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xenn [34]
3 years ago
5

Simon Company had the following summarized operations for the month of May: Revenues earned: for cash, $32,000; and on account,

$18,000; and Expenses incurred: for cash, $5,000; and on account, $10,000. In addition, the company purchased Equipment for $8,000 on account and Supplies for $5,000 for cash. The net income for the month of May is $35,000. $27,000. $45,000. $14,000.
Business
1 answer:
AlladinOne [14]3 years ago
7 0

Answer:

$35,000

Explanation:

Given that,

Revenues earned:

cash = $32,000

on account = $18,000

Expenses incurred:

cash = $5,000

on account = $10,000

Net Income:

= Income - Expenses

= (Cash revenue + account revenue) - (cash expenses + Expenses on account)

= ($32,000 + $18,000) - ($5,000 + $10,000)

= $35,000

Therefore, the net income for the month of May is $35,000.

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Offering regular customers discounts on products is know as a
Alexxx [7]

Answer:

External customer incentives

Explanation:

External customer incentives are similar to customer incentives. The phrase external distinguishes between internal customers or company employees and other customers who chose to buy the company's products.

Customer incentives are offers given to customers by a company to attract and retain them. Businesses use incentives to convert potential customers into paying clients. Discounts are an example of external customer incentives.  They are used when a business faces competition from similar products by other companies. Business also offer end of the year, anniversary, and other seasonal discounts.

7 0
3 years ago
How air particle density and air pressure are related
EleoNora [17]

Explanation:

The more gas particles there are within a given area, the greater the air density. Likewise, the greater the air density, the more gas particles there are per unit volume. Therefore, there are more air particles bombarding with a surface. Thus, the air pressure increases as the air density increases and visa versa... I hope this helps you answer your question :)

4 0
3 years ago
For a stock to be in equilibrium, that is, for there to be no long-term pressure for its price to depart from its current level,
Alex_Xolod [135]

Answer:

c.the expected future returns must be equal to the required return.

Explanation:

When the stock is at equilibrium than the intrinsic value of the stock is equivalent to the market price of the stock that depicts that the expected returns which held in the future should be equivalent to the required return

Therefore the option c is correct

And, the other options that are mentioned in the question are incorrect

4 0
3 years ago
A truck acquired at a cost of $69,000 has an estimated residual value of $12,000, has an estimated useful life of 300,000 miles,
Anuta_ua [19.1K]

Answer:

A. $57,000

B. Depreciation rate per mile is $0.19

C. Depreciation is $14,630

Explanation:

a. cost of the truck less the residual value.

Cost of the truck        $69,000

Less: Residual value  <u>$12,000</u>

                                   $57,000

b. Depreciation rate per mile is computed by dividing cost of the truck less the residual value over the estimated useful life.

$57,000 / 300,000 miles = $0.19

c. Units-of-activity depreciation for the year is computed by multiplying miles driven for the year by depreciation rate per mile.

77,000 miles x $0.19 = $14,630

6 0
4 years ago
Suppose a small country has a comparative advantage in the production of consumer electronics, and it has one major electronics
zlopas [31]

Answer:

Imports create greater competition in the domestic marketplace.

Explanation:

Comparative advantage is defined as the ability of a company to produce goods at a lower opportunity cost than other competitors. They can now sell the goods at lower prices.

If the company in this scenario have competitive advantage in producing electronics then it is xheap for them to produce.

When they export electronics and import again, it can only mean that the imported electronics have a competitive edge that the company wants to take advantage of. For example higher quality than what is available locally.

4 0
3 years ago
Read 2 more answers
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