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anastassius [24]
3 years ago
12

For each of the following, determine the amount of net income or net loss for the year. a. Revenues for the year totaled $71,300

and expenses totaled $35,500. The shareholders purchased $15,000 of common stock during the year. $ b. Revenues for the year totaled $220,500 and expenses totaled $175,000. The shareholders were paid $40,000 dividends during the year. $ c. Revenues for the year totaled $149,000 and expenses totaled $172,000. The shareholders purchased $12,000 of common stock and were paid $16,000 in dividends during the year. $ d. Revenues for the year totaled $198,150 and expenses totaled $174,200. The shareholders were paid $35,000 dividends during the year. $
Business
1 answer:
Anika [276]3 years ago
4 0

Answer:

a) Net income of $35,800

b) Net income of $45,000

c) Net loss of $23,000

d) Net income of $23,950

Explanation:

Net income is the difference between the revenue and expense.

Where revenue is more than expense, we have a net income otherwise, a net loss.

a) Net income = $71,300 - $35,500

= $35,800

b) Net income =  $220,500 - $175,500

= $45,000

c) Net loss =  $149,000 - $172,000

= - $23,000

d) Net income = $198,150 - $174,200

= $23,950

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3241004551 [841]

Answer: While not usual they can be held responsible for all business debts.

Explanation: If you pledge a asset as a collateral a creditor may be able to take said asset and sell it.

3 0
2 years ago
Which of the following statement is not true about derivative contracts?
8090 [49]

Answer:

a. A long position is a bet that the number is going to fall while a short position is a bet that the number will rise in the future.

Explanation:

The derivative contract is a contract in which the contract is to be done between two or more parties regarding the value i.e. depend upon the financial asset i.e. underlying. It involves the bonds, commodities, etc

So according to the given options, the option a is correct as long position is a bet in which the number is to be decline while on the other hand in the short position the number would increase

4 0
3 years ago
Venture Philanthropy Partners focuses on helping youth and children from low-income families in the Washington, D.C., area. What
andriy [413]

The work of Venture Philanthropy Partners in focusing on low-income families would make it a<u> Community Fund </u>

A Community Fund:

  • Focuses on helping a certain need in the society
  • Is usually targeted at the less well off in society

<u>Venture Philanthropy Partners</u> is targeting youth and children that come from lower income families which means that they are targeting the needs of the less well off.

We can therefore conclude that this is a community fund.

<em>Find out more at brainly.com/question/18776651. </em>

4 0
2 years ago
Rent control policies tend to cause
Savatey [412]

Answer:

The correct answer is d.  relatively smaller shortages in the short run than in the long run because supply and demand tend to be more inelastic in the short run than in the long run.

Explanation:

Rent control laws set limits on how much landlords can charge rent. The rent control laws specify:

  • What types of properties qualify for rent control.
  • How often rent limits can be adjusted.
  • How rent limits can be adjusted. Most rent control laws link increases in rental limits to an annual percentage of inflation in a local consumer price index.
  • The conditions when a property is "out of control."
  • Restrictions on the eviction of the tenant with rent control.

There are no federal rent control laws since the US Supreme Court. UU. He ruled that rent regulation is a state issue. Most states do not have rent control laws regulated. Only some cities and communities in some states continue to apply them.

In the United States, rent control laws were adopted during World War II when the country was experiencing a housing shortage. President Richard Nixon then passed the wage and price laws that influenced the modern rent control laws that are still being applied today. This is why most rent control laws usually apply to older properties built before 1980.

5 0
3 years ago
Ocean City Kite Company sells kites for $11.50 per kite. In FY 2019, total fixed costs are expected to be $250,000 and variable
Dmitry_Shevchenko [17]

Answer:

40,000 kits

Explanation:

The computation is shown below:

Number of kits required to be sold to meet the goal = Total Contribution Margin Required ÷ Contribution Margin per Unit

where,

Total contribution margin required is

= Total fixed cost + operating income

= $250,000 + $90,000

= $340,000

And, the

Contribution Margin per Unit = Selling Price per Unit - Variable Cost per unit

= $11.50 - $3

= $8.50

So, the number of kits required is

= $340,000 ÷ $8.50

= 40,000 kits

8 0
3 years ago
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