How to beg your professor for a passing grade?

Vincent operates a scenic tour business in Boston. He has one bus which can fit 50 people per tour and each tour lasts 2 hours.

mixas84 [53]

Answer:

There is some information missing, and when I looked for it I found similar questions but the demand was already given and the question was about Vincent's total daily income.

Passenger Price Daily demand

Adults $18 70

Children $10 25

Senior citizens $12 55

total 150

total revenue per day = ($18 x 70) + ($10 x 25) + ($12 x 55) = $1,260 + $250 + $660 = $2,170

total operating costs per day = (150 / 50) x $450 = $1,350

operating income per day = $2,170 - $1,350 = $820

6 0

3 years ago

On august 31 of the current year, harvey co. decided to change from the fifo periodic inventory system to the weighted-average

Vsevolod [243]

The answer is "<span>As of January 1, Year 1".

The cumulative impact of an adjustment in accounting rule squares with the difference between retained income toward the start of time of the change and what retained profit would have been if the change was applied to all influenced earlier periods, accepting comparative financial statements are not exhibited. Starting retained profit of the earliest year exhibited is balanced for the cumulative impact of the change.
</span>

4 0

3 years ago

Sag manufacturing is planning to sell 400,000 hammers for $6 per unit. The contribution margin ratio is 20%

Tasya [4]

The question is incomplete. The following is the complete question.

Sag Manufacturing is planning to sell 400,000 hammers for $6 per unit. The contribution margin ratio is 20%. If Sweet will break even at this level of sales, what are the fixed costs?

Answer:

Fixed costs are $480000

Explanation:

The break even sales is the value of total sales or total revenue where it equals total cost and the company makes no profit or no loss. The break even in sales is calculated by dividing the fixed costs by the contribution margin ratio.

Break even in sales = Fixed cost / Contribution margin ratio

Plugging in the available values we can calculate the value of fixed cost. We know that the break even in units is at 400000 units. Thus, its value in sale will be 400000 * 6 = 2400000

2400000 = Fixed cost / 0.2

2400000 * 0.2 = Fixed cost

Fixed costs = $480000

6 0

3 years ago

On December 2, Coley Corp. acquired 1,600 shares of its $3 par value common stock for $21 each. On December 20. Coley Corp. reis

shusha [124]

Answer:

(A) Credit Additional Paid in Capital $9,600

Explanation:

As provided earlier, shares of own company were acquired, at a premium, which creates a treasury account with the amount of purchase back of shares.

This is because of the amount paid towards purchase that is for the amount received on purchase.

Further when shares are resold the paid in capital account is credited,

Additional capital to be credited = $11 - $3 = $8 per share

$8 $\times$ 1,200 shares = $9,600

With this amount the balance of additional capital will increase, and thus this account will be credited.

If there is any reversal to treasury stock it will be treasury stock account debit, thus option b) and option d) are completely invalid.

Further cash received = $11 $\times$ 1,200 = $13,200 and not $25,200

Therefore option c) is also invalid.

Therefore, Correct option is

(A) Credit Additional Paid in Capital $9,600

4 0

3 years ago

jim promised to pay his son $200 semiannually for 6 years. jim can invest his money at 8% in an ordinary annuity. how much must

sleet_krkn [62]

I’m I’m in sixth grade I haven’t learned how to do this yet I’m srry if this was not a good answer

3 0

3 years ago

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