Answer:
Paradise Travel Service
Balance Sheet as of May 31, 20Y6:
Assets:
Cash $52,000
Accounts receivable 38,000
Supplies 3,000
Land 450,000
Total assets $543,000
Liabilities and Equity:
Accounts payable 18,000
Common Stock 100,000
Retained Earnings 425,000
Total liabilities and
equity $543,000
Explanation:
a) Data and Calculations:
Paradise Travel Service
Income Statement for the year ended May 31, 20Y6:
Fees earned $900,000
Office expense 300,000
Miscellaneous expense 15,000
Wages expense 450,000
Total expenses 765,000
Net Income $135,000
Statement of Retained Earnings for the year ended May 31, 20Y6:
Retained Earnings, June 1, 20Y5 $300,000
Net Income 135,000
Dividends 10,000
Retained Earnings, May 31, 20Y6 $425,000
b) The balance sheet shows the balances of assets, liabilities and equity at the end of an accounting period. It derives its name from the accounting equation, which states that assets = liabilities + equity. This equation implies that the two sides always balance each other.
Answer:
Since the average variable cost curve lies below the average total cost curve, this implies that the average variable cost is the lowest price at which the producer can sell.
If there is no possible output where the price would be at least equal to the average variable costs, the firm should cease production, because it is not going to recover its costs, not to talk about making a profit.
Explanation:
A firm's average variable cost is the total variable cost divided by the total output. For example, if the total variable cost for a particular product is $4,500 with a total output of 450 units, then the average variable cost is $10 ($4,500/450).
Answer and Explanation:
The answer given in the question are not correct. Following should be the choices:
A: 6.5%
B: 7.4%
C: 3.8%
D: 4.6%
The correct answer is A. 6.5 %
The reason is:
3.5% x 1.1% = 4.6%
3.5% + 3.9% = 7.4%
It has to be in between this which is,
4.6% < 6.5% < 7.4%
Answer:
$92,054
Explanation:
The computation of the gross income is shown below:
= Wages earned + interest received from a savings account
= $87,240 + $4,814
= $92,054
We simply added the wages earned and the interest received from a savings account so that the accurate amount can come i.e gross income
All other information which is given is not relevant. Hence, ignored it
Answer:
iu should change in 2hrs
at minimum to guard against possible unseen punctures
