Answer:
That we are no profit and loss position.
Explanation:
Breakeven point is the point at which the company is at no profit no loss position. If the lady is saying that we are breaking even, its one explanation is that all that we have earned has covered all of our costs. The second explanation is dependant on the fixed cost considered. If the fixed cost considered is for whole of the year and we are breaking even at the 8th month then the contribution in the next four months would be 100% profit.
Answer:
Option (b) is correct.
Explanation:
Correct amount of inventory to be reported:
Amount of inventory as per physical verification = $320,000
Cost of goods under consignment to Herschel Corporation = $47,000
Value of inventory to be reported:
= Amount of inventory as per physical verification + Cost of goods under consignment to Herschel Corporation
= $320,000 + $47,000
= $367,000
Answer:
$12,500
Explanation:
Assets are classified under current and fixed categories. Among items that Granger owns, a boat is an asset; specifically a fixed asset since it can be utilized over a year. Same reason for a car, which is also a fixed asset. Tools help in operating a business hence considered fixed assets as they can be utilized for more than a year. The total value of assets is (4000+8000+500)
Total value = $12,500
Answer: See explanation
Explanation:
Based on the information given in the question, the increase or decrease in the retained earnings will be calculated as:
= (10,000,000 - 400,000) × 15% × $15
= 9,600,000 × 0.15 × 15
= 21,600,000
The retained earnings will decrease by $21.6 million
The options given aren't correct.
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