Answer:
Net Income = $5,000
Stakeholder's Equity = $23,000
Explanation:
Net Income
Revenue $14,000
-Expenses <u>$9,000</u>
=Net income $5,000
Assets = $50,000
Liabilities = $27,000
Accounting Equation:
Assets = Stockholder's equity + Liabilities
$50,000 = Stockholder's equity + $27,000
Stockholder's equity = $50,000 - $27,000
Stockholder's equity = $23,000
Net income of Eagle Corp. is $5,000 and Stockholder's equity is $23,000.
Answer:
<em>Answers are explained below in the explanation part.</em>
Explanation:
(a) In 2019, Aurora is required to add $25000 income because this was the amount that was transferred initially to employee from the employer.
(b) In 2020, Aurora can claim a deduction of $2800 (8000*35% = 2800). Now in 2020, Aurora will not be given reduction in taxes as she has claim amount due from taxes which she claimed of the extra taxes charged in year 2019.
Answer:
The sales level in units to achieve the desired profit is 5,200 units.
Explanation:
Fixed cost = $ 3,000
Desired profit = $10,000
Lets the number of units sales is N.
Total variable cost = $2.5*N
Sales revenue = $5*N
Net Profit = Sales revenue – cost of goods sold – operating expenses
$10,000 = ($5*N) – ($2.5*N) - $3,000
($5*N) – ($2.5*N) = $ 10,000 + $ 3,000
$2.5*N = $ 13,000
N = $13,000/$2.5
= 5,200 units
Therefore, The sales level in units to achieve the desired profit is 5,200 units.
Total variable cost at 7100=7100(590730/7000)=599169fixed cost=372750total cost=599169+372750=971919
