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4 years ago

Given the data below for a firm in its first year of operation, determine net income under the accrual

Business

1 answer:

Lostsunrise [7]4 years ago

6 0

Answer:

correct option is a. $11,750

Explanation:

given data

Revenue recognized = $19,000

Accounts receivable = 3,000

Expenses incurred = 7,250

Accounts payable = 750

Supplies purchased = 1,800

solution

we get here net income that is express as here

Net Income = Revenue recognized - Expenses incurred .........................1

put here value and we will get net income

Net Income = $19000 - $7250

Net Income = $11750

so here correct option is a. $11,750

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4 years ago

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3 years ago

When workers stop working until management meets certain conditions, the event is called a _______?

TiliK225 [7]

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3 years ago

Cycles de Oro produces 120,000 high-tek bikes a year and orders the brake assembly from IKON for $15.40 each. The order cost is

Ket [755]

Answer:

$3,412

Explanation:

The computation of the economic order quantity is shown below:

= $\sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}$

= $\sqrt{\frac{2\times \text{120,000}\times \text{\$84}}{\text{\$2.31}}}$

= 2,954 units

The carrying cost is

= $15.40 × 15%

= $2.31

The number of orders would be equal to

= Annual demand ÷ economic order quantity

= 120,000 ÷ 2,954 units

= 40.62 orders

Now The total cost of ordering cost is

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3 years ago

Fly-By-Night Insurance Company had much larger losses than forecast. The company did not charge adequate premiums nor did the co

Reika [66]

Answer: (A) Guaranty fund

Explanation:

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The guaranty funds is typically used by the administrator for the purpose of protecting the policyholder in the insurance firm.

Therefore, Option (A) is correct answer.

7 0

3 years ago