The sales discounts account is a contra account to the _______

A company sells 800 units at $16 each, has variable costs of $12 per unit, and fixed costs of $1,200. Income is $

Inessa05 [86]

Assuming a company sells 800 units at $16 each, has variable costs of $12 per unit. The after-tax income is $1,200.

<h3>After-tax income</h3>

Using this formula

After-tax income=(Selling units×Selling price)-[(Variable costs×Selling price)+Fixed costs]×(1- tax rate)

Let plug in the formula

After-tax income=(800 units× $16 each)-[(800 units × $12 each)+$1200]×(1-.40)

After-tax income=$12,800-($9,600+$1,200)×0.60

After-tax income=$12,800-$10,800×0.60

After-tax income=$2,000×0.60

After-tax income=$1,200

Inconclusion the after-tax income is $1,200.

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2 years ago

ma Rich purchased 100 shares of Stockits, Inc.'s $1 par value common stock from Stockits for $5 per share. Which statements are

vivado [14]

The correct options for Which statements are true regarding the effect of this transaction on Stockits' financial statements are B. Stockholders' equity on the balance sheet increases. C. The financing activities section of the statement of cash flows increases.

Equity is something invested in the company by using its owner or the sum of the entire belongings minus the sum of the company's general liabilities. E.g., common stock, additional paid-in capital, favored inventory, retained income, and the amassed different complete earnings.

For most companies, high stockholders' equity shows more stable finances and greater flexibility in case of an economic or financial downturn. information stockholders' equity is one way that buyers can learn about the monetary health of a firm.

Your question is incomplete. Please read below for the missing content.

ma Rich purchased 100 shares of Stockits, Inc.'s $1 par value common stock from Stockists for $5 per share. Which statements are true regarding the effect of this transaction on Stockits' financial statements? (Select all that apply.)

A. A gains will be reported on the income statement.

B. Stockholders' equity on the balance sheet increases.

C. The investing activities section of the statement of cash flows increases.

D. The financing activities section of the statement of cash flows increases.

E. Stockholders' equity on the balance sheet decreases.

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2 years ago

Hutton Company reported a $750 unfavorable overhead variance on a recent performance report. This means that factory overhead wa

Viefleur [7K]

Hutton Company reported a $750 unfavorable overhead variance on a recent performance report. This means that factory overhead was underapplied during the period.

<h3>What does an unfavorable overhead volume variance mean?</h3>

An unfavorable volume variance indicates that the amount of fixed manufacturing overhead costs applied (or assigned) to the manufacturer's output was less than the budgeted or planned amount of fixed manufacturing overhead costs for the same time period.

Unfavorable variance is an accounting term that describes instances where actual costs are greater than the standard or projected costs. An unfavorable variance can alert management that the company's profit will be less than expected.

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1 year ago

Economic stability is a benefit of technological advances. Please select the best answer from the choices provided T F.

musickatia [10]

Economic stability is an economy where there is consistent output growth and stable and low inflation growth. Advanced technology is the key to the economic stability of a country and its development.

<h3>What are the advantages of a stable economic condition?</h3>

Economic stability also contributes to the stability of all macroeconomic factors, such as increased production, improved efficiency, and a lower unemployment rate. Through technology and innovation, the overall standard of living of citizens improves as productivity increases, resulting in better goods and services.

Many techniques, such as inflation control, new job opportunities, stabilizing the currency rate, and many more, to maintain the stability of the economy. A stable economy encourages investment, creates consumer confidence, and helps in stimulating business growth and results in the overall economic development of a country.

It is therefore true that technological advances are beneficial for economic stability because they help to improve the living standards of citizens due to stable employment opportunities, resulting in a stable income for individuals.

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2 years ago

Read 2 more answers

Grantor C conveys a large house and land to his daughter and son-in-law to be theirs as long as they are married. One year later

Crazy boy [7]

Answer:

c. It reverts back to C

Explanation:

Grantor C conveys a large house and land to his daughter and son-in-law to be theirs as long as they are married. One year later they are divorced, The property is reverted back to C that is the Grantor. The property is neither given to the daughter nor to the son-in-law. This according to the American court law.

5 0

3 years ago

The sales discounts account is a contra account to the​ ________ account

The sales discounts account is a contra account to the ________ account