The Cash T-account of Rainbow, Inc. has a beginning balance of $52,000. During the year, $244,000 was debited and $241,000 was c
1 answer:
Answer:
Ending balance will be equal to $55000
Explanation:
We have given beginning balance = $52000
Debited amount = $244000
And credited amount = $241000
We have to find the ending balance of cash
Ending balance is given by
Ending balance = beginning balance + credit amount - credited amount
So ending balance
So ending balance will be equal to $55000
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Answer:
B. $544,000
Explanation:
Given: Sales: $480000.
Contribution margin ratio= 25%
net loss= $16000.
Break even point: It is point in business where profit is equal to expenses of the business.
Now, finding the fixed expense.
Fixed expense=
⇒ Fixed expense=
⇒ Fixed expense=
∴ Fixed expense=
Next, computing the break even point
Sales to Break even point=
⇒ Break even point=
∴ Break even point=
Hence, the break even point was $544000
Answer and Explanation:
The completion of the second, fourth, and fifth columns of the given table is to be shown in the attachment below:
As we know that
Profit = Total revenue - total cost
Total revenue is the revenue earned by the company by multiplying the price with the quantity demanded
While the total cost is
= Fixed cost + variable cost
The marginal revenue comes from
= Change in total revenue ÷ change in quantity
We simply use these formulas in the spreadsheet below.
