Answer:
c. credit to notes payable
Explanation:
Based on the information given we were told that the Equipment which cost the amount of $16000 was purchased by paying the amount of $4000 as cash which means that if the company sign a NOTE PAYABLE for the remainder. The journal entry should include a: CREDIT TO NOTES PAYABLE
Answer:
D £165,000
Explanation:
The computation of gross profit for the year using the first in first out (FIFO) method of inventory valuation is shown below:-
As we know that
Gross profit = Sales - the cost of goods sold
where
Sales is
= 500 units × £550
= £275,000
And, the cost of goods sold is
= 200 units × £250 + 300 units × £200
= £50,000 + £60,000
= £110,000
We considered only 500 units as these sold units are sold
And, this is a first in first out method so we pick the first date units only
So, the gross profit is
= £275,000 - £110,000
= £165,000
The goal of a country with a healthy economy is to have cyclical unemployment equal to zero.
An economy is the area of production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
The economy is the system in which goods are produced and exchanged. Without a viable economy, the nation will collapse. There are three main types of economies: free market, command economy, and mixed economy.
An example in the economy is the US stock market system.
Learn more about economy here:brainly.com/question/1106682
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The logical transition would be something on the lines of 'so instead' or 'therefore'
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Fixed costs:
Occupancy costs $ 3,160
Salaries 3,640
Other 1,200
Total=
Variable costs (including the cost of paint) $ 6 per gallon
Selling price= $10 per gallon sold
To calculate the operating income we need to use the following formula:
Income= Number of units* selling price - variable cost - fixed costs
Q= 2,200
Income= 2,200*10 - 2,200*6 - 8,000= $800
Q= 2,600
Income= 2,600*10 - 2,600*6 - 8,000= $2,400
