Answer:
As a result of operations, there will be an understatement of McGinnis’ net income for the most recent fiscal year of 30900
Explanation:
Services 40900
Weekly wage 10000
FY end on June 30900
The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made. Thus, you record revenue only when a customer pays for a billed product or service, and you record a payable only when it is paid by the company
Answer:
true is the correct answer right
Answer:
False
Explanation:
With the advent of computers, the office work that involved typing a data and sending information to others, witnessed a great trend shift from typewriters and manual handing over to computers and emails.
Hence as the computers became popular, the typewriter went to the decline stage of product life cycle because there wasn’t much demand left for producing typewriters
Answer:
$55,000
Explanation:
The computation of the change in operating income is shown below:
= Buying cost - making cost
where,
Buying cost = Cost of producing parts × outside supplier per unit
= 60,000 parts × $3
= $180,000
And, the making cost would be
= Variable cost + fixed cost × given percentage
= $110,000 + $50,000 × 30%
= $110,000 + $15,000
= $125,000
So, the operating income would be
= $180,000 - $125,000
= $55,000
