Answer:
These are the options for the question:
A) 725
B) 423
C) 304
D) 524
And this is the correct answer:
A) 725
Explanation:
The total gross revenue under that level of production is: 725 x $31 = $22,475.
The variable costs are: 725 x $18 = $13,050
And the fixed costs are = $3,925
Now we simply substract the total variable costs and fixed costs from the gross revenue to obtain our desired net income:
$22,475 - $13,050 - $3,925 = $5,500
Answer:
D. The minimum of the range
Explanation:
First, it is essential to note the accrual of loss contingency is accruable only if the amount is estimable to a reasonable extent and the loss is also probable. Wyatt Co's loss is actually both probable and reasonably estimated so it meets the two criteria.
Furthermore, since it is reasonable within a rang of outcomes, Accounting Standards Codification Topic 450 (of the Financial Accounting Standard Board) dictates the amount to be accrued should be the better estimate of all amounts within the range.
The standard further states that in a situation where a better estimate can not be determined among the other amounts within the range then the amount accrued should be the one at the range's low end or the minimum amount of the range.
All these criteria shows that Wyatt CO's loss should accrue the minimum amount in the range
Answer:
Explanation:
The journal entries are shown below:
On March 12:
Service fee expense A/c Dr $10,000
To Accounts payable $10,000
(Being purchase of service is recorded)
On March 31:
Accounts payable A/c Dr $10,000
To Cash A/c $10,000
(Being cash payment is made)
Answer: The Reserve Bank of India keeps all of Advika’s foreign currency for her.
Explanation:
When a country uses exchange controls, it limits the amount of foreign currency that can come into a country. This is usually done to ensure stability in the money market of the country as well as to improve the balance of payments for the country.
One way of implementing exchange control is for all foreign currency to go through the Central bank of the country. Should a citizen need access to foreign currency, they would need to apply to the central bank to access it. With India having an exchange control system, the Reserve Bank of India keeps all foreign currency and Advika would have to apply for it should she need it.
Accountability relationships are crucial to god's plan for maturing followers of christ. a. true
Accountability is a guarantee that an individual or an enterprise might be evaluated on their performance or conduct associated with something for which they may be responsible. The time period is associated with duty but seen extra from the attitude of oversight.
Duty removes the time and effort you spend on distracting sports and other unproductive conduct. whilst you make human beings accountable for their movements, you're efficiently coaching them to price their paintings. while performed properly, accountability can increase your team participants' capabilities and self-belief.
The accountability principle calls for you to take duty for what you do with personal information and the way you observe the opposite concepts. You should have suitable measures and information in the vicinity which will display your compliance.
Learn more about accountability here:
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