The adjustment that need to be made is <span>Value of the feature would be subtracted from the sales price of the comparable property in order to determine the worth of the property. without the features,
By doing this, we could determine the true market valuation of the property that being transacted.</span>
<span>You would receive a tax refund from the IRS if you paid too much in taxes versus what your net income was during the year. The taxes owed is less than what was paid to the IRS during the year. If you receive credits for what you are able to deduct from your net income, then you will be able to receive money back at the end of the year for over paying during the year.</span>
Answer: $322 241
Explanation: Retained earnings is the capital that is left over after total dividends has been deducted and paid out. It is calculated as follows:
Retained earnings = retained earnings at the beginning of the year + net profits made during the current year - dividends paid out.
∴ Retained earnings = $318, 423 (opening Retained earnings)+ $11,318 (net profits / income) - $7,500 (dividends)
=$322,241
The $25,000 new stock issued generated income to the business, but this does not fall in the retained earnings line item. Rather it falls under the Ordinary Share Capital line item, which includes all the company's issued share capital.
Answer: 20,000 lawn mowers
Explanation:
The formula for calculating the number of lawn mowers needed to reached the budgeted profit levels is:
= (Fixed costs + Budgeted profit) / Contribution margin
Contribution margin = Selling price - Variable cost
= 40 - (14 + 8 + 5)
= 40 - 27
= $13
Number of lawn-mowers required:
= (140,000 + 120,000) / 13
= 20,000 lawn mowers
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