Answer:
Cash payments for income tax = $165000
so correct option is C. 165,000
Explanation:
given data
Income tax = $175,000
beginning tax payable = $30,000
end of the year tax payable = $40,000
to find out
Cash payments for income tax reported on the statement of cash flows
solution
we get here Cash payments for income tax that is express as
Cash payments for income tax = Income tax + beginning tax payable - end of the year tax payable ..............................1
put here value we get
Cash payments for income tax = $175000 + $30000 - $40000
Cash payments for income tax = $165000
so correct option is C. 165,000
Answer:
Sheridan Company
Income Statement
For the year ended December 31, 202x
Sales revenue $170,400
Cost of goods sold <u>($129,600)</u>
Gross profit $40,800
Period costs <u>($24,000)</u>
Operating income $16,800
cost of goods manufactured 2019 (or 2020, it is the same)= (20 x $4,500) + $18,000 = $108,000 / 20 = $5,400 per unit
COGS 2020 = 24 x $5,400 = $129,600
sales revenue = 24 x $7,100 = $170,400
Answer:
Equilibrium is the point of the interaction between the demand and supply curves.
The given graph given from the question is attached below (Image 1-2)
The solution is attached in image 3-4
The contradiction can be explained by the substitutability between Jimmy Choo shoes and other shoes.
Substitutability is the ability of goods or services to be replaced by another good or services to be replaced by another good or service in use or consumption. Substitute goods are goods which, as a result of changed conditions, may replace each other in use. For example in this case, jimmy choo faces other competitors who have substitute shoes.
Answer:
1.5
Elastic
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.
Income elasticity of demand = percentage change in quantity demanded / percentage change in income.
6 / 4 = 1.5
The income elasticity of demand is elastic
I hope my answer helps you
