Answer:
Instructions are listed below
Explanation:
An income statement is one of the three important financial statements used for reporting a company's financial performance over a specific accounting period. The income statement focuses on the four key items - revenue, expenses, gains, and losses. It does not cover receipts (money received by the business) or the cash payments/disbursements (money paid by the business).
It follows the general structures:
Revenues (+)
Operating Revenue
Non-Operating Revenue
Total
Expenses (-)
Primary Activity Expenses
Secondary Activity Expenses
Total
Gains (+)
Losses (-)
Net income/loss
In this exercise:
Total revenues=$954210
Expenses:
Office expense 219470
Miscellaneous expense 19085
Wages expense 458020
Total Expenses=$696575
Net profit= $275635
Answer:
A
Explanation:
Capital expenditures are a long-term investment. It is the purchase of assets with a useful life of at least one year
Answer: $68,600
Explanation:
Investment Income using Equity method = Plastic company Share in income of Spoon company - Depreciation on Assets
Plastic Company share in Income of Spoon Company = 100% * 78,000 = $78,000
Land cannot be depreciated so only Equipment will be depreciated.
= 94,000/10 years
= $9,400
Investment Income using Equity method = 78,000 - 9,400 = $68,600
Answer:
<em>1. When the price of fresh fish increases 5%, quantity demanded decreases 10%. The price elasticity of demand for fresh fish is elastic.</em>
<em>2. The determinants of elasticity include d) all of the above.</em>
<em>3. Cross-price elasticity of demand measures the response in the d) quantity of one good demanded to a change in the price of another good.</em>
<em>4. A value of price elasticity of demand equal to 2 means that b) quantity demanded falls by two times the amount of an increase in price.</em>
Explanation:
<em>Price elasticity of demand = % change in quantity demanded of a good / % change in price of the good</em>. Value greater than 1 implies quantity demanded is price elastic, equal to 1 implies quantity demanded is price unitary elastic and smaller than 1 implies quantity demanded is price inelastic.
<em>Cross Price Elasticity of demand = % change in quantity demanded of a good / % change in price of another good</em>.
For rest, refer to the answer.
Answer:b. positive and increasing at an increasing rate
The reason for this is that marginal cost is the extra cost of producing an extra unit so when the marginal cost curve is increasing it means that the total cost will increase faster then before because making a new product costs more than the previous one.
Explanation:
