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ozzi
3 years ago
7

The following is selected information from Pina Colada Corp. for the fiscal year ending October 31, 2022. Cash received from cus

tomers $330000 Revenue recognized 484000 Cash paid for expenses 187000 Cash paid for computers on November 1, 2021 that will be used for 3 years 52800 Expenses incurred including any depreciation 237600 Proceeds from a bank loan, part of which was used to pay for the computers 110000 Based on the accrual basis of accounting, what is Pina Colada's net income for the year ending October 31, 2022?
Business
1 answer:
natulia [17]3 years ago
7 0

Answer:

Pina Colada's net income for the year ending October 31, 2022 is  $246,400.

Explanation:

Net income = Revenue recognized - Expenses incurred including depreciation

                    = $484,000  - $237,600

                    = $246,400

Therefore, Pina Colada's net income for the year ending October 31, 2022 is  $246,400.

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What is the fundamental accounting equation?
Virty [35]

Answer:

Explanation:

Asset=Liabilities + Equities

5 0
3 years ago
A restaurant sells pizza at a rate of $14.57/slice. Expenses for the restaurant include raw material for pizza at $9.57 per slic
natka813 [3]

Answer:

they should sell 16 pizzas

Explanation:

Total expense money :  9.57+168+62 =239.57

239.57 / 14.57 = 16.44 ≈ 16.4 and if we round up the decimal side the answer will be 16. Therefore the restaurant has to sell 16 pizzas

Hope i helped in some way!

3 0
3 years ago
Competition is good for customers because it gives them more options.
OverLord2011 [107]

Answer:

The correct answer is A. It is true that competition is good for customers because it gives them more options.

Explanation:

In economics, competition refers to the pursuit of a goal by at least two economic subjects, with the higher degree of goal achievement of one actor causing a lower degree of goal achievement by the other.

Competition requires at least one actor with an inferior degree of target achievement and thus works against certain social principles such as equality, as it requires a privileged position of those who have achieved the higher degree of target achievement.

As for consumers, the bidding between companies through competition is beneficial. This is because, to capture the largest proportion of the market, companies make different offers, promotions and other proposals that imply benefits for consumers, who can choose the best proposal that best suits their economic possibilities and their tastes.

4 0
3 years ago
Felinas Inc. produces floor mats for cars and trucks. The owner, Kenneth Felinas, asked you to assist him in estimating his main
Paul [167]

Answer:

D. $162

Explanation:

We know,

Using high-low method, variable cost per unit = (Highest maintenance expense - Lowest maintenance expense) / (Highest machine hours - Lowest machine hours)

Given,

Highest maintenance expense = $4,360

Lowest maintenance expense = $2,950

Highest machine hours = 2,500 hours

Lowest machine hours = 1,660 hours

Therefore,

Variable cost per unit = $(4360 - 2950)/(2500 - 1660)

Variable cost per unit = 1410/840 = 1.68

Total Fixed cost using lowest machine hours =

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= 2,950 - (1.68*1,660)

= $162

6 0
3 years ago
PLEASE HELP ! Thanks
kicyunya [14]
They would need to know about the intellectual property law because they could accidentally steal a design for a logo that got stuck in their head from a well established company, and get sued, therefore hurting the business.


to guarantee minimum standards e.g. of consumer protection, health and safety at work etc

to protect the weak against the strong e.g. small companies against larger companies or groups of companies that work together to fix prices

to provide benchmarks of good practice for business to set as minimum standards

to provide an appropriate framework for ethical business behaviour

to create standards where none exist.


Administrative law is a branch of public law that is concerned with the procedures, rules, and regulations of a number of governmental agencies. Administrative law specifically deals with the such administrative agencies’ decision-making capabilities, as they carry out laws passed by state and federal legislatures. An example of administrative law is the regulation and operation of the Social Security Administration, and the administration of benefits to the people.  To explore this concept, consider the following administrative law definition.



Clients can owe businesses payment for services, and businesses have financial obligations they need to pay.




6 0
3 years ago
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