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Ber [7]
3 years ago
7

The following transactions are July activities of Bill’s Extreme Bowling, Inc., which operates several bowling centers.

Business
1 answer:
Softa [21]3 years ago
4 0

Answer:

                                            Income Statement  

Sales                                          $12,250  

Operating Expenses Electricity   -$2,500  

Operating Expenses Wages           -$5,475  

Repairing Expenses                   -$1,500  

Net Income                                        $2,775  

Explanation:

The income statement is one of the principal financial statement of a company, it's necessary to know if the is generating profit or losses, it keep record of all the transaction during a period of time, but not consider payment   or collection made of other period.

This statement apply the accrual criteria, only consider de transaction occurred during the period and not the momento of payment.

In this case the following operations were leaving out becuase are of other period.

  • (c) The men’s and women’s bowling leagues gave Bill’s advance payments totaling $1,500 for the fall season that starts in September.
  • (d) Bill’s received $1,000 from credit sales made to customers last month (in June).

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These are the four stages of the business cycle:
Brut [27]

Answer:

IT'S D

Explanation:

ON EDGE2020

7 0
3 years ago
Which one of the following statements does NOT describe a problem with using ROE as a performance measure? A. ROE measures retur
Ne4ueva [31]

Answer:

B) ROE is a forward-looking, one-period measure, while business decisions span the past and present

Explanation:

ROE is a forward-looking, one-period measure, while business decisions span the past and present, this statement does not describe a problem with using ROE as a performance measure.

7 0
3 years ago
Chromatics, Inc., produces novelty nail polishes. Each bottle sells for 3.60. Variable unit costs are as follows:
devlian [24]

Answer:

Margin of safety= 9,000 units

Explanation:

Giving the following information:

Each bottle sells for 3.60.

Variable unit costs are as follows:

Acrylic base- .75

Pigments- .38

Other ingredients- .35

Bottle, packing material- 1.15

Selling commission- .25

Fixed overhead costs are 12000 per year. Fixed selling and administrative costs are 6720 per year. Chromatics sold 35000 bottles last year.

First, we need to calculate the variable cost per unit and total fixed costs:

Unitary variable cost= 0.75 + 0.38 + 0.35 + 1.15 + 0.25= $2.88

Total fixed costs= fixed overhead + fixed selling and administrative= 12,000 + 6,720= 18,720

Now, we can calculate the break-even point in units:

Break-even point= fixed costs/ contribution margin

Break-even point= 18,720 / (3.6 - 2.88)= 26,000 units

Margin of safety ratio= (current sales level - break-even point)

Margin of safety ratio= 35,000 - 26,000= 9,000 units

8 0
2 years ago
Keys Printing plans to issue a $1,000 par value, 20-year noncallable bond with a 7.00% annual coupon, paid semiannually. The com
Tresset [83]

Answer:

The WACC change if the new tax rate was adopted is - 0.35%

Explanation:

For computing the WACC change, first we have to determine the after tax cost of debt by applying the 40% and 45% tax rate which is shown below:

After tax Cost of debt = Cost of debt × ( 1- tax rate)

For 40% tax rate, it would be

= 7% × ( 1 - 40%)

= 4.2%

For 45% tax rate, it would be

= 7% × ( 1 - 45%)

= 3.85%

The change in WACC would be

= 3.85% - 4.2%

= - 0.35%

7 0
3 years ago
Cash balance per bank, July 31, $8,238. 2. July bank service charge not recorded by the depositor $58. 3. Cash balance per books
IgorLugansk [536]

Answer:

the adjusted cash balance is $ 11,142

service charge expense 58 debit

cash                             2868 debit

    accounts receivables        2926 credit

--to record bank reconciliation--

Explanation:

CASH

Balance               8274

Service Charge  -58

collection  <u>     2926</u>

Adjusted Balance 11,142

BANK

Balance                       8238

Outstanding Check -706

Deposit in transit     <u>    3610</u>

Adjusted Balance      11,142

4 0
2 years ago
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