Answer:
B. $2900
Explanation:
Given that revenue = 5000
Expenses = 2100
Recall that
Net income = total revenue - total expenses
Thus,
Net income = 5000 - 2100
= $2900
NOTE: account receivable and dividends are not used in the calculation because they are part of the company's revenue for the year and expenses for the period respectively.
The reason that the companies are selling their goods on an open account because of the fact that competitive pressure are likely to push firms into engaging and selling into open account basis, that is why major companies are likely to sell goods in an open account.
<span>managerial bias is the term used to describe the potential for analysis to be based on rosy or optimistic forecasts Ex: high sales projections &/or low cost projections</span>
Answer:
$170
Explanation:
As we know that
Total cost = Total fixed cost + total variable cost
The total fixed cost would remain the same whether the production level increases or not but the case is not the same as the total variable cost. In total variable cost, the output will change as per the production level changes
When output was 4 units per week, The total cost would be
= Total fixed cost + total variable cost
= $100 + $70
= $170
Answer:
C) $195,000.
Explanation:
Calculation for the amount that Lawson should report as inventories in its balance sheet
Raw materials 27,000
Add Work-in-process 59,000
Add Finished goods 109,000
Inventories $195,000
Therefore the amount that Lawson should report as inventories in its balance sheet will be 195,000
