Answer:
(q2 - q1)
Explanation:
I have uploaded the picture the question refers to below.
We can see that under a price ceiling of $0, the quantity of kidneys supplied is Q1, and if the price ceiling is removed, and the market is allowed to reach equilibrium, the new quantity of kidneys supplied is Q2, so the increase in the supply of transplanted kidneys can be found by the formula (q2 - q1)
Answer:
Units sold= 63,465 units
Cost of goods sold= $114,237,000
Explanation:
Giving the following information:
Allyson manufactured 68,500 jet skis. Finished goods inventory had the following units:
January 1: 14,385
December 31: 19,420
First, we need to calculate the number of units sold:
Units sold= production of the period + beginning inventory - ending inventory
Units sold= 68,500 + 14,385 - 19,420= 63,465 units
Cost of goods sold= 63,465*1,800= $114,237,000
Answer:
(B) False
Explanation:
As we know that
Net income = Total revenues - total expenses
The main difference between the single - step income statement and the multi-step income statement due to classifications
In the single - step income statement, we normally
Revenues
Total revenues (A)
Expenses
Total expenses (B)
Net income (A-B)
while in multi-step income statement,
Sales revenue
Less: Cost of goods sold
Gross profit
Less: Operating expenses
General and administrative expenses
Depreciation expense -
Profit before tax
Less: income tax
Net income
So in both the cases, the amount of the net income is equal.
I think that Tricia should record the action by entering it in, in a log/journal system or keep her recite.
Answer:
D. Worksheet is a tool used in preparing adjusting entries and the financial statements, and the use of worksheet is optional
Explanation:
The correct option D because worksheet is used to adjust value and prepare the financial statements and it is not mandatory to use.
The post-closing trial balance might show that accounting equation is balanced but not every time. It only ensure the total of debits balances and total of credits balances are equal. All transaction might not correctly journalized.
The accounting cycle starts with analyzing the business transactions and ends with the preparation of a Financial Statements.
Property, Plant and Equipment are our physical, tangible and long term assets which include all land, office, building, Machinery, equipment and vehicles.
