Answer:
$260,000
Explanation:
The computation of the total amount of the net income earned is shown below:
Sales Revenue $800,000 ×1.10 $880,000
Less Variable Costs $200,000 × 1.10 -$220,000
Contribution Margin $660,000
Less: Fixed Costs -$400,000
Income from operations $260,000
We simply deduct the variable cost and the fixed cost from the sales revenue so that the income from operations or net income could come
$16.35 is the new hourly wages. $15 increase by 9% is 16.35
Answer:
B) A credit to Revenues-Change in Fair Value of Investments in the amount of $100,000.
Explanation:
Government entities have to record transactions using the fair market value of assets. In this case, the fair market value was $100,000 higher than the cost of the transferred investments. So that difference has to be adjusted using the Revenues-Change in Fair Market Value of Investments account.
Answer: Income is higher under absorption costing by $15,000. This is consistent with a general rule of thumb: Increases in inventory cause income to be higher under absorption costing than under variable costing, and vice versa.
Explanation:
Answer:
*** Cash $37,500
Explanation:
Optimum weight loss classified balance sheet .
Assets
Current assets
Cash $37,500
Account receivables $116,750
Prepaid insurance $7,200
Prepaid rent $21,000
Supplies $4,800
Total current assets $187,250
Non current assets
Equipment $474,150
Less
Accumulated depreciation $186,400
NBV $287,750
Land $300,000
Total non current assets
$587,750
Total assets
$775,000
Liabilities
Accounts payable $37,700
Salaries payable $9,000
Unearned fees $18,000
Total liabilities
$64,700
Equity
Common $75,000
Retained earnings $635,300
Total equity
$710,000
Total liabilities + equity
$710,300 + $64,700 = $775,000