Answer:
a) dollar amount of the gross profit = 17000
b) dollar amount of the income from operations = 11700
c) dollar amount of the income before income tax = 11900
d) dollar amount of the net income = 8400
Explanation:
(a) Gross profit:
= Sales - Cost of goods sold
= 50,000 - 33,000
= $17,000
(b) Income from operation:
= Gross profit - Bad debt expenses - other operating expenses - Selling and administrative expenses
= $17,000 - $100 - $500 - $4,700
= $11,700
(c) Income before income tax:
= Income from operation + Interest Income and Other Non-operating Revenues
= $11,700 + $200
= $11,900
(d) Net income:
= Income before income tax - Income tax
= $11,900 - $3,500
= $8,400
Answer:
they are set by organisations to managers
Answer:
See below
Explanation:
Given the information above, first we need to compute ending balance of account receivables.
Ending balance of account receivables = Beginning balance + Credit sales - Customer's account collected - Write off amount
= $125,000 + $1,400,000 - $1,350,000 - $0
= $175,000
The year end balance in the allowance for uncollectible account would be
= $175,000 × 10%
= $17,500
Now, the bad debt expense
= Year end balance of allowance for uncollectible account - Beginning balance of allowance for doubtful accounts + Written off
= $17,500 - $15,000 + $0
= $2,500
Not sure but because I don’t know your answer right now I’ll make sure to know it next time.
Answer:
The appropriate approach is "Developing strategic plan
".
Explanation:
- Knowing what it does and reevaluating it to ensure that it is the leading northern star for certain activities seems to be the secret to creating a successful strategic planning strategy.
- This strategy includes defining the intent, strategies, and procedures of an organization which would be used to achieve those objectives. As such, this strategy seems to be an important aspect of the operation of an organization, even though it is necessary to undertake the process of designing the schedule with serious thought and thoroughness.
