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Phoenix [80]
3 years ago
12

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

Business
1 answer:
Lostsunrise [7]3 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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Which of the following items is not a temporary difference? A. Vacation pay accrued for tax purposes in a prior period is deduct
Black_prince [1.1K]

Answer: the correct answer is B. Tax depreciation for the period exceeds book depreciation.

3 0
3 years ago
Question 12 Which answer illustrates "compound interest"?
Ber [7]

Answer:D

Explanation:

7 0
3 years ago
You are the manager of a firm that produces products X and Y at zero cost. You know that different types of consumers value your
arlik [135]

Answer and Explanation:

a)

If you charge $40 for X then everyone will buy as everyone is willing to pay atleast $40. this means all three groups buy that is 3*1000 buyers.So profit from X = 3000*40= $120,000

And since everyone is willing to willing to pay atleast $60 for Y again all three groups will buy so profit from Y =3000*60=$180,000

profits=$300,000

b)

If you charge $90 and $160 for X and Y respectively you will have only 1000 buyers for each product as others are unwilling to pay this much.

So profits = 1000*90 + 1000*160=$250,000

c)

for a bundle of X and Y buyers are willing to pay a total of $150, $210 and $200 across the three categories.

So everyone will buy a bundle of 1 X and 1 Y.

profits = 150*3000= $450,000

d)

If you charge $210 only the second will buy as they are willing to pay that much so profits =1000*210=$210,000

Also by selling X at $90 group 1 will buy X; profits=1000*90=$90,000

and by selling Y at $160 group 3 will buy Y; profits=1000*160=$160,000

total profits =$460,000

8 0
3 years ago
Harry Corporation's common stock currently sells for $180 per share. Harry just paid a dividend of $10.18 and dividends are expe
Anastasy [175]

Answer:

$190.64

Explanation:

Data provided in the question:

Current selling price of shares = $180 per share

Dividend paid = $10.18

Expected growth rate, g = 6% = 0.06

Required rate of return, r = 12% = 0.12

Now,

The dividend for the following year to the next year, D1 = $10.18 × (1 + g)ⁿ

here, n = 2 ( i.e the duration of next year and the following year )

thus,

D1 = $10.18 × (1 + 0.06)²

or

D1 = $11.438

Therefore,

Price of stock one year from now = \frac{\textup{D1}}{\textup{(r-g)}}

= \frac{\textup{11.438}}{\textup{0.12-0.06}}

= 190.637 ≈ $190.64

7 0
3 years ago
Punkeytown carries no insurance for possible claims and, as of January 1, 2019 (the start of its fiscal year), Punkeytown had no
Simora [160]

Answer: Will report a liability of $5000 for judgement debt and a claim of $11,000

Explanation:

The liability refers to the obligations of the firm which are certain is going to make payment as compensation.

The $5000 liability, although payment has not been made it's already Incurred by the company under the acural concept.

The claim of $11,000 is only probable and not certain even though amount and time of execution can be estimated, since it's not certain it will only be recorded as a claim in the goverments fund balance sheet.

4 0
3 years ago
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