Answer:
c y = 55,000 + 126.50X
Explanation:
Fixed Costs = $55,000
Variable Costs = $35 + $11.50 + $80 = $126.50
Therefore, The cost function best represents these costs is y = 55,000 + 126.50X
Answer:A. Public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP.
Explanation:GAAP(Generally accepted accounting principles) is a body saddled with the response of ensuring that financial statements are prepared based on certain principles which includes the following.
OBJECTIVITY, MATERIALITY, CONSISTENCY AND PRUDENCE. All public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP which regulates Their Financial statement and reports.
Amount = Principal ( 1 + interest rate) ^ years
$1000 = $600 ( 1 + .07 ) ^ years
$1000 / $600 = 1.07 ^ years
1.66667 = 1.07 ^ years
years = 8
I do believe your answer would be true.
Answer:
Karen must recognize income of $20,000 in 2019 and $500 in 2020
Explanation:
Accrual basis of accounting states that income must be recognized in the period when it is earned and expenses must also be recognized when it is incurred.
Therefore, since the goods was sold in December 2019 and $500 interest was paid with the principal in April 2020, Karen must recognize income of $20,000 in 2019 and $500 in 2020.
