Answer:
Painter Corporation
Income Statement
For the month ended January, 202x
Total revenues $299,000
<u>Total expenses ($192,000)</u>
EBIT $107,000
<u>Income taxes ($33,200)</u>
Net income $73,800
Painter Corporation
Balance Sheet
For the month ended January, 202x
Assets:
Cash $66,950
Accounts receivables $33,200
Merchandise inventory $95,700
Total assets $195,850
Liabilities:
Accounts payable $27,350
Stockholders' equity
Common stock $94,700
Retained earnings $73,800
Total stockholders' equity $168,500
Liabilities + stockholders' equity $195,850
Answer:
The answer is below
Explanation:
A covalent bond is a type of chemical bond that occurs as a result of the sharing of electron pairs between atoms. Covalent bonds are usually formed between non metallic atoms with similar electronegativity. St room temperature, covalent bond exist as either a liquid or a gas. Example of covalent bonds are ozone (O3), water (H2O) etc.
Ozone is said to be covalent bonded because their is a sharing of electrons among the covalent atoms.
Answer:
Predetermined manufacturing overhead rate= $97 per machine hour
Explanation:
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (6,920,000 + 840,000) / 80,000
Predetermined manufacturing overhead rate= $97 per machine hour
Answer:
The question is actually missing (see attached image):
the answer is:
D. Less than that of its competitors.
Explanation:
Personally, I believe that GM is an extremely spoiled child that refuses to assume responsibility for its continuous and never ending mistakes. GM has either filed for bankruptcy or threatened to do so twice in the last 30 years or so, and every time the US government has to bail them out. But GM keeps doing things wrong.
It doesn't matter if you like their cars or not, GM is terribly managed. No other company in US history has received so much financial aid from the government and continued to lose money and work inefficiently. The problem is that whenever things go wrong, stockholders lose their money but the executives keep getting tens of millions of dollars. If a company is managed in such a disastrous way, their top management shouldn't get paid that much.
A car factory costs a lot of money, and not using it efficiently is outrageous considering GM's history. If they had never received a cent from the government, then its only their problem. But the government lost $11.2 billion on GM's last bailout. During the 1980s GM lobbied fro the government to impose import quotas on Japanese cars because they were better cars and GM couldn't compete against them. So whenever they do things wrong, big brother has to help them. During the last couple of years GM had to sell most of its foreign operations in order to get cash, and you generally do not make money by selling your assets.
<span>Sophia's purchases are increasing each month by 25%. In September, the purchases were $32000. In October, the purchases will be $40,000. In November, the purchases will be $50,000 which is 25% more than the October purchases of $40,000. Sophia pays 50% for the November purchases in December (the month after) and 50% in January (2 month after sale), so she will pay $25,000 in December and $25,000 in January for purchases in November.</span>
