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3 years ago

What is one main objective in the studies of economics

Business

2 answers:

Marat540 [252]3 years ago

6 0

Answer:

recognizing the relationship between producers and consumers

Explanation:

Savatey [412]3 years ago

5 0

The answer can be:

The main objective of economics can be understanding the relationship between demand and supply of commodities. When there is demand in an economy regarding a good, the supply for that good will also increase and so will the prices. And when the demand decreases the supply will also be decreased by the producers in order to avoid losses. In other words economics helps to predict the relationship between producers and consumers

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In its income statement for the year ended December 31, 2022, Sunland Company reported the following condensed data.

melomori [17]

Sunland Company

Multi Step Income Statement

For the Year Ended December 31, 2022

Net sales $ 2,200,000

Less: Cost of goods sold ($ 1,257,000)

Gross margin / Profit $ 943,000

Less: Operating expenses ($ 722,000)

Income from operations $ 221,000

Other revenues and gains:

Interest revenue $ 35,000

Other expenses ans losses:

Interest expense ($ 72,000)

Loss on disposal of plant assets ($ 18,000) ($ 90,000)

Income before income taxes $ 166,000

Income taxes expenses ($ 46,000)

Net income $ 120,000

Sunland Company

Comprehensive Income Statement

For the Year Ended December 31, 2022

Net income $ 120,000

Add: Other comprehensive income $ 8,400

Comprehensive income $ 128,400

Net income (NI), also called net earnings, is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. It is a useful number for investors to assess how much revenue exceeds the expenses of an organization. This number appears on a company's income statement and is also an indicator of a company's profitability.

Learn more about Net income (NI) here

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7 0

2 years ago

Sheffield Corp. produces three versions of baseball bats: wood, aluminum, and hard rubber. A condensed segmented income statemen

nekit [7.7K]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Sales=$775000

Variable expenses= 523000

Contribution margin= 252000

Fixed expenses= 132000

Net income= $120000

Hard Rubber:

Sales=$65000

Variable expenses=58000

Contribution margin= 7000

Fixed expenses= 22000

Net income= -15000

New net income= 120,000 + 15,000 - 22,000= 113,000

6 0

3 years ago

The balance sheet category "Intangible Assets" includes:

AnnyKZ [126]

Answer:

b. patents, trademarks, and franchises.

Explanation:

Intangible assets are assets that aren't physical, they cannot be seen.

Examples of intangible assets are goodwill, patents, trademarks, and franchises.

8 0

3 years ago

The town of Smallsville is considering building a museum. The interest on the money Smallsville will have to borrow to build the

mestny [16]

Answer: See explanation

Explanation:

a. This has been solved and attached.

Note that the net benefits was calculated as:

= Marginal benefit - $200

b. Looking at the table and information provided in the attachment, we would see that no company offer to build the museum because since their cost of $1000 can't be covered by the revenue generated. The highest revenue gotten for the single price monopolist is $760 and this can't even cover their cost.

c. Based on the scenario given in (c), the highest revenue the price discriminating monopolist would make is $1200 and coupled with the fact that the cost is $1000, the maximum bid that a private company would make to supply the museum to Smallsville is $200 ($1200 - $1000)

7 0

3 years ago

You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the following balances:

goldenfox [79]

Answer:

Explanation:

Current Assets are those asset which will be liquidated within next one year.

cash and marketable securities $360,000

accounts receivable $1,280,000

inventory $2,180,000

Total Current Assets $3,820,000

Current Liabilities are those which is payable within next one year.

accrued wages and taxes $540,000

accounts payable $840,000

notes payable $680,000

Total Current Liabilities $2,060,000

Current ratio measures the capability of a business to pay the current liabilities if it becomes due.

Current Ratio = Current Assets / Current Liabilities = $3,820,000 / $2,060,000 = 1.85 times

5 0

3 years ago