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sp2606 [1]
3 years ago
11

jim owns a small business. there was a loss of $26 on thursday and a loss of $11 on friday. on saturday there was a loss of $9,

and on sunday there was a profit of $13. find the total profit or loss for the 4 days
Business
1 answer:
ArbitrLikvidat [17]3 years ago
4 0

Answer:

Hi:)

Explanation:

26+11+9=46

13-46=-33

Total loss was $33 over 4 days

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Testbank Multiple Choice Question 59 Incorrect answer. Your answer is incorrect. Try again. Blossom Co. at the end of 2020, its
creativ13 [48]

Answer:

$2,616,000

Explanation:

Deferred tax liability part of the depreciation expenses that is deducted in the reconciliation. The deferred tax liability to be recognized can therefore be estimated as follows:

Deferred tax liability = $6,540,000 × 40% = $2,616,000

Therefore,  the deferred tax asset to be recognized is $2,616,000 .

3 0
4 years ago
ABC uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retai
Licemer1 [7]

Answer:Ending Inventory at Cost= $981,248.40

Explanation:

                                     Cost                      Retail

Beginning inventory  $393,500         $594,000

purchases                      $3,408,000      $5,193,600                

freight in                        $159,500,

net markups                                                     $414,000

Total                          $3,961,000                     $6,201,600

Sales                                                 $4,666,000

Ending Inventory at Retail:=(Beginning inventory + purchases +net markups - Sales during the current year

594,000 + $5,193,600   +  $414,000- $4,666,000,  = $1,535,600

Cost to Retail Ratio:( Beginning inventory + purchases+freight in)/ (Beginning inventory + purchases +net markups )

=($393,500 + $3,408,000 +$159,500,) ÷ (594,000 + $5,193,600   +  $414,000) =$3,961,000/$6, 201, 600= 0.638= 0.639

Ending Inventory at Cost:   Ending Inventory at Retail x Cost to Retail Ratio

$1,535,600 x 0.639 = $981,248.40

8 0
3 years ago
Kim works for a clothing manufacturer as a dress designer. She travels to New York City to attend five days of fashion shows and
Anuta_ua [19.1K]

Answer and Explanation:

a. The computation of the amount deducted as if there is no reimbursement is

= Airfare charges + lodging for 5 days + meals for 5 days at 50% limit + full airport transportation

= $1,500 + $1,920 × 5 days ÷ 8 days + $1,440 × 5 days ÷ 8 days × 50% + $120

= $1,500 + $1,200 + $450 + $120

= $3,270

The unreimbursement travel expenses for an employee is 2% of adjusted gross income

b. The tax treatment in case of the independent contractor

= Airfare charges + lodging for 5 days + meals for 5 days at 50% limit + full airport transportation

= $1,500 + $1,920 × 5 days ÷ 8 days + $1,440 × 5 days ÷ 8 days × 50% + $120

= $1,500 + $1,200 + $450 + $120

= $3,270

It would remain the same in case of the independent contractor also.

3 0
3 years ago
Suppose an economy produces only burgers and bags of fries. In 2010, 4000 burgers are sold at $3 each and 6000 bags of fires are
sergejj [24]

Answer:

Option (C) is correct.

Explanation:

Nominal GDP:

= (No. of burgers sold × Selling price of each) + (No. of fries sold × Selling price of each)

= (4000 × 3) + (6000 × 1.5)

= 12,000 + 9,000

= $21,000

Real GDP (in 2008 prices)

= (No. of burgers sold × Selling price of each) + (No. of fries sold × Selling price of each)

= (4,000 × $2.50) + (6000 × $2)

= 10,000 + 12,000

= $22,000

GDP deflator:

= (Nominal GDP ÷ Real GDP) × 100

=  (21000 ÷ 22000) × 100

= 95.45

8 0
4 years ago
Suppose, you own a screen-printing business and you enter into a contract with a local school to print 50 orange t-shirts with t
LUCKY_DIMON [66]

Answer: $500

Explanation:

Based on the scenario in the question, there's a breach of contract as the shirts aren't delivered and there are 50 t-shirts which cost $10 each that no one law is willing to buy because it has a school name and their mascot on the front.

Here, the maker of the shirt can sue for damages and since there's no resale, the amount to be sued for damages will be the price of each shirt multiplied by the total number of shirt. This will be:

= $10 × 50

= $500

6 0
3 years ago
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