Answer:
In 2022, Rigs-by gross profit=$682,500
Explanation:
Profit=Price at which land is sold- Actual price of land
Profit=$5,000,000- $3,500,000
Profit=$1,500,000
Gross Profit=Profit/Price at which land is sold
Gross Profit=$1,500,000/$5,000,000
Gross Profit=0.3=30%
In 2022, Rigs-by gross profit=
In 2022, Rigs-by gross profit=
In 2022, Rigs-by gross profit=$682,500
Answer:
Explanation:
The price system and I assume you mean the free price system, is very important in an economy. There are advantages and disadvantages to it.
In a free price system, the forces of supply and demand determine prices. The most efficient use of resources is when supply matches demand. Supply and demand are equal when the market determines the price at which a number of goods supplied equals a number of goods demanded. The price system also allows us to buy many products. Manufacturers are willing to make products when they can make money. When supply equals demand, businesses are maximizing the profit potential at the given price level.
One disadvantage of the price system is that for certain products, the costs of setting up the industry are so high, there is only one seller of the product. In cases like these, such as with the electric and the natural gas companies, or with the water companies, without government regulation, prices could be very expensive since they are the only provider of the product. In these cases, the government needs to regulate these industries because the price system would lead to very high prices for water, electricity, and natural gas. Since the setup costs for these industries are so high, there is no competition for these companies. This could cause consumers to make some very difficult choices if the prices are regulated by the government.
The answer is true. Temporary accounts are transient accounts that open with no balance at the beginning of each accounting period and close at the conclusion in order to preserve a record of accounting activity during that period.
They consist of the spending accounts, income statements, and income summary accounts. Permanent accounts include cash accounts such as accounts receivable and accounts payable. The terms asset, liability, equity, inventory, balance investments, etc. are other examples of permanent accounts. An account that shuts at the conclusion of each accounting period and has no balance when a new period starts is referred to as a transitory account.
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Answer:
D.) $75,000
Explanation:
Amount of revenue recognized = Cost incurred to date / Estimated total cost * Contract price
Cost incurred to date=60,000
Estimated total cost=400,000
Contract price=500,000
Amount of revenue recognized= 60,000/400,000 * 500,000
=0-15 * 500,000
=$75,000
Amount of revenue recognized in year 1 is $75,000
Answer:
She is better off by $40,
Please kindly go through the explanation section for rest of the answers.
Explanation:
From the Question,
Grocery saving = 40%
Laptop saving = 2.5%
Absolute saving in grocery = $4
Absolute saving in Laptop =$10
Yes he should sacrifice 20 mins to save $10 since he does the same for less savings
Second case:
Since Ted is depositing money for only 6 months at 10% interest rate, he is giving up half his annual interest of (0.1*750)/2 = $37.5
Third case:
Interest accrued on student loan = 0.07*2000 = $140
Interest on credit card = $75 + (0.07*1500) = $180
She is better off by $40.
