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3 years ago

5

What is the minimum price per unit that would produce a positive contribution margin? if required, round your answer to two deci

mal places?

1 answer:

nikdorinn [45]3 years ago

8 0

You need to provide figures for an answer to be calculated.

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Jordan has the following assets and liabilities:-Two Cars $10,000-House $200,000-Mortgage $100,000-Cash $1,000-Car Loans $3,000-

Ilia_Sergeevich [38]

Answer:

The correct option is B. $109,000; $213,000; $104,000

Explanation:

For computing the wealth, first, we have to compute the assets and liabilities value

So, the assets = Cars + House + cash + checking account balance

= $10,000 + $200,000 + $1,000 + $2,000

= $213,000

So, the liabilities = Mortgage + car loans + credit card balance

= $100,000 + $3,000 + $1,000

= $104,000

we apply the accounting equation which equals to

Assets = Liabilities + shareholder equity

And, the wealth equal to

= Assets - Liabilities

= $213,000 - $104,000

= $109,000

Hence, Jordan's wealth is $109,000, the value of Jordan's assets is $213,000, and the value of Jordan's liability is $104,000.

Therefore, the correct option is B. $109,000; $213,000; $104,000

3 0

3 years ago

11. Brooke Company desires net income of $720,000 when it has $2,000,000 of fixed costs and variable costs of 60% of sales. Cont

Mila [183]

Answer:

b. $2,720,000

Explanation:

The contribution margin is what is left after subtracting the variable cost from the sales.

From there, the company pays their fixed cost and the rest is net income.

In this case you have a company desiring to get 720,000 net income after paying their 2,000,000 fixed cost

So we come up with with formula:

$Contribution Margin - Fixed Cost = Net Income$

Replacing the know values, we get the unknow value. Like it was a solve for X question:

$X - 2,000,000 = 720,000\\X = 2,000,000 + 720,000\\X = 2,720,000$

8 0

3 years ago

Arnold, a single individual, has adjusted gross income of $65,000 in the current year. Arnold donates the following items to his

Olin [163]

Answer:

Option A. $15,400

Explanation:

The net deduction allowed as an charitable contributions are as under:

$

1. ABC Cop. stock

Cost $6000

FMV <u>$22000</u> $16000

2. Personal Clothing Items

Cost $1000

FMV <u>$400 </u> <u> ($600) </u>

Net Deduction $15,400

The amount that qualifies as charitable contribution for the year is $15400.

3 0

3 years ago

In 2020, HD had reported a deferred tax asset of $130 million with no valuation allowance. At December 31, 2021, the account bal

Ray Of Light [21]

Answer:

The income tax expense for 2021 income statement is $101 million as computed in the explanation section below.

Explanation:

The income tax expense in the year 2021 is the income taxes payable while adding the reduction in deferred tax asset or deducting the increase in deferred tax asset plus the portion of the current deferred tax asset not realizable using the applicable tax rate as found below:

Income tax payable $90 million

deduct;increase in deferred tax asset($170-$130) ($40 million)

Add;unrealized deferred tax asset($170*30%) $51 million

Income tax expense for 2021 income statement $101 million

6 0

3 years ago

Roberta transfers property with a tax basis of $400 and a fair market value of $500 to a corporation in exchange for stock with

trapecia [35]

Answer: the correct answer is A. $500

Explanation:

Amount realized is the amount received from the sale of an asset. The money received for Roberta is $500.

7 0

3 years ago