1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olganol [36]
3 years ago
12

Pat's Custom Tuxedo Shop maintains its records on the cash basis. During this past year Pat's collected $43,300 in tailoring fee

s, and paid $12,300 in expenses. Depreciation expense totaled $2,500. Accounts receivable increased $1,050, supplies increased $4,300, and accrued liabilities increased $2,350. Pat's accrual-basis net income was:
Business
1 answer:
Luba_88 [7]3 years ago
8 0

Answer:

net income = $31,500

Explanation:

given data

collect tailoring fees = $43,300

paid expenses = $12,300

Depreciation expense=  $2,500

Accounts receivable =  $1,050

supplies increased = $4,300

liabilities increased = $2,350

to find out

accrual basis net income

solution

we get here net income by given expression that is

net income = tailoring fees - expenses paid + account receivable + supplies increased - liabilities increased - Depreciation expense .......1

put here value

net income =  $43,300 - $12,300 + $1,050 + $4,300 - $2,350 - $2,500

net income = $31,500

You might be interested in
Bakers are much likely to supply pastries to the market if property rights are not enforced. True or false?.
In-s [12.5K]

The statement bakers are much likely to supply pastries to the market if property rights are not enforced is <u>false</u>.

<h3>What is property rights? </h3>

Property rights can be defined as the right given to person to own and use their property they way they like or wish to use it.

The statement is not true because bakers are much likely to supply their pastries to the market if property rights are enforced.

Therefore the statement bakers are much likely to supply pastries to the market if property rights are not enforced is <u>false</u>.

Learn more about property right here:brainly.com/question/913138

brainly.com/question/22370263

#SPJ1

6 0
2 years ago
The demand for ben &amp; jerry's ice cream will likely be ________ the demand for dessert.
kotykmax [81]

The demand for ben & jerry's ice cream will likely be more price elastic than the demand for dessert.

<h3>What is the elasticity of Demand?</h3>

When all other conditions are equal, the elasticity of demand is a concept in economics that quantifies how responsive consumers are to shifts in the quantity desired as a result of a price adjustment. In other words, it demonstrates the number of things consumers are willing to buy as the cost of those products rises or falls.

By dividing the percentage change in quantity by the percentage change in price during a specific period, the elasticity of the demand formula is computed. It appears as follows:

Elasticity is defined as % change in quantity / % change in price.

The quantity demanded as a result of a percentage change in a product's price is hence the measure of demand elasticity. Demand can be elastic or inelastic depending on whether products' demand is more responsive to price fluctuations. When a product's demand is flexible, the desired quality is extremely responsive to price variations. When a product's demand is rigid, the desired quality does not adapt well to price variations.

Therefore, The demand for ben & jerry's ice cream will likely be more elastic than the demand for dessert.

For more information on the elasticity of demand, refer to the following link:

brainly.com/question/23301086

#SPJ4

7 0
1 year ago
How are you guys today?
lianna [129]

Answer:

alright... i guess

Explanation:

(:(

3 0
3 years ago
You need a new computer, and you will need a loan in order to buy one. Which lender is most likely to charge you the highest int
Rom4ik [11]
I know the answer is but b and d because they have the key words savings and with credit you pay lower to so the answer should be A
4 0
3 years ago
Read 2 more answers
ANSWER QUICKLY PLEASE: What do certifications show a potential employer? Answer in 3–4 sentences.
Nat2105 [25]

Answer: That you are qualified for the job role

Explanation:

Certifications allows an employees to show a current or future hiring manager that they possess the skill set and expertise needed for the job.

They help the employers hire the most competent and qualified personnel for the job as it shows you know your way around the job. And when that certification is now backed by real world on the job experience, this gives the hiring manager a sense of security.

3 0
3 years ago
Other questions:
  • Imagine visiting a foreign nation and having to resolve a minor issue with your passport and travel plans. If someone told you t
    6·2 answers
  • What can cell margins be useful for
    12·1 answer
  • What are the two main forces that underlie the globalization of markets and production?
    15·1 answer
  • Dane works as a sales representative for the Better Butter Company. He is about to meet with his manager to review his progress
    13·2 answers
  • g one of your friends purchased a zero coupon corporate bond (i.e., a bond that has no interest payments) for $4,850. The bond h
    6·1 answer
  • A nation has a ___________ in the production of a good if it can produce that good more effectively or efficiently than it can p
    10·1 answer
  • Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be repor
    8·1 answer
  • Dream Threads Company sells hand-sewn shirts for $40 per shirt. It incurs monthly fixed costs of $7000. The contribution margin
    11·1 answer
  • An appliance company has two warehouses and two retail outlets. Warehouse A has 400 refrigerators and warehouse B has 300 refrig
    9·1 answer
  • Handy Home sells windows and doors in the ratio of 8:2 (windows:doors). The selling price of each window is $106 and of each doo
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!