Answer:
Bramble Corporation
Retained earnings statement for the year
Amount in $
Opening Balance 10,584
Net income 5,880
Dividend declared and paid <u> (4,200) </u>
Closing Balance <u> 12,264 </u>
Explanation:
The retained earnings statements shows the movement in the opening and closing balance of retained earnings. The elements of these movements are the dividend paid and the net income for the year.
Net income is the difference between the sales and expenses of the business.
Net income
= $25,200 - $12,600 - $1,680 - $3,780 - $420 - $840
= $5,880
The statement, "Dewy Cheatum encourages his employees to create and use legal loopholes to gain a competitive advantage. In keeping within the legal limits of the law, the employees are within their compliance-based ethics rights." is True
.
Option A
<u>Explanation:
</u>
To insure that the company and its staff comply with all laws and regulations correctly, a compliance-based code of ethics is established. The avoidance, identification, and deterrence of non-compliant actions are three key elements. There was a misunderstanding. Ethical codes are critical of compliance-based codes.
The ethics and conformity of the coin are essentially different. Compliance follows the law, while ethics is valid independent of the law. The government needs compliance. You have to cooperate. Ethics, though, is something that you decide to take into consideration as you act.
Answer:
The answer is: $115,000
Explanation:
Economic profit can be determined by the following formula:
economic profit = Revenues - (Explicit Costs + Implicit Costs)
where:
- revenues = $175,000
- explicit costs = $50,000
- implicit costs = 10% of $100,000 = $10,000
Economic profit = $175,000 - ($50,000 + $10,000) = $175,000 - $60,000
Economic profit = $115,000
Answer:
Check the explanation
Explanation:
Quite a lot of things can affect the operating income (such as the prices for raw materials, the company’s pricing strategy, or how expensive their labor costs) of any business venture.
In calculating that of westfall's sporty watches:
Unavoidable fixed costs for Sporty=(38500-23000)=$15500
Hence new net operating income=(126500-15500)=$111,000
Hence increase in net operating income=(111000-98000)=$13000(A).
The statement "low average total costs are obtained only through large-scale production" defines the Economics of Scale
Large scale production:
Large scale production means the production of a commodity on a large scale with a large sized firm and it requires huge investments in plant and machinery.
Given,
In the natural gas industry, low average total costs are obtained only through large-scale production. In other words, the initial cost of setting up all the necessary pipes and hoses makes it risky and, most likely, unprofitable for competitors to enter the market.
Here we need to define the concept that used here.
In the given question, they state that the low average cost of the product is happen when the production is larger. In this stage the profit is low.
While we looking these definition, we have identify that it will explain the scale of the economy.
To know more about Large scale production here.
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