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Studentka2010 [4]
3 years ago
12

Consider an economy that produces only two goods: fresh apricots and dried apricots. In this economy, the technology of producin

g dried apricots is to place fresh apricots on special racks and allow them to dry in the sun. Fannie's Farms is the only company that grows fresh apricots, while Darryl's Dried Victuals is the only producer of dried apricots. Fannie's sells some of its apricots directly to consumers for consumption. The relevant revenue and cost information for each of the two firms in the economy is given below: Darryl's Dried Victuals Revenue from selling dried apricots: Cost of buying fresh apricots from Fannie's: Interest on funds borrowed to buy drying racks: Wages paid to employees Taxes $2,750,000 1,800,000 200,000 550,000 90,000 Fannie's Farms Revenue from selling fresh apricots: Rent on land (including apricot trees) Wages to employees Taxes $2,350,000 400,000 1,100,000 180,000 Darryl's profit from selling dried apricots is:_________.A) $5,390,000 B) $110,000 C) None of these are correct D) $150,000 E) $670,000
Business
1 answer:
satela [25.4K]3 years ago
4 0

Answer:

$110,000

Explanation:

Profit = Total revenue - Total cost

Total revenue =  $2,750,000 

Total cost = cost of purchase + interest + wages + taxes 

= $1,800,000+$200,000+ 550,000 + 90,000 = $2,640,000

Profit =  $2,750,000 - $2,640,000 = $110,000

I hope my answer helps you

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Anyone know the answer to this?
Ipatiy [6.2K]

Answer:

rework hope this helps :)

Explanation:

5 0
3 years ago
Five thousand bonds with a face value of $1000 each, are sold at 110. The entry to record the issuance is
Contact [7]

Answer:

Date, bonds sold at a premium

Dr Cash 5,500,000

    Cr Bonds payable 5,000,000

    Cr Premium on bonds payable 500,000

Explanation:

The total face value of the bonds is $1,000 x 5,000 bonds = $5,000,000

since the bonds were sold at 110, their price was $5,000,000 x 110% = $5,500,000

the difference between the face value and the actual market price = $5,500,000 - $5,000,000 = $500,000 must be recorded as premium on bonds payable (increases the bonds' carrying value)

4 0
3 years ago
When filing your tax return, what is the maximum amount you can deduct for a capital loss?.
AnnZ [28]

When filing your tax return, the maximum amount you can deduct for a capital loss is $3,000(for individuals and married filing jointly) or $1,500 (for married filing separately).

<h3>What is a tax return?</h3>

A tax return is such or more forms submitted to a taxing body that include earnings, outlays, and other crucial tax data.

Tax returns give taxpayers the option to determine their tax liability, plan out their tax payments, or ask for refunds for any taxes they have paid in excess of what is required.

Some characteristics is of tax returns are-

  • For just an individual or corporation having reportable income, such as wages, interests, dividends, capital appreciation, or other earnings, tax returns must typically be filed annually.
  • The tax return is just a document submitted to a taxing authority that lists earnings, outlays, and other pertinent financial data.
  • Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
  • Tax returns must typically be filed yearly.

To know more about tax returns, here

brainly.com/question/27300507

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5 0
1 year ago
Alice is trying to save money, so she decides she’ll only buy renters insurance if and when something bad happens at her apartme
ahrayia [7]

Answer:

The correct answer is letter "D": Insurance companies will only cover losses suffered while the policy is already in place.

Explanation:

Regardless of the type of insurance you purchase, the purpose of the coverage is having a policy in case an unexpected unfortunate event takes place. <em>Insurances do not enroll individuals who need the policy just because of an ongoing accident</em>. Those individuals could enroll in an insurance plan but the ongoing accident will not be covered by the company. Only those events happening when the policy is already valid are subject to evaluation for coverage.

7 0
3 years ago
What is the rate of return when 30 shares of Stock
sattari [20]

Answer:

-0.67%

Explanation:

We are told that 30 shares of Stock are purchased for $30/share..

This gives a total value of: 30 × 30 = $900.

Now,they are sold for $900 with a commission of $6. This means the final money getting to the seller is; 900 - 6 = $894.

Thus; rate of return percentage = (894 - 900)/894) × 100% = -0.67%

6 0
3 years ago
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