Answer:
Lucky Enterprises Income statement
Amount in $ Amount in $
Revenue 122,100
Operating expenses:
Salaries and Wages Expense 83,300
Rent Expense 22,400
Supplies Expense 5,500
Insurance Expense 3,700
Interest Expense 800
Bad Debt Expense 900
Depreciation Expense <u> 2,100</u>
<u> </u><u>(118,700
)</u><u> </u>
Net Income/(loss) <u> </u><u>3,400</u><u> </u>
Explanation:
The income statement is the statement that shows if an organization made a net income or loss from its operations over a period of time.
It shows the sales and expenses of the organization.
Asset: 120,000
Year 1: estimated useful life of 10 years. residual value of 10,000
120,000 - 10,000 = 110,000 / 10 years = 11,000 annual depreciation.
Start of year 3.
estimated useful life of 4 years. residual value of 2,000
120,000 - 2,000 = 118,000 / 4 = 29,500 annual depreciation.
29,500 x 2 = 59,000
11,000 x 2 = 22,000
59,000 - 22,000 = 37,000
59,000 + 37,000 = 96,000 / 2 = 48,000 annual depreciation for year 3 and year 4.
Beginning Balance: 120,000
Less: Depreciation:
Year 1 11,000
Year 2 11,000
Year 3 48,000
Year 4 48,000 <u> (118,000)</u>
Residual Value 2,000
Answer:
Arbitration
Explanation:
Arbitration is a dispute resolution mechanism where two or more conflicting parties seek the services of an independent third party to resolve the dispute. Arbitration can be described as a private judicial process whereby the arbitrator acts at the judge. The arbitration process may be determined by a single individual or a tribunal consisting of several arbitrators.
In arbitration, the disputing parties agree on how the conflict will be resolved. Each party is given time to argue their case and present their evidence. Arbitrators are expected to be fair and impartial. They should be knowledgeable about issues of law or experts in the field of the conflicting parties. Arbitration is faster and less expensive compared to the court process. The decision of the arbitrator is usually legally binding.
How much consumers would be willing to pay for a new product
Hi!
The answer is D
Happy Studying!~ Simple Girl ~