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MAXImum [283]
3 years ago
7

If a special sales order is accepted for 5,000 sails at a price of $125 per unit, and fixed costs remain unchanged, what would t

he effect on operating income be
Business
1 answer:
ANEK [815]3 years ago
4 0
<span>If a special sales order is accepted for 5,000 sails at a price of $125 per unit, and fixed costs remain unchanged,the effect on operating income be Increase by $225,000. Since fixed costs remain unchanged, operationg income would increase. If fixed costst remain changed, operationg income would decrease.</span>
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The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales $3,900 Current asse
Ratling [72]

Answer:

$2,896 is needed

Explanation:

external financing needed = net income - working capital needs - capital expenditures + retained earnings

  • net income = $1,560 x 1.2 = $1,872
  • working capital needs = ($4,700 x 1.2) - ($860 x 1.2) = $5,640 - $1,032 = $4,608
  • capital expenditures = fixed assets x 20% = $940
  • retained earnings = $1,560 x 50% = $780

external financing needed = $1,872 - $4,608 - $940 + $780 = -$2,896

7 0
3 years ago
Bushard Company (buyer) and Schmidt, Inc. (seller) engaged in the following transactions during February 2019:
Allisa [31]

Answer:

Bushard Company (buyer) and Schmidt, Inc. (seller)

Journal Entries:

Bushard Company

Feb. 10 Debit Inventory $5,000

Credit Accounts payable (Schmidt, Inc.) $5,000

To record the purchase of goods on account, via Invoice 1980, terms 1/10, n/30.

13 Debit Accounts payable (Schmidt, Inc.) $200

Credit Inventory $200

To record the return of damaged goods and received Credit Memorandum 230.

19 Debit Accounts payable (Schmidt, Inc.) $4,800

Credit Cash $4,752

Credit Cash Discounts $48

To record the payment on account and discounts.

Schmidt, Inc.

Feb. 10 Debit Accounts receivable (Bushard Company) $5,000

Credit Sales revenue $5,000

To record the sale of goods on account, Invoice 1980, terms 1/10, n/30.

13 Debit Sales returns $200

Credit Accounts receivable (Bushard Company) $200

To record the return of damaged, issuing Credit Memorandum 230.

19 Debit Cash $4,752

Debit Cash Discounts $48

Credit Accounts receivable (Bushard Company) $4,800

To record the receipt of cash from customer, including discounts.

Explanation:

a) Data and Analysis:

Bushard Company

Feb. 10 Inventory $5,000 Accounts payable (Schmidt, Inc.) $5,000, Invoice 1980, terms 1/10, n/30.

13 Accounts payable (Schmidt, Inc.) $200 Inventory $200  Credit Memorandum 230, damaged merchandise.

19 Accounts payable (Schmidt, Inc.) $4,800 Cash $4,752 Cash Discounts $48

Schmidt, Inc.

Feb. 10 Accounts receivable (Bushard Company) $5,000 Sales revenue $5,000, Invoice 1980, terms 1/10, n/30.

13 Sales returns $200 Accounts receivable (Bushard Company) $200  Credit Memorandum 230, damaged merchandise.

19 Cash $4,752 Cash Discounts $48 Accounts receivable (Bushard Company) $4,800

7 0
3 years ago
Help ASAP Plz i have 3mins left thx!!!
Viefleur [7K]

1. A) Because you don't want to be stuck living with your parents until you are 30

2. B) Living and educational expenses


Reason:

I took a test very similar to this a few days ago, and I am a straight-A student.

4 0
3 years ago
Read 2 more answers
Which of the following is a major difference between the​ AD-AS model and the dynamic​ AD-AS model? The dynamic​ AD-AS model ass
const2013 [10]

Answer:

D

  • Potential GDP increases​ continually, while the​ AD-AS model assumes the LRAS does not change.

5 0
3 years ago
Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries,
Firdavs [7]

<u>The total amount of deductions Marc and Michelle are going to get is $24750.  </u>

<u>The taxable income of Marc and Michelle is $47750. </u>

Further Explanation:  

Income Tax: It is the additional charge on an individual’s income which he/she needs to pay to the government. The taxable income is calculated by adding all the incomes and deducting all the deductions which an individual can claim on his/her income.  

Compute the total amount of deductions available for Marc and Michelle:  

Total Deduction Available

= Higher of Standard Deduction for MJF and Itemized Deduction + Personal and Dependency  Exemptions  

= Higher of $12600 and $6000 + $12150 ($4050×3)  

= $12600 + $12150  

=$24750.  

<u>Therefore, the total deductions available to Marc and Michelle are $24750. </u>

<u />

Gross Income of Marc and Michelle

= Salary of Marc + Salary of Michelle + Interest Earned on Corporate Bonds  

= $64000 + $12000 + 500  

= $76500.  

Total Taxable Income of Marc and Michelle

= Gross Income – Qualified Moving Expenses – Alimony Paid – Total Deductions  

= $76500 - $2500 - $1500 - $$24750  

= $47750.  

<u>Therefore, the total taxable income of Marc and Michelle is $47750. </u>

<u />

Learn More:  

1.      Learn more about the tax on the profit from selling the fixed assets  

brainly.com/question/2617534  

2.      Learn more about the personal tax  

brainly.com/question/1762937  

3.      Learn more about the role of money  

brainly.com/question/12984919  

Answer details:  

Grade: Senior School  

Subject: Taxation  

Chapter: Income Tax  

Keywords: Taxable income, Marc and Michelle, Deductions, salary income, earned, corporate bond interest, interest on municipal bond, standard deductions, US tax brackets.

4 0
3 years ago
Read 2 more answers
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