Answer:
$186,900
Explanation:
The gross profit is the difference between the sales revenue and the cost of good sold. The gross profit percentage is the ratio of gross profit to net sales expressed as a percentage.
As such, the net operating income/loss is the difference between the sales and the total costs
.
To get the net income, we would first get the gross income.
Gross income
= $730,000 - (40% * $730,000)
= $438,000
Next we must compute the net income before tax. This is the difference between the gross income and the operating expenses
= $438,000 - $90,000 - $81,000
= $267,000
Income tax expense = 30% * $267,000
= $80,100
budgeted net income for 2018
= $267,000 - $80,100
= $186,900
An investors primary goal is to make money. More specifically, money that is greater than the sum amount initially invested.
Answer:
The purchase should stay the same or even increase its number.
Explanation:
To begin with, due to the fact that the income elasticity of peanut butter is exactly -0,7 then that good is inferior and because of that when the income drops by 15 percent next year then the consumer will still be buying the product but in a more frequent way due to the fact that if the income decreases then the demand of that product that tend to be inferior will be available for everyone. That is why, as a manager you should continue to buy peanut butter.
Answer:
Dr Treasury stocks 200
Cr Cash 200
Explanation:
Whenever treasury stock is repurchased, you must record the full purchase price under treasury stock account (debit balance) and credit cash or any other asset used to pay for them.
Treasury stock is a contra equity account that reduces the value of shareholders' equity, that is why it has a debit balance while shareholders' equity has a credit balance.
