhead costs (A) = 150,000
Total labor hours (B) = 15,000 + 9,000 = 24,000
Overhead allocation rate (C) = A/B = 150,000/24,000
Overhead allocation rate (C) = $6.25 Per labor hour
Total labor hours used by Fabric case (D) = 15,000 Hours
Overhead assigned to the fabric case (C*D) = $6.25 Per labor hour * 15,000 Hours = $93,750
Savings accounts is the most liquid
