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Lesechka [4]
3 years ago
15

Goodman Auto started the year with total assets of $300,000 and total liabilities of $175,000. During the year, the business rec

orded $475,000 in revenues, $275,000 in expenses, and dividends of $30,000. The net income reported by Goodman Auto for the year was,$475,000 - $275,000 = _______.
Business
1 answer:
kow [346]3 years ago
5 0

Answer:

The answer is $ 200,000

Explanation:

The net income reported by Goodman Auto for the year was,$475,000 - $275,000 = $ 200,000.

The net income is difference between revenue earned by the company and expenses incurred in order to earn this revenue. In the problem goodman auto revenue is equal to 475,000 and expense are 275,000. So the difference between 475,000 and 275,000 will be reported as net income.

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Some major considerations when deciding on housing are needs and?
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SmartSC purchases from Supplier A are priced at $30 each and used at the rate of 600 units per month. Components purchased from
artcher [175]

Answer:

SmartSC

The economic order quantity (EOQ) for Supplier A is:

= c) 253

Explanation:

a) Data and Calculations:

                               Supplier A       Supplier B

Price per unit                $30                 $6

Annual unit demand 7,200            3,000

Annual holding cost      $9                 $1.80 ($6 * 30%)

Ordering cost              $40

Economic order quantity for Supplier A = square root of (2 * D * S)/H

where D = Annual demand in units

S = Ordering cost per order

H = Holding cost per unit

= square root of  (2 * 7,200 * $40)/$9

= square root of 64,000

= 253

7 0
3 years ago
Javier worked 50 hours last week. He earns $9 and hour. How much did he earned before taxes? (gross pay)
Naddik [55]

Answer:

=$450

Explanation:

Javier pay per hour is $9.

Hours worked  in the week : 50

Gross pay will be hours worked multiplied by hourly rate

=50 x $9

=$450

Gross pay = $450

3 0
3 years ago
Assume that, compared with other nations, the country of New Bispo has a higher opportunity cost in the production of automobile
maksim [4K]

Solution :

Statement a is TRUE.

-- As without trade, a country will consume what the country produces in its country. So the country, New Bispo will have to produce their own television and automobiles as they are operating under autarky.

Statement b is TRUE.

-- The country New Bispo has a comparative advantage than the other countries in production of television. Specialization as well as trade makes the country to exchange its best products(television) for some other goods(i.e. automobiles) and benefited from it.

Statement c is FALSE.

-- The statement is false as the when a country produces more of products in which it specializes and also has a lower opportunity cost, it provides for the maximum benefit. So by using specialization, the country can concentrate on production of a single item at a time that it can do its best.

Statement d is TRUE.

-- The opportunity cost for the production of automobiles is high for New Bispo, therefore, it indicates that a country will produce more of automobiles but it has to lower down its television production.

Statement e is FALSE.

-- The statement is false as the points that lies outside the curve can be attained with the resources and technology that are already existing if the trade occurs with the outside producer. The trade makes it enable to consume outside the production possibility frontier. So with trade and specialization, New Bispo are able to consume automobiles as well as television as they can operate beyond the PPC frontier.

6 0
2 years ago
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