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ololo11 [35]
3 years ago
13

Winsted Co. purchased a bond on December 1 of the current year for $ 49 comma 000 and classified the investment as trading. The

market value of the investment at​ year-end is $ 52 comma 000. What value will be reported in net income for the​ adjustment?
A. $( 3 comma 000 )
B. $ 52 comma 000
C. $ 3 comma 000
D. $ 49 comma 000
Business
1 answer:
Anettt [7]3 years ago
4 0

Answer:

Net income = $3000

C. $ 3 comma 000

Explanation:

For a company, net income is the residual amount of earnings after all expenses have been deducted from sales. In short, gross income is an intermediate earnings figure before all expenses are included, and net income is the final amount of profit or loss after all expenses are included.

In this case.. There is only a buy and a sell trade.

Net income= selling price- cost price

Net income= $52000-$49000

Net income = $3000

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notka56 [123]

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<h3>What is a Presentation?</h3>

This refers to the use of diagrams, charts, and tables to present an idea to an audience.

Hence, we can see that The detail you need to add to your next slide should address the issue of questions from the audience.

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4 0
1 year ago
Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require 2.05 feet of leather and
Katarina [22]

Answer:

1. $3.20 x 2.20 = $7.04

2. It will be favorable.

3. It will be unfavorable.

4. Direct material price variance = $22

   Direct material quantity variance = 0.48

Explanation:

1. Standard direct cost per unit=cost of direct materials price x direct material standard quantity per unit.

2. It will be favorable because they expected or had budgeted to pay $3.60 per foot for the material but the actual cost became $3.20. So they  pay $0.40 less than they had expected to pay.

3. It will be unfavorable because they had planed or budgeted for each unit to use 2.05 feet of leather but they ended up needing 2.20 feet of leather per collar so that means they under budgeted by 0.15 feet.

4. Direct material price variance =( $3.60 x 55) less ($3.20x55)=$22

The total amount that was budgeted or expected to be paid is subtracted from the total actual  price that was paid.

Direct material quantity variance = (2.05x$3.20) less (2.20x$3.20)= -0.48

The total direct material quantity that is used is subtracted from the quantity that was expected to be used.

5 0
2 years ago
A decrease in demand for cameras would likely be caused by
nignag [31]
A decrease in demand for cameras would likely be caused by increased abilities in cell phones for filming
3 0
3 years ago
Answer the question on the basis of the given supply and demand data for wheat. Bushels Demanded Per Month Price Per Bushel Bush
Flura [38]

Answer:

C. farmers would not be able to sell all their wheat. 

Explanation:

At a price of $4, quantity supplied exceeds quantity demanded. Quantity supplied is 73 while quantity demanded is 50. There is an excess supply over demand. Therefore, farmers would not be able to sell all their wheat.

Equilibrium price is $2. This is where quantity supplied equals quantity demanded.

I hope my answer helps you

6 0
3 years ago
The value-added is:
kondor19780726 [428]

Answer:

The correct answer is letter "C": sales minus costs of intermediate goods.

Explanation:

Value Added is used to describe the extra something a company does to a product that makes it worth more than the cost of its underlying parts. For economists, value-added is the <em>difference between the gross revenue for an industry</em> (sales) <em>and the sum of the labor, materials, and services </em>(intermediate goods) <em>purchased to produce the goods that generated the revenue.</em>

8 0
3 years ago
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