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Dafna11 [192]
3 years ago
12

Emerald Jewelery Store had a credit balance in interest payable of $200 at the beginning of the period, and a credit balance of

$50 at the end of the period. Based on this information, the adjustment to net income for the period will be reported as:
Business
1 answer:
Evgesh-ka [11]3 years ago
7 0

Answer:

Net income will be decreased by $150.

Explanation:

Given:

The credit balance of interest payable (Opening) = $200

Credit balance of interest payable (Closing) = $50

Net income will be decreased by $150.

Decreased net income = credit balance of payable (Opening)  - credit balance (Closing)

Decreased net income = $200 - $50

Decreased net income = $150

The interest of $150 was paid which would reduce the net profit.

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In the late 1970s, LarceCo, a tea manufacturing company, entered the market of a developing country called Fantesnia. As there w
Softa [21]

Answer: Counter trade

Explanation: In simple words, counter trade or bilateral trade refers to the situation when two entities exchange goods or services with one another without using any money. This kinds of trade does not use money but can be valued in monetary terms.

In the given case, Large co were trading their product for the product of other company. Both the products have their own market value.

Hence from the above we can conclude that they were engaged in counter trade.

4 0
3 years ago
Students can earn a GED by
AysviL [449]

Students can get a GED by

D) passing a test that awards a Certificate of High School Equivalency

Explanation:

GED has a bad rep among the students because it is not said to be favored by professionals or college but that is not the case entirely and one can be giving a GED for a various number of reasons.

If the person has not been able to cross high school for some reason and has been out of school for 10 months and does not want to wait another year, or simply cannot go for another year for the school they can get this test.

It is basically an equivalent test to the one that is usually touted to the kids as high school passing.

6 0
3 years ago
A company's had fixed interest expense of $5,000, its income before interest expense and income taxes is $17,000, and its net in
erica [24]
<span>A company's had fixed interest expense of $5,000, its income before interest expense and income taxes is $17,000, and its net income is $9,400. the company's times interest earned ratio equals to 3.4 times. $17000 / $ 5000 = 3.4 times</span>
7 0
3 years ago
East Publishing Company is doing an analysis of a proposed new finance text. Using the following data, answer Parts a through e.
Alik [6]

Answer:

a. Determine the company’s breakeven volume for this book. •i. In units ii. In dollar sales

total fixed costs = $70,000

variable costs per unit = $16

sales price = $30

contribution margin = $30 - $16 = $14

break even point in units = $70,000 / $14 = 5,000 textbooks

break even point in $ = 5,000 x $30 = $150,000

b. Develop a breakeven chart for the text.

units fixed costs variable costs      total costs     total sales

0         70000                     0                  70000           0

1000 70000          16000          86000      30000

2000 70000         32000         102000      60000

3000 70000         48000          118000      90000

4000 70000         64000         134000     120000

<u>5000 70000         80000         150000       150000 </u>

6000 70000         96000       166000     180000

 

I attached the graph that corresponds to this break even chart.

             

c. Determine the number of copies East must sell in order to earn an (operating) profit of $21,000 on this text.

($70,000 + $21,000) / $14 = 6,500 units

total sales = 6,500 x 30 = $195,000

d. Determine total (operating) profits at the following sales levels: i. 3,000 units •ii. 5,000 units iii. 10,000 units

i. $28,000 loss

ii. no gain/loss, break even point

iii. $70,000 gain

       

e. Suppose East feels that $30.00 is too high a price to charge for the new finance text. It has examined the competitive market and determined that $24.00 would be a better selling price. What would the break even volume be at this new selling price?

new contribution margin = $24 - $16 = $8

new break even point in units = $70,000 / $8 = 8,750 textbooks

3 0
3 years ago
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Veseljchak [2.6K]

Answer: contingency plans

Explanation:

A contingency plan is a plan that's designed in order to take into consideration ever possible event or circumstance that may occur in the future.

The aim of a contingency plan is to help an organization hat back to its feet as soon as possible when an unforeseen event o circumstance happens.

5 0
2 years ago
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