Answer: The profit margin is 22.35 %
Explanation: The formula for profit margin is net profit/ income ÷ net sales.
As such, the profit margin is (131000 ÷ 586000) x 100 = 0.2235 * 100 = 22.35 %
Answer:
The correct answer is letter "B": There is no general rule for when an account becomes uncollectible.
Explanation:
Accounts Uncollectible represent any form of debt as a result of sales on credit that are likely not to be paid. Before classifying debt as uncollectible there is an unset timeframe that may go by.
At first, the sale on credit is considered an account receivable with a payment promise usually of 30 or 90 days. If three month passes but no payment is received, the account is considered aged receivables but if more time goes through without payment, the account then is labeled as doubtful.
Doubtful accounts become allowances if the company decides to take care of the payment of the debt with its own profit. <em>There is no set rule when an account receivable becomes uncollectible. It relies on the judgment of the firm.</em>
Answer:
<u>the supply curve</u>
Explanation:
Remember the supply curve shows the relationship between the amount of a commodity that a producer (or orange farmer) is <em>willing </em>to offer and at a particular price at any given time.
Because of the subsidies to orange farmers we expect the price of orange to become lesser in the future. Therefore the rightward shift occurs in supply curve for oranges due to favorable changes such as the new legislation which may lead to:
- Reduction in tax,
- Reduction in cost of factor of production,
- Expectation of fall in price in future,
Answer:
The quantity is likely to decrease, the change in price depends on the extent of change in demand and supply.
Explanation:
The fear of the mad cow disease lead to a reduction in the demand for beef. This caused the demand curve to move to the left.
At the same time, destruction of cattle heads ordered by the government lead to a reduction in the supply of beef. This caused the supply curve to move to the left.
This leftward shift in both demand as well as supply curve will lead to a reduction in the equilibrium quantity of beef.
The change in price of beef depends upon the extent of change in demand and supply. If both decrease by the same extent, the price will remain the same.
As long as you have no dependents
1040EZ is the simplified tax paying form made by IRS. In order to use it you juts have to select your tax filling status and enter some details for your tax counting.
But if you have a dependent ( like a spouse who claimed that you should pay for your child's education fund) , you can not use 1040EZ
