Answer:
Explanation:
1. The computation of the balance in retained earnings is shown below:
= Beginning retained earning balance + adjusted net income
where,
Beginning retained earning balance is $780,000
And, the adjusted net income is = Inventory × ( 1 - tax rate)
= $60,000 × (1 - 40%)
= $36,000
Now put these values to the above formula
So, the value would equal to
= $780,000 + $36,000
= $816,000
2. The journal entry is shown below:
Inventory A/c Dr $60,000
To Retained earning A/c $36,000
To Tax payable A/c $24,000
(Being inventory is adjusted and the remaining balance is credited to tax payable account)
Answer:
The company's net income for the month was $27 comma 000
Explanation:
Net income = Total Sales - total expense
During the month of May,
Total Sales = credit sales + cash sales = $35,000 + $25,000 = $60,000
The company paid wages of $ 24 comma 000, the wages expense was $ 24 comma 000.
The company paid utilities of $ 9 comma 000, the utilities expense was $ 9 comma 000
Total expense = wages expense + utilities expense = $24,000 + $9,000 = $33,000
The payment that the company received from its customer was not the sales or expense. It made increase cash and reduce account receivable.
Net income = $60,000 - $33,000 = $27,000
D. because you Have Caps on all, a symbol, A lower case, and a number
The examples are given below:
- There are people who pursue a degree in theater rather than science, even though scientific careers are usually much higher-paying.= Consistent with the Predictions of Traditional Economic Models
- Some people care about how much money they make relative to other people rather than their absolute level of income.= Reserved for Behavioral Economics
- Some people would be willing to make a large sacrifice in order to help a loved one.= Consistent with the Predictions of Traditional Economic Models
- Some people treat $75 they earn differently from $75 they receive as a gift.= Reserved for Behavioral Economics
What is meant by Behavioral economics?
Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences.
What are behavioral economic strategies?
Behavioural economics aids marketing strategies by understanding how consumer decisions can be influenced. As a result, making small changes to the product, the branding or the choices you offer can massively influence consumer behaviour.
Learn more about behavior:
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