Answer:
Janine is an accountant who makes $30,000 a year. Robert is a college student who makes$8,000 a year. All other things equal, who is more likely to stand in a long line to get a cheap concert ticket?
Robert; his opportunity cost is lower
Explanation:
Robert has loss of potential gain from the alternative available, his low income will made him to queue in order to get the concert ticket
Answer:
3.76 times
Explanation:
The computation of the asset turnover is shown below:
Asset turnover = Net sales ÷ Average total assets
= $1,356,504 ÷ $360,600
= 3.76 times
By dividing the net sales from the average total assets, the asset turnover could arrive i.e 3.76 times
This is the answer but the same is not provided in the given options
Answer:
Accrual basis accounting
Explanation:
Under Accrual basis of accounting, income is recognized when it is earned and not when actual cash is paid or received.
Under cash basis of accounting, income is only recognized when actual cash is received.
Accrual basis of accounting ensures transactions pertaining to a period are recorded in that period and it depicts more accurate financial picture unlike in cash accounting wherein income for a period might be overstated or understated.
Following cash basis of accounting is not in accord with both US GAAPs (generally accepted accounting principles) and IFRS.
Answer:
$243,900
Explanation:
Calip corporation reported the following results for the month of October
Sales= $413,000
Cost of goods sold= $169,100
Total variable sling expenditure= $20,700
Total fixed selling expense= $17,900
Total variable administrative expense= $13,100
Total fixed administrative expense= $30,400
The contribution margin can be calculated by subtracting the total cost of goods sold from the sales
= $413,000-$169,100
= $243,900
Hence the contribution margin for October is $243,900