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3 years ago

The account balances and income statement of Winfrey Towing Service on June 30, 2018, follow:

Business

1 answer:

Alina [70]3 years ago

7 0

Answer:

1. WINFREY TOWING SERVICE

Statement of Comprehensive Income

Service revenue 10,800

Rent expense (550)

Salaries expense (1,900)

Dividends paid (4,000)

Net income 4,350

Statement of Retained Earnings

Retained earnings b/f 3,900

Add: Net income 4,350

Retained earnings c/f 8,250

2. Statement of retained earnings report changes in retained earnings of a company in a given accounting year.

Explanation:

In this question, we need to obtain the net income of the company, which is service revenue minus expenses minus dividend. Then, the statement of retained earnings is prepared by taking cognisance of the retained earnings brought forward and add the net income for the year.

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Jeff Co. sells its giant cheese wheels for $36 per wheel. The contribution margin ratio is 75% and total fixed costs are $270,00

Damm [24]

Answer:

Level of sales in dollars in order to generate a profit of $54,000 Fixed cost + Target profit/Contribution per unit $270,000 + $54,0000/0.75

= $432,000

Number of units to be sold

= Level of sales/Selling price

= $432,000/$36

= 12,000 units

The correct answer is A

Explanation:

In this case, we need to calculate level of sales in dollars, which is fixed cost plus target profit divided by contribution margin ratio. Then, we will calculate no of units to be sold, which is the level of sales divided by selling price.

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3 years ago

When did Toronto pearsonAirport(Canada) start using technology or scanner

mote1985 [20]

Answer:

Canada's busiest airport will soon start to use artificial intelligence- powered technology to detect weapons.
The technology can detect both metallic and non-metallic weapons ranging from guns and knives to explosives, according to Liberty Defense Holdings Ltd., a Vancouver-based company which first marketed the technology. Known as Hex wave, the technology works by capturing radar images, then using artificial intelligence to analyze them for concealed weapons in bags or under clothing.
Liberty's CEO, Bill Riker explained, "radar essentially is emitting this form of energy, it's reflecting off a person and it's identifying any items on a person's body that don't belong on a body."
The technology will start getting deployed at Pearson in the Spring of 2020 in a bid to boost security, according to the Greater Toronto Airports Authority, which runs Pearson.

7 0

3 years ago

Walter opens a motorcycle repair shop where he will not only repair motorcycles, but will also offer custom paint jobs, accessor

beks73 [17]

Make a profit...............

5 0

2 years ago

(Consider This) In 1975, McDonald's introduced its Egg McMuffin breakfast sandwich, which remains popular and profitable today.

Masteriza [31]

Answer:

C. consumer sovereignty.

Explanation:

Consumer sovereignty in economics imply that consumers have the power to determine what will be produced. They do this by demanding for products they want, increasing its supply and demanding less of products they do not want which reduces its supply.

I hope my answer helps you

7 0

3 years ago

The next dividend payment by Dizzle, Inc., will be $2.48 per share. The dividends are anticipated to maintain a growth rate of 4

Juliette [100K]

Answer:

Cost of equity = 10.7%

Explanation:

According to the dividend valuation, the value of a stock is the present value of expected future dividends discounted at the required rate of return.

The model can me modified to determined the cost of equity as follows:

Cost of equity = D/P + g

d- dividend payable next period, p- price of stock ,, - g- growth rate

D- 4.5%, p- $2.48 , g -4.5%

Cost of equity = (2.48 /39.85) + 0.045

= 10.7%

6 0

3 years ago