The Federal Application for Student Aid (FAFSA) form:

Farmers Produce Inc. and Growers Market enter into a contract for the delivery of vegetables. Some of the produce spoils before

Tamiku [17]

Answer:

A. Not fully integrated.

4 0

4 years ago

Brief Exercise 1-1 (Algo) Accrual accounting [LO1-2] Cash flows during the first year of operations for the Harman-Kardon Consul

Morgarella [4.7K]

Answer:

Net Income for the year is $174,000

Explanation:

Net Income Calculation for the year is done below:

<u>Particulars</u> <u>$</u>

Revenues (290,000 + 50,000) 340,000

Less: Rent (30,000 / 2) (15,000)

Less: Salaries (110,000)

Less: Utilities (40,000 + 1,000) (41,000)

Net Income 174,000

Please note the following with regard to the calculation done above:

Revenue includes both the cash collected from customers and cash owed by the customers, which received later on at the end of the year.
Rent has been divided by two, this is due to the fact that calculation of net income is done for the current period so only one year rent is taken.
Utilities include cash paid for utilities and the amount company owed to gas & electric company.

5 0

3 years ago

All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2016, with the exception of income tax

yulyashka [42]

Answer:

The income before tax is $370450, the income tax is $111135 and the net income is $259315.

Explanation:

As the data table is not visible,online a similar question is found for which the data is attached here with.

From the given data

Service Revenue=$943,000

Interest Revenue=$127,1000

Total Revenue=Service Revenue+Interest Revenue=$1070100

Now The expenses are given as

Supplies Expense=$349,200

Repairs and Maintenance Expense =$258,300

Depreciation Expense=$60,350

Rent Expense=$ 31,800

Total Expense=Supplies Expense+Repairs and Maintenance Expense+Depreciation Expense+Rent Expense=$699650

So the income before tax is given as

Income=Total Revenue-Total Expense

Income=$1070100-$699650

Income=$370450

So the income before tax is $370450.

Now the tax is estimated at 30% as given tax rate as

Tax=Rate*Income

Tax=30%*$370450

Tax=$111135

So the income tax is $111135.

Now the Net income is given as

Net Income=Income-Tax

Net Income=$370450-$111135

Net Income=$259315

So the Net Income is $259315.

8 0

4 years ago

Abby consumes only apples. In year1, red apples cost $1 each, green apples cost $2 each, and Abby buys 10 red apples. In year 2,

Hitman42 [59]

Answer:

Part A)

Consumer price index is an amount of the average variation over time in the amounts paid by customers for a market basket of customer goods and services.

CPI= (Updated Cost/Base Period Cost) x 100

For multiple products, we have to ruminate the weights or proportion of expenditure of an item

CPI2= (P2Red xQ1Red) + (P2grn x Q1grn) / (P1Red xQ1Red) + (P1grn x Q1grn)

CPI2= (2 x 10) + (1x0)/ (1x10) + (2x0)

CPI2= 2

Based on the CPI in year 2, prices have doubled.

Part B)

Nominal expenditure is the total worth of outcome produced or expended in each year.

In year 1 and year 2, Abby buys

Year 1= $1 x 10= $10

Year 2= $1 x 10= $10

So, nominal expenditure remains constant at $10.

Part C)

Real expenditure is the quantity consumed or the basket in the current year calculated at the base year price.

Base year prices: Red $1& Green $2

Real expenditure in year 1 = (P1rQ1r) + (P1gQ1g)

=$1x10 + X2x0

= $10

Real expenditure in year 2 = (P1rQ2r) + (P1gQ2g)

= (1x 0) + (2 x 10)

= $20

So, real expenditure has increased from $10 to $20

Part D).

Implicit value deflator in year 1, it is the base year so it will be continuously 1 as the actual and nominal amounts are equal.

Implicit price deflator in year = nominal expenditure/real expenditure

Implicit price deflator in year 1 = 10/10

= 1

Implicit price deflator in year2 = 10/20

= 0.5

Thus, the implicit value deflator proposes that prices have dropped by half. The cause for this is that the deflator evaluations how much Abby standards her appeals using prices dominant in year 1.

We can perceive from this perception that the green apples are appreciated more .And when Abby consumes more green apples in year 2, it appears that her consumption has augmented as the price deflator standards green apples more than the red apples.

Part E)

Abby considers that red apples and green apples as perfect alternatives, then the cost of living in this budget has not changed in both year it costs $10 to eat 10 apples.

Permitting to the CPl, however, the cost of living has gathered. This is because it only takes into justification the detail that the red apple price has gathered; the CPl overlooks the fall in the price of green apples as they were not in the consumption package in year 1.

In difference to the CPI, the implicit value deflator approximations the cost of living has shared.

CPI is calculated based on the Laspreyers Index method, where the amount in the numerator is the amount in the base year. Where as in the Passche price index, the numerator is the Recent price calculated for current capacity of consumption.

The Laspeyres index inclines to exaggerate rise (in a cost of living framework), while the Paasche index tends to understate it, because the indices do not account for the fact that consumers typically react to value variations by changing the amounts that they buy. For example, if prices go up for good X then, at ceteris paribus, amounts of that good should go downcast.

7 0

3 years ago

The ninth worker adds 25 units to total production. The tenth worker adds 22 units to total production. The company has:________

Anit [1.1K]

Answer:

Diminishing returns

Explanation:

A firm producing widgets (term for a generic good) has two factors of production. The factory and labour. The capacity of the factory is fixed, and the marginal cost (MC) of labour is the same (i.e. each new worker will cost the same).

There are two stages to how MC is affected.

1. Increasing returns (MC goes down)

As output begins to increase, the large manufacturing processes/equipment still not fully utilised means and the additional labour can be productive as they can always use the equipment to its full potential due to which the MC is relatively low.

2. Constant returns (MC goes sideward)

At this point, labour is producing its optimal output per unit. The marginal cost is therefore at its lowest.

3. Diminishing returns (MC goes up)

The more labour that is employed, the less marginal output it is able to produce. This could be a result of too many people to efficiently operate/ rotate use of machinery. The cost increases more and more to generate an extra unit of output, because of labour exhibiting diminishing returns in the short run.

In this question, the 10th worker has added 22 units which is 3 units less than the number of units added by the 9th worker, thus the company is producing less marginal output for each worker. so based on the above discussion it can be concluded that the company has Diminishing returns.

7 0

4 years ago