Answer:
Answer is A. USD 80/-
Explanation:
Using FIFO costing, we get:
- <u>Gross Profit = Sales - Cost of Goods Sold
</u>
COGS (Cost of Goods Sold) for two units,
COGS = First purchase + Second purchase
COGS = $70 + $80
COGS = $150
Sales = $230
- <u>Calculating the Gross Profit:
</u>
GP (Gross Profit) = Sales - Cost of Goods Sold
GP = $230 - $150
GP = $80
Answer:
Two detectives think that a murder suspect has the murder weapon hidden in his apartment. Before they can search the apartment, they have to obtain a search warrant from a judge. Why are police required to get warrants before completing such searches?
They gets such warrant in order not be charged for being trespass which is punishable under the law, it entails when an outsider without invitation intrudes into another person's home, such could lead to being accused of theft, trespass among others.
Explanation:
Be honest about your qualifications
Answer:
a. Increase in inventory - <u>an operating activity subtraction from net income</u>
This is an operating activity as it has to do with the day to day business of the company and its operations. It is a subtraction from Net income because an increase in inventory means that more cash was spent to buy the inventory.
b. Issuance of common stock - <u>a financing activity</u>
Financing activities are those that have to do with raising capital for the business so when stock is issued and Equity is raised, it is a financing activity.
c. Decrease in accrued liabilities - <u>an operating activity subtraction from net income</u>
Liabilities are also in relation to the firm's operations so they are operating activities. This will be a subtraction from Net income because cash was used to pay off liabilities which is what reduced them.
d. Net income - <u>operating activity addition to net income</u>
Net income is derived from the operations of the business so is an Operating activity. It will increase net income evidently.
e. Decrease in prepaid expense - <u>operating activity addition to net income</u>
Prepaid expense is in relation to expenses which is an operating activity. It will be an addition to net income because as an asset, it reducing means that cash was not paid to acquire it.
Answer:
The answer is by charging lower price on remaining three ticket (any ticket price above $0)
Explanation:
As company is not giving any refreshment so it not incurring any variable cost. So here sales is equal to contibution and every single dollar revenue generated is a contribtion towards fixed cost and targeted profit. So by decreasing sale price on remaining tickets company will be able to sell them and this sale will result in more profit to the company.
