All categories

3 years ago

What is profit?

Business

1 answer:

lions [1.4K]3 years ago

3 0

Answer:

C. Money remaining when all other business expenses, including

salaries, rent, and taxes, have been paid.

Explanation:

Profit can also be said to be the difference between the amount earned and the amount spent in buying, operating, or producing something.

You might be interested in

Now that you are successful in your new position, you have decided to reward yourself with a new (or new to you) vehicle. Source

Serhud [2]

Answer:

Range is : (0, 0.1x)

Explanation:

Problem has no information about amount of salary, so I will just use 'x' and 'y'.

Problem says that vehicle payment should be no more than 10% of gross monthly salary. This means that vehicle payment (Y) equals to 0.1 (10%) multiplied by gross monthly salary, which is stated as 'X'.

From this y = 0.1 X;

Next, if we want to identify range of payments: (0; 0.1X).

This means that any amount of money between 0 and 0.1X is acceptable.

5 0

3 years ago

Read 2 more answers

Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company

algol [13]

Answer:

b) Income is allocated on a pro rata basis

Explanation:

A partnership is an agreement between two or more people to oversee a business and share in the profit and losses made by the business.

In a partnership when income comes in it is shared.on a pro rata basis.

This means income is given based on the level of ownership of the business.

For example a partner that has 60% ownership of the partnership is expected to collect 60% of the business income.

Pro rata is also called proportional rate.

8 0

3 years ago

A firm that has recently experienced an enormous growth rate is seeking to lease a small plant in Memphis, TN; Biloxi, MS; or Bi

ser-zykov [4K]

Answer and Explanation:

The computation of the total cost under each locations is as follows:

The total cost of Memhpis is

= $40,000 + (10,000 units × $8) + $50,000

= $40,000 + $80,000 + $50,000

= $170,000

The total cost of Biloxi is

= $60,000 + (10,000 units × $4) + $60,000

= $60,000 + $40,000 + $60,000

= $160,000

And, the total cost of Birmingham is

= $100,000 + (10,000 units × $5) + $25,000

= $100,000 + $50,000 + $25,000

= $175,000

7 0

3 years ago

Which of the following is true of flow shop processes? a. They use different sequence of processing steps for different orders.

gtnhenbr [62]

Answer:

The answer is Letter D.

Explanation:

They are large-scale customized initiatives with wide variations in tasks.

Because the process is reapted over and over again. It is always the same process with easier mechanization, higher quantity production, which allows faster continuous improvement.

4 0

4 years ago

Tidwell Corporation was organized on January 1, 2014. It is authorized to issue 20,000 shares of 6%, $50 par value preferred sto

gladu [14]

Answer:

Tidwell Corporation

a. Journal Entries:

Jan. 10:

Debit Cash Account $280,000

Credit Common Stock $70,000

Credit APIC - Common Stock $210,000

To record the issue of 70,000 common stock shares at $4 per share.

Mar. 1:

Debit Cash Account $636,000

Credit Preferred Stock $600,000

Credit APIC -Preferred Stock $36,000

To record the issue of 12,000 preferred stock at $53 per share.

May 1:

Debit Cash Account $720,000

Credit Common Stock $120,000

Credit APIC - Common Stock $600,000

To record the issue of 120,000 common stock shares at $6 per share.

Sept. 1:

Debit Cash Account $25,000

Credit Common Stock $5,000

Credit APIC - Common sTock $20,000

To record the issue of 5,000 common stock shares at $5 per share.

Nov. 1:

Debit Cash Account $168,000

Credit Preferred Stock $150,000

Credit APIC - Preferred Stock $18,000

To record the issue of 3,000 preferred stock shares at $56 per share.

2. Common Stock Account

Date Account Titles Debit Credit

Jan. 10 Cash Account $70,000

May 1 Cash Account 120,000

Sept. 1 Cash Account 5,000

APIC - Common Stock Account

Date Account Titles Debit Credit

Jan. 10 Cash Account $210,000

May 1 Cash Account 600,000

Sept. 1 Cash Account 20,000

Preferred Stock Account

Date Account Titles Debit Credit

Mar. 1 Cash Account $600,000

Nov. 1 Cash Account 150,000

APIC - Preferred Stock Account

Date Account Titles Debit Credit

Mar. 1 Cash Account $36,000

Nov. 1 Cash Account 18,000

Explanation:

a) Data and Calculations:

Authorized preferred stock, 6% at $50 par value = 30,000 shares = $1,500,000

Authorized common stock, stated value of $1 per share = 500,000 shares = $500,000

Stock transactions:

Jan. 10 Issued 70,000 shares of common stock for cash at $4 per share (Cash $280,000, Common Stock $70,000, and APIC $210,000)

Mar. 1 Issued 12,000 shares of preferred stock for cash at $53 per share

(Cash $636,000, Preferred Stock $600,000, and APIC $36,000)

May 1 Issued 120,000 shares of common stock for cash at $6 per share.

(Cash $720,000, Common Stock $120,000, and APIC $600,000)

Sept. 1 Issued 5,000 shares of common stock for cash at $5 per share

(Cash $25,000, Common Stock $5,000, and APIC $20,000)

Nov. 1 Issued 3,000 shares of preferred stock for cash at $56 per share

(Cash $168,000, Preferred Stock $150,000, and APIC $18,000)

4 0

3 years ago