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3 years ago

Crane Company had the following account balances:

Business

1 answer:

aivan3 [116]3 years ago

4 0

Answer:

The correct answer is $479,500.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the total revenue by using following formula:

Total revenue = Net sale + Dividend revenue + Rent revenue

Where, Net sales = Sales revenue - Sales return

= $445,000 - $34,000 = $411,000

By putting the value in the formula, we get

Total revenue = $411,000 + $10,500 + $58,000

= $479,500

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1. What is capital ?

Vlad1618 [11]

Capital is a different way to call Money

6 0

4 years ago

Which of the following are correct descriptions of large corporations? (You may select more than one answer. Single click the bo

erik [133]

Answer:

The corporation survives even if managers are dismissed.

Shareholders can sell their holdings without disrupting the business.

Explanation:

Large corporations are not as easy to dissolve as other types of companies because they have other resources that are able to keep them going if they lose some. One of those resources could be a manager. Should a manager be dismissed, the corporation will survive and simply replaced the dismissed manager.

Also with such corporations, the shareholders can simply sell their shares and the business's operation will not be disrupted as the shareholders do not have any direct say over the day to day running of the business.

4 0

3 years ago

Space travel is expensive! For their trip to the Moon, the Apollo astronauts' living quarters were only 213 cubic feet (that's s

RSB [31]

Answer:

5341288

Explanation:

Data provided in the question:

Volume of the living quarters = 213 cubic feet

Now,

The dimensions of the US dollar bills are

width = 2.61 inches

Length = 6.14 inches

Thickness = 0.0043 inches

Thus,

Volume of a single dollar bill = 2.61 × 6.14 × 0.0043

= 0.06890922 cubic inches

Also,

Volume of quarter in cubic inches = 213 × 12³

[ ∵ 1 ft = 12 inches ; 1 ft³ = 12³ cubic inches]

Thus,

Volume of quarter in cubic inches = 368064 cubic inches.

Thus,

Number of dollar bills that can fit in there

= [ Volume of quarter in cubic inches ] ÷ Volume of a single dollar bill

= 368064 ÷ 0.06890922

= 5341288.15 ≈ 5341288

8 0

3 years ago

Calculate the EBIT for a firm with $4 million total revenues, $3.5 million cost of goods sold, $500,000 depreciation expense, an

Vitek1552 [10]

Answer:

Explanation:

Given that,

Total revenues = $4,000,000

Cost of goods sold = $3,500,000

Depreciation expense = $500,000

Interest expense = $120,000

Earnings before interest and taxes (EBIT):

= Total revenues - Cost of goods sold - Depreciation expense

= $4,000,000 - $3,500,000 - $500,000

= $0

Therefore, the EBIT for a firm is $0.

8 0

3 years ago

Pharoah Company has accumulated the following budget data for the year 2020. 1. Sales: 31,410 units, unit selling price $89. 2.

Rama09 [41]

Answer:

<u>Computation of cost of goods sold for 2020</u>

Direct materials(1 pound× $5 ) $5

Direct labor(3 hours × $12) $36

manufacturing overhead ($8 × 3 hours) $24

Total unit cost $65

<u>Budgeted multiple-step income statement for 2020</u>

Sales ( 31,410 units × $89) 2,795,490

Less Cost of Sales (31,410 units × $65) (2,041,650)

Gross Profit 753,840

Less Operating Expenses :

Selling and administrative expenses: (170,000)

Operating Income 583,840

Less Non - Operating Expenses

Interest expense (30,000)

Income before income taxes 553,840

Income tax (553,840×30%) (166,152)

Income After income taxes 387,688

Explanation:

Cost of Sales = all manufacturing costs

Multi step - Income Statement separates income generated from Primary Activities of the Company (Operating Income) with Income generated from Secondary Activities of the Company (Non-Operating Income)

6 0

3 years ago