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denis-greek [22]
3 years ago
7

Omega.com sold 25 jet skis for $7000.which cost$5000 The entry to record the sale would be

Business
1 answer:
Hoochie [10]3 years ago
5 0

If the company sold 25 jet skis at $7,000 each the total value of the sale is $175,000. The correct way to record this transaction would depend on how the sale was paid for.

If the jet skis were paid for with cash the entry is going to be a debit to Cash for $175,000 and a credit to Sales for $175,000. If they were sold on account the entry is going to be a debit to Accounts Receivable for $175,000 and a credit to Sales for $175,000.

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Households and firms with savings lend money to banks and other financial institutions. The credit supply curve shows the relati
rosijanka [135]

Answer:higher real interest rate discourages current consumption and higher real interest rate encourages more saving.

Explanation:The supply curve is a graphic representation of the correlation between the cost of a good or service and the quantity supplied for a given period. In a typical illustration, the price will appear on the left vertical axis, while the quantity supplied will appear on the horizontal axis.

Our measure of credit demand is an indicator variable for a firm's need for bank loans decreasing during the period. We measure credit supply using information on whether a firm's loan application was rejected, or the firm received less than 75% of its desired amount.

Credit supply curve is a curve that plots the quantity of credit supplied at different real interest rates.

4 0
3 years ago
Titanic Roofing Company has estimated the following amounts for its next fiscal​ year: Total fixed costs $ 840 comma 000 Sale pr
Nina [5.8K]

Answer:

Operating income increases by $40,000.

Explanation:

Given that,

Total fixed costs = $840,000

Sale price per unit = $60

Variable cost per unit = $30

Additional amount spend on advertising = $35,000

Sales volume would increase by 2,500 units.

Contribution margin:

= Sales - Variable costs

= $60 - $30

= $30 per unit

Increase in operating income:

= Increase in contribution margin - Increase in Fixed costs

= ($30 × 2,500 units) - $35,000

= $75,000 - $35,000

= $40,000

3 0
3 years ago
A person with a poor self-concept is more likely to be hired for a position, because they are easier to “mould”.
Charra [1.4K]

Answer:

False.

Explanation:

Self-concept describes the kind of person or personality an individual thinks he or she has.

People that have a realistic self-concept about themselves basically see themselves as they are, not what they or the society at large wants them to be.

The statement that a person with a poor self-concept is more likely to be hired for a position, because they are easier to “mould” is false and an absolutely incorrect notion.

First of all, no organization is interested in hiring an individual with a poor self-concept because they can't add any value to the organization in the long-run.

6 0
3 years ago
Builtrite had sales of $700,000 and cogs of $280,000. in addition, operating expenses were calculated at 25% of sales. builtrite
Leni [432]

This is the presentation of the income statement of Builtrite in order to compute the net income:

Sales                                                                                   $700,000

Less: COGS                                                                        $280,000

Gross Profit                                                                         $420,000

Less: Operating expenses ($700,000 x 25%)    $175,000

          Dividends expense                                   $25,000

          Capital loss                                               $70,000    $270,000

Total                                                                                     $150,000

Add: Dividend income                                         $40,000

          Capital gain                                               $55,000    $95,000

Net income                                                                           $245,000

3 0
3 years ago
The level of inventory of a manufactured product has increased by 8,000 units during a period. The following data are also avail
LiRa [457]

Answer:

There will be a difference in the income .

Absorption costing income will be lower as it transfers all the fixed costs to the ending inventory.

Variable costing income will be higher as it does not transfer  the fixed costs to the ending inventory.

The difference will be  of $ 104000

Explanation:

Increase in units 8000                                                              

                                                              Variable       Fixed

Unit manufacturing costs of the period $24.00 $10.00

Unit operating expenses of the period    8.00       3.00

Total Unit Costs                                       $ 32.00    $ 13.00

The net operating income under variable costing for the year will be $ 13* 8000= $ 104000 Lower than the net operating income under  absorption costing.  This is because the all fixed costs will be treated as period cost rather than product costs.

In variable costing the ending inventory will be $104000 lower than the ending inventory under absorption costing  because the fixed costs will not be allocated to products.

Under variable costing, the units in the ending inventory will be costed at $32 each.Under absorption costing, the units in the ending inventory will be costed at $32+ $ 13= $ 45 each.

7 0
3 years ago
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