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Katyanochek1 [597]
3 years ago
10

Wexler, Inc.’s income statement showed total expenses for the year to be $50,000. If the company’s revenues for the year were $1

35,000 and its year-end cash balance was $35,000, what was Wexler’s net income for the year?
Business
1 answer:
SOVA2 [1]3 years ago
8 0

Answer:

The Wexler’s net income for the year is $85,000

Explanation:

Net income: If the company has excess revenues over its expenses than it is term as net income otherwise it is a net loss.  

The computation of the net income is shown below:

= Total revenues - total expenses

= $135,000 - $50,000

= $85,000

The ending cash balance is not reflected in the income statement because it has come under the asset side in the balance sheet.

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Explanation:

Strict liability is a legal doctrine that holds a person responsible for the damages or loss caused by his or her acts or omissions. In torts, strict liability is the doctrine that imposes liability on a party or person without a finding of fault. A finding of fault would be negligence or tortious intent.

Strict liability is an important factor in maintaining safety in high-risk environments by encouraging individuals, employers, and other parties to implement the means to prevent injuries and damages. Construction, manufacturing, and other potentially dangerous work settings are typically subject to strict liability.

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3 years ago
If you stare at a red patch and then look at a red apple, will your experience of the redness of the apple be stronger or weaker
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It will be weaker. According to Hering’s opponent-process model, our eyes will experience a certain level of fatigue after observing a certain object for a prolonged period of time. This level of fatigue usually happen only temporarily and you could experience the same level of color distinguish if you let your eyes rest for a while.
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3 years ago
Read 2 more answers
Assume that demand for bottled water is relatively price elastic. An increase in supply of bottled water will result in which of
DENIUS [597]

Answer:

3 then 1

Explanation:

Supply is said to be increased when the quantity supplied expands but the price and quantity demanded remains unchanged. As quantity supplied has increased whereas the quantity demanded is what it was before this change, there is first a surplus of bottled water in the market. This surplus will have a downward pressure on price, reducing the quantity supplied a bit and, as the law of demand suggests ,the quantity demanded will increase. Given that the demand is relatively price elastic, the change in quantity demanded will be greater than the change in price. Therefore the revenue will increase.

3 0
3 years ago
Is used to record and accumulate all the costs assigned to a specific job.
Mashutka [201]
The Correct Answer is Option D. (Job-Cost record)
6 0
3 years ago
Pack-and-Go, a new competitor to FedEx and UPS, does intra-city package deliveries in seven major metropolitan areas. The perfor
AfilCa [17]

Answer:

Pack-and-Go

1. From a financial perspective, Pack-and-Go should invest in the new technology.  It will enjoy a contribution margin of 97.5%.

2. The break-even increase in annual revenue that would justify the investment in the new technology is:

Fixed cost = Contribution

$80,000 = Contribution - $8,000

= $72,000 ($80,000 - $8,000

Explanation:

a) Data and Calculations:

Expected cost of new technology investment = $80,000

Delivery performance:

                                           Decision Alternative

                                              After Implementing

Item                               Current System      New Technology

On-time delivery rate              80%                       95%

Variable cost per package lost

 or damaged                          $30                        $30

Allocated fixed cost per

 package lost or damaged   $10                         $10

Annual number of packages

 lost or damaged                 300                         100

Variable cost for lost or

 damaged packages      $9,000 (300*$30)      $3,000 (100*$30)

Fixed cost for lost or

 damaged packages        3,000 (300*$10)       $1,000 (100*$10)

Total cost for lost or

damaged packages      $12,000                       $4,000

Increase in the on-time performance rate = 95% - 80% = 15%

Increase in annual Revenue = $10,000 * 15 = $150,000

Savings from lost or damaged packages =           8,000 ($12,000 - $4,000)

Total savings from new technology =              $158,000

Annual cost of new technology =                       (80,000)

Net savings from new technology =                  $78,000

Contribution margin based on net savings = $78,000/$80,000 * 100 = 97.5%

Average contribution margin = 40%

7 0
2 years ago
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