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EleoNora [17]
3 years ago
7

During 2019, Revitup, Inc., an exercise video retailer, purchased $10,000 of videos for which it paid $7,000 and owes $3,000. Of

the $10,000 of videos purchased, Revitup sold $8,000 worth of videos for $12,000 to its customers. How much should Revitup report as an expense on its income statement for the year ended December 31, 2019?
Business
1 answer:
Ksju [112]3 years ago
3 0

Answer:

8000$

Explanation:

The Income Statement is one of an organization's centre budget summaries that show their benefit and losses. Revidup should report 8000$ as a cost on its income statement. The expense of the sum sold must be accounted for in the income statement whether the payment is in advance or if the amount of money is made later. The reason to report 8000$ is that, it is the cost of the amount sold and it is compulsory to report it as an expense in income statement.

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A borrower is unsure whether to go with a fixed rate or adjustable rate loan. what kind of questions would you ask to help them
katovenus [111]
I would ask them if they were comfortable with a fluctuating rate, which though at the moment is lower than the fixed rate, could go up in the future. I would also ask them if they needed to be sure of the rate say for example for a 5 year term like in a mortgage for peace of mind or if they are willing to take a risk with the fluctuations. If the latter, I would tell them that at any time they could lock it in for a 5 year term if they saw it going up. 
5 0
3 years ago
Gayne Corporation's contribution margin ratio is 12% and its fixed monthly expenses are $84,000. If the company's sales for a mo
babymother [125]

Answer:

the net operating income is 4.560

Explanation:

Net operating income is a calculation of revenues less cost, minus all reasonably necessary operating expenses. Having said that we can determine that the fixed expenses are included in the necessary operanting expenses unless they include depreciations and amortization. Since the text doesn’t refer to the fixed expenses as depreciations or amortization the calculation is this:

Calculate the cost if the contribution margin is 12%

Cost is equal to = (Revenue*(1-contribution ratio))= (738.000*(1-0.12))= 649.440

Then calculate the net operating income  

Net operating income = (Revenue – Cost-operating expenses) = (738.000-649.440-84.000) = 4.560

3 0
4 years ago
Suppose the observed annual quantity of steel exchanged in the European market is 30 million metric tons, and the observed marke
VARVARA [1.3K]

Answer:

-0.10

Explanation:

To calculate this, we us the formula for calculating elasticity of demand (E) relevant for the demand equation as follow:

E = (P / Q) * (dQ / dP) .............................. (1)

Where,

Q = 30

P = 90

E = -0.3

dQ / dP = b = ?

We then substitute all the value into equation (1) and have:

-0.3 = (90 / 30)  * b

-0.3 = 3 * b

b = -0.3 /3

b = -0.10

Therefore, appropriate value for the price coefficient (b) in a linear demand function Q is  -0.10.

NB:

Although this not part of the question, but note that how the linear demand function will look can be obtained by first solving for the constant term (a) as follows:

Q = a - 0.10P

Substituting for Q and P, we can solve for a as follows:

30 = a – (0.1 * 90)

30 = a – 9

a = 30 + 9 = 39

Therefore, the linear demand equation can be stated as follows:

Q = 39 – 0.1P

5 0
4 years ago
By lowering production costs, subsidies help foreign competitors gain export markets. True or False
Luden [163]

Answer:

False

Explanation:

Whenever, there will be reduced production costs, due to any reason in the economy, then the goods will be cheaper and accordingly the sale will be in abundance assuming other factors remain constant.

Thus, due to subsidies the cost to producers will be less and then exporters will not be able to get more share as domestic goods will cost cheaper.

Thus, there will not be any gain to foreign competitors in our domestic markets, as they will not get any share extra rather they will loose as a foreign competitor. In fact goods which are exported will also cost low, and therefore, will gain new customers.

Therefore, above stated statement is false.

5 0
4 years ago
Banks are concerned mainly either the function of_____<br>​
Jlenok [28]
The answer is Economy
7 0
3 years ago
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