Answer:
a) net income will increase
Explanation:
The business must record the Account Receivable (Debit – Asset increased) against de income for the Revenue (Credit – Equity increased). Then will record the loss for the Cost of Sold Goods (Debit – Equity decreased) against the exit of the sold goods (Credit – Asset – decreased). As the income (Revenue) will be larger than the loss (Cost of Sold Goods), the Net Income will be increased.
Answer:
Smith will report an investment income of $56,000 in its income statement.
Explanation:
Based on the information given we were told that Smith made a purchased of the amount of $522,000 of Jones shares in which as of December 31, 2021, the Jones shares also had a fair value of the amount of $578,000 this means that Smith will report an investment income of $56,000 ($578,000-$522,000) in its income statement.
Answer:
Explanation:
Incremental cost
Inspection cost prior to shipment - 45,000
Upgrading of equipment - 400,000
Incremental benefit - 25,000
The incremental cost of improving quality far outweigh the incremental benefit
Even though loss of profit was avoided by retaining existing customers , yet the quality improvement program dies not guarantee additional customers and profit to write off or reduce the incremental cost .
Therefor , it is not advisable fort the company to go on with the quality program.
Answer:
The answer is $160,000
Explanation:
Please refer to the attached file
Answer:
The correct answer is letter "C": General Agreement on Tariffs and Trade (GATT).
Explanation:
The General Agreement on Tariffs and Trade (<em>GATT</em>) is a treaty effective from 1948 that pursues fairness when it comes to international trade by reducing tariffs and that promotes equal treatment among countries. The GATT was replaced by the World Trade Organization (<em>WTO</em>) in 1995 under the same objectives but with more participation of the member nations.
