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denis-greek [22]
3 years ago
11

The following transactions were completed by the company. The company completed consulting work for a client and immediately col

lected $5,600 cash earned. The company completed commission work for a client and sent a bill for $4,100 to be received within 30 days. The company paid an assistant $1,450 cash as wages for the period. The company collected $2,050 cash as a partial payment for the amount owed by the client in transaction b. The company paid $720 cash for this period's cleaning services.

Business
1 answer:
Burka [1]3 years ago
7 0

Answer:

See explanation Section

Explanation:

See the image to get the appropriate answer.

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Answer:

things that people are into or enjoy doing.

Explanation:

also known as hobbies or skills

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3 years ago
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Assume the initial present value of the payments on a lease are equal to the cost of the leased asset. This capital lease is rec
Whitepunk [10]

Answer: D) present value of the remaining lease payments.

Explanation:

When recording a capital lease in the balance sheet of the lessee, the amount recorded is the<em> lower amount </em>between the present value of the remaining lease payments or the cost of the leased asset.

As the <em>cost</em> of the leased asset is <em>equal</em> to the <em>initial</em> present value of the payments, the cost will therefore be higher than the current present value of the remaining payments so the appropriate amount to put in the balance sheet will be the current present value of the remaining lease payments.

4 0
3 years ago
If globalization continues over the next few decades, how might your life be different?
dexar [7]

Answer:

Too much globalization is lack of resources which leads to more disease and death

4 0
3 years ago
What corporation provided a grant to fund a program in the 1980s to expose young people to capitalism through FBLA?
sergij07 [2.7K]
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6 0
2 years ago
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g The company is deciding whether to drop product line Apple because it has an operating loss. Assuming fixed costs are unavoida
KIM [24]

Fruit Pie Inc. has three product lines—Strawberry, Cherry, and Apple. The following information is available:

                                         Strawberry     Cherry       Apple

Sales revenue                   $70,000​    $60,000​    $31,000​

Variable costs                    (20,000)     (15,000)     (11,000)

Contribution margin         $50,000​   $45,000​   $20,000

Fixed costs                        (20,000)       (5000)   (25,000)

Operating income (loss)  $30,000​  $40,000​      $(5000)

The company is deciding whether to drop product line Apple because it has an operating loss. Assuming fixed costs are unavoidable, if Berry Pie Inc. drops product line Apple and rents the space formerly used to produce product Apple for $20,000 per year, total operating income will be ________.

Group of answer choices

$25,000

$65,000

$11,000

$20,000

Answer:

Fruit Pie Inc.

Assuming fixed costs are unavoidable, if Berry Pie Inc. drops product line Apple and rents the space formerly used to produce product Apple for $20,000 per year, total operating income will be ________.

= $65,000.

Explanation:

a) Data and Calculations:

                                        Strawberry     Cherry       Apple

Sales revenue                   $70,000​    $60,000​    $31,000​

Variable costs                    (20,000)     (15,000)     (11,000)

Contribution margin         $50,000​   $45,000​   $20,000

Fixed costs                        (20,000)       (5000)   (25,000)

Operating income (loss)  $30,000​  $40,000​      $(5000)

Income Statement after the Elimination of Apple:

                                        Strawberry     Cherry    Total

Sales revenue                   $70,000​    $60,000​  $130,000

Variable costs                    (20,000)     (15,000)    (35,000)

Contribution margin         $50,000​   $45,000​    $95,000

Fixed costs                        (20,000)       (5000)    (25,000)

Fixed costs (Apple's)                                             (25,000)

Rent income                                                           20,000

Operating income (loss)  $30,000​   $40,000​)  $65,000

7 0
3 years ago
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