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4 years ago

Markets distribute goods and services based on _____. A. revenue B. price C. profits

Business

2 answers:

Svetlanka [38]4 years ago

8 0

Answer: A. revenue

Markets distribute goods and services based on revenue.

Explanation:

Revenue refers to the money generated or received from sale of goods or services during a specific period. It is also referred to as the income earned by a business organization or company from its business activities. It can be calculated by multiplying the price at which goods (products) or services are sold by the number of units or amount sold.

andrew11 [14]4 years ago

6 0

The correct answer to this question is this one: A. revenue. By definition, a revenue<span> is the income that a business has from its normal business activities, usually from the sale of goods and services to customers. So hope this helps answer your question.</span>

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Waterway Enterprises reported cost of goods sold for 2020 of $1,385,600 and retained earnings of $5,415,900 at December 31, 2020

levacccp [35]

Answer:

b. Corrected 2020 cost of goods sold = $ 1,320,320.

b. Corrected retained earnings = $5,377,860.

Explanation:

a. Determine the corrected amounts for 2020 cost of goods sold

An overstatement of the beginning inventory has to be deducted from the reported cost of good sold since the amount of the overstatement was added to the cost of goods sold initially.

On the other hand, an overstatement of the ending inventory has to be added to the reported cost of good sold since the amount of the overstatement was deducted to the cost of goods sold initially.

Therefor, we have:

Corrected 2020 cost of goods sold = $1,385,600 - $103,320 + $38,040 = $ 1,320,320.

b. Determine the corrected amounts for December 31, 2020, retained earnings

In this case, the amount of overstatement of the ending inventory has to be deducted from the reported retained earning since the retained earning was initially overstated by that amount.

Therefore, we have:

Corrected retained earnings = $5,415,900 - $38,040 = $5,377,860

3 0

4 years ago

Softie, Inc. produces facial tissues. The company's contribution margin ratio is 77%. Fixed expenses are $240,400. To achieve a

sladkih [1.3K]

To achieve a target profit of $930,000, Softies' sales must be $1,520,000.

<h3>What is target profit?</h3>

Target profit is the amount of profit that a company's managers anticipate achieving by the conclusion of a specific accounting period.
Typically, the target profit is established from the budgeting process and is compared to the actual result in the income statement.
If they chose to earn a 20% margin on each sale, they will make a $50 profit on each chair sold.
As a result, if the corporation wishes to make $50 per chair and sell the chair for $200, the chair must be manufactured for $150 or less.

To find the target profit of Softie, Inc.:

Sales = ($240,400 + $930,000) ÷ 0.77
= $1,520,000

Therefore, to achieve a target profit of $930,000, Softies' sales must be $1,520,000.

Know more about target profit here:

brainly.com/question/17061733

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6 0

2 years ago

The group of accounting educators who perform research to determine the possible effects on financial reporting and the economy,

DedPeter [7]

Answer:

The correct answer is American Accounting Association (AAA).

Explanation:

The American Accounting Association (AAA) promotes excellence around the world in education, research and accounting practice. Founded in 1916 as the American Association of University Accounting Instructors, its current name was adopted in 1936. The Association is a voluntary organization of people interested in education and research in the field of accounting.

5 0

4 years ago

If an intangible asset has a legal life of eight years but contractually the usefulness is limited to six years, a company will

ANTONII [103]

Answer:

The company will amortize the cost over 6 years.

Explanation:

Intangible assets which have a useful life that is either indefinite or identifiable.

The assets having identifiable useful lives, are amortized on the basis or method of straight-line over the legal or the economic life, which ever is short.

The assets having indefinite useful lives are assessed every year for the impairment. And the impairment losses need to evaluated by deducting the market value of the asset from the carrying value.

So, in this case, the asset has legal life of 8 years and on contract is 6 years, the company will amortize the asset over the 6 years as the intangible asset have identifiable useful lives, therefore, need to amortized over legal or economic life, which ever is shorter.

Hence, legal is 8 years and economic life is 6 years, so the short is 6 years.

4 0

3 years ago

Halliford Corporation expects to have earnings this coming year of per share. Halliford plans to retain all of its earnings for

STatiana [176]

Answer:

P₀ = $59.45

Explanation:

the numbers are missing so I looked for a similar question:

expected EPS = $2.775
retain 0% of earnings (years 1 - 2)
retain 48% of earnings (years 3 - 4)
then retain 23%
expected return on new projects = 22.4%
Re = 10.7%

growth rate = retention rate x return on new projects

g₁ = not given EPS₁ = $2.775

g₂ = 1 x 22.4% = 22.4% EPS₂ = $3.3966

g₃ = 1 x 22.4% = 22.4% EPS₃ = $4.1574

g₄ = 0.48 x 22.4% = 10.752% EPS₄ = $4.6044

g₅ = 0.48 x 22.4% = 10.752% EPS₅ = $5.0995

g₆ = 0.23 x 22.4% = 5.152% EPS₆ = $5.3622

dividend payout ratio expected dividend

year 1 = 0 $0

year 2 = 0 $0

year 3 = 0.52 $2.1618

year 4 = 0.52 $2.3943

year 5 = 0.77 $3.9266

year 6 = 0.77 $4.1289

since the growth rate became constant at year 6, we can find the terminal value for year 5:

terminal value year 5 = $4.1289 / (10.7 - 5.152%) = $74.4214

P₀ = $0/1.07 + $0/1.07² + $2.1618/1.07³ + $2.3943/1.07⁴ + $3.9266/1.07⁵ + $74.4214/1.07⁵ = $0 + $0 + $1.7647 + $1.8266 + $2.7996 + $53.0614 = $59.45

3 0

3 years ago