Which career pathway describes the two main aspects of the Business, Management, and Administration career cluster?

May 31, 2018 June 30, 2018Total Assets $211,000 $209,000Total Liabilities 133,000 99,000Begin by identifying the accounting equa

daser333 [38]

Answer:

a. $7,000

b. $39,500

c. $19,000

Explanation:

a. The computation of the net income or net loss is shown below:

= (June 30,2018 assets - June 30,2018 liabilities - contribution) - (May 31,2018 assets - May 31,2018 liabilities)

= ($209,000 - $99,000 - $25,000) - ($211,000 - $133,000)

= $85,000 - $78,000

= $7,000

b. The computation of the net income or net loss is shown below:

= (June 30,2018 assets - June 30,2018 liabilities + cash withdrawn) - (May 31,2018 assets - May 31,2018 liabilities)

= ($209,000 - $99,000 + $7,500) - ($211,000 - $133,000)

= $117,500 - $78,000

= $39,500

c. The computation of the net income or net loss is shown below:

= (June 30,2018 assets - June 30,2018 liabilities + cash withdrawn - contribution) - (May 31,2018 assets - May 31,2018 liabilities)

= ($209,000 - $99,000 + $22,000 - $35,000) - ($211,000 - $133,000)

= $97,000 - $78,000

= $19,000

6 0

2 years ago

The unemployment that is caused by changes in the economy, such as shifts in manufacturing techniques, increased use of comput

slava [35]

Answer:

D. structural unemployment.

Explanation:

D

Structural unemployment is caused by changes in the economy, such as shifts in manufacturing techniques, increased use of computers and electronic machines, and increases in the production of services instead of goods.

Structural unemployment is caused by technological change.

Cyclical unemployment is caused by business cycles. In down turns, unemployment rises and falls during a boom.

Frictional unemployment is the period between when Labour leaves his job and gets another one.

3 0

3 years ago

Outdoor Expo provides guided fishing tours. The company charges $300 per person but offers a 20% discount to parties of four or

Simora [160]

Answer:

May 2 No entry is required as the transaction is yet to happen

May 7 DR Accounts Receivable $1,200

CR Tour Revenue $1,200

May 9 DR No entry required

May 15 DR Sales Allowance (1,200 * 30%) $360

CR Accounts Receivable $360

May 20 DR Cash $789.60

DR Sales Discount $50.40

CR Accounts Receivable $840

Working

Accounts Receivable = 1,200 - 360 sales allowance = $840

Sales Discount = 840 * 6% discount = $50.40

Cash = 840 - 50.40 = $789.60

b. Net Revenues

= Revenue - Sales allowance - Sales discount

= 1,200 - 360 - 50.40

= $789,60

c. Partial Income Statement

Tour Revenues $1,200

Less:

Sales Allowance $360

Sales Discount <u> $50.60 </u>

Net Tour Revenue $789.40

8 0

3 years ago

It is the end of the year but not the end of the pay period. How will this affect the balance sheet?

Nataliya [291]

Answer:

This has no effect on the period-end balance sheet.

Explanation:

A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

According to the question asked the balanced sheet was prepared before the pay period came so this effect will not affect the balance sheet.

8 0

3 years ago

Read 2 more answers

assume george's sandwich included the same ingredients as a sanwhich that you can buy at your local deli explain why georgs's sa

Anika [276]

Answer: Economies of Scale

Explanation:

Economies of scale refers to the tendency of costs to reduce per unit as the number of units produced increases. This is because the producer is able to share the costs amongst all the units produced.

George was getting those ingredients to make a single burger so the produce he used were small in quantity and cost him more. The companies that make sandwiches in large numbers buy and produce the ingredients in bulk which reduces their prices.

For example, George went to Minneapolis to get salt for one burger, those companies would go and get salt for 10,000 burgers at the same time which would reduce the cost by dividing it across the 10,000 burgers.

This cost saving from economies of scale enables the local deli to sell products at a cheaper rate than if we had to make them ourselves.

6 0

2 years ago