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Virty [35]
3 years ago
11

What is the best definition of profit?

Business
1 answer:
Artist 52 [7]3 years ago
4 0
<span>Profit can be best defined as gain, especially when achieved by increasing the price of goods so the money paid by consumers outweighs the cost for the producer, leaving a sizeable return on what has been paid out. Once expenses and costs have been covered, profit is the money left over.</span>
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On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, and on Nov
ivann1987 [24]

Answer: The answer is as follows:

Explanation:

Journal entries are as follows:

For October 31:

Cash  (400,000 × $18)                   $7,200,000

Common stock  (400,000 × $10)                                          $4,000,000

Paid in capital in excess of par value-common stock         $3,200,000

( record of issuing common stock)

For November 19:

Cash  (50,000 × $80)                    $4,000,000  

Preferred stock (50,000 × $75)                                             $3,750,000

Paid in capital in excess of par value-Preferred stock        $250,000

( record of issuing preferred stock)

8 0
3 years ago
In a planned economy what predicts the demand of goods and services and coordinates the appropriate level of production of these
CaHeK987 [17]

Answer:

The government

Explanation:

In the command economy, the government makes all economic decisions in the country. The command economy is also known as the command centrally planned economy. A central authority, which is the government decides what products will be manufactured, and they will be distributed.

The government makes economic plans for the country that outlines the level of production. It allocates resources required for production as per the plans. The government though its different agencies, owns the factors of production.

8 0
3 years ago
A good rule of thumb is to limit consumer credit payments to ____________ percent of your net monthly income.
frutty [35]
<span>A good rule of thumb is to limit consumer credit payments to 20% percent of your net monthly income.</span>
6 0
3 years ago
People get too stressed when they try to work fast
grandymaker [24]
That is true, was that your question? :)
8 0
3 years ago
Read 2 more answers
Classify each property according to whether it is displayed by metals or by nonmetals
ElenaW [278]
<span>The following properties can be classified as those associated with metal elements: having a high density, malleable, and having low melting points. The following properties can be classified as those associated with non-metal elements: dull and nonreactive to acids.</span>
3 0
3 years ago
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