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4 years ago

Robinson Co. had the following transactions in 2016, its first year of operations.

Business

1 answer:

Aloiza [94]4 years ago

6 0

Answer:

Income Statement (cash basis)

Sales revenue $275,000

Utilities ($32,000)

Materials and supplies ($75,000)

Equipment ($50,000)

Wages ($65,000)

Insurance ($36,000)

Net income = $17,000

Income Statement (accrual basis)

Sales revenue $310,000

Utilities ($32,000)

Materials and supplies ($50,000)

Depreciation expense: equipment ($10,000)

Wages ($77,000)

Insurance ($18,000)

Net income = $123,000

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A broker has asked his unlicensed assistant to show a buyer property. the most important item the broker should verify prior to

sveta [45]

The most important item the broker should verify prior to the showing is that the assistant should be the permission of the seller or seller's broker to show the property.

<h3>What is Seller's Permission?</h3>

The seller's permit, also known as a sales tax permit or sales and use tax permit, is a type of business license that enables you to charge and collect sales tax on goods and services that are taxable. The tax you have collected must then be sent to your state's taxing body by your company. Seller's permits are state-specific, allowing you to complete the transaction in the state where the permit was issued while also collecting and remitting the necessary sales tax. Seller's permits are state-specific, so if you operate in multiple states, you might need more than one.

Therefore, a seller's permit plays a very important role in any sale.

For more information on Seller, refer to the given link:

brainly.com/question/14017882

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4 0

2 years ago

Which of the following statements is CORRECT?

Advocard [28]

Answer: Option B

Explanation: In simple words, capital market is that market in which securities that are long term in nature are sold and purchased. The maturity period of such securities is generally more than one year.

These, markets transact all types of securities whether it is equity or debt, but it has to be long term in nature.

Hence, from the above we can conclude that the right answer is Option B.

8 0

3 years ago

In Country X a returning tourist may import goods with a total value of $500 or less tax free, but must pay an 8 percent tax on

Morgarella [4.7K]

Answer:

$18.4

Explanation:

Data provided in the question:

Maximum value on which there is no tax = $500

Tax paid on the portion of the total value in excess of $500 = 8% = 0.08

Total value of the goods imported by the returning tourist = $730

Now,

The excess amount of portion on which the tax will be charged

= Total value of the goods imported - Maximum value on which there is no tax

= $730 - $500

= $230

Therefore,

@8% tax rate

Total tax that must be paid on excess portion i.e $230

= $230 × 8%

= $230 × 0.08

= $18.4

7 0

4 years ago

XYZ Company makes 400 widgets. The variable costs are $35.60 per unit and fixed costs are $30.00 per unit; however, $21.40 in fi

Anuta_ua [19.1K]

Answer:

increase in income of $80

Explanation:

Prepare an Analysis of Costs and Savings if the Company buys from Outside Supplier.

Note : The fixed costs per unit at are unavoidable are irrelevant and disregarded in this decision.

Analysis of Costs and Savings

Purchase Price (400 widgets × $44.00) = ($17,600)

Savings :

Variable Costs ($35.60 × 400 widgets) = $14,240

Fixed Cost ( $8.60 × 400 widgets) = $3,440

Net Income effect = $80

Conclusion :

The effect on net income if the company instead buys the widgets is an increase in income of $80

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4 years ago

Yasmine plans to attend a four-year public university. She expects she will need to contribute $9,000 annually to her education.

mojhsa [17]

It is D. There are 12 months in a year and she needs to save atleast 9,000.
600x12=7,200
350x24=8,400
225x36=8,100
200x48=9,600

7 0

3 years ago

Read 2 more answers