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svp [43]
3 years ago
9

Quincy listed his assets and liabilities.

Business
2 answers:
ANEK [815]3 years ago
7 0

Answer:

CASH STOCKS AND JEWLERY

Explanation:

zheka24 [161]3 years ago
3 0
Assets are items or properties that you own, and that are valuable to you. Liabilities are things that you have to pay for as a result of you using something. So, having that in mind, Quincy's liabilities are rent, student loan, and utilities, whereas his assets are cash, stocks, and jewelry.
He gets cash when he finishes his work, he gets money from stocks, and he has his jewelry that he either bought or got as a gift that he can sell for money.
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Harding corporation sells two products, standard and supreme. expected sales are 40,000 standard and 60,000 supreme. standard's
dolphi86 [110]

Contribution for Standard is $30 per unit and Supreme is $60 per unit, Thus if Fixed expenses are first divided between the two products on the basis of Contribution per unit, It can be calculated as below:

Fixed Expense Bifurcated on basis of Contribution per unit= 30:60

Which Comes to 1:2

Thus it will be bifurcated as $1200000 for Supreme and $600000 for Standard

Thus for Standard to break even it Requires to Sell the below no of units:

Break Even Point in units=\frac{Fixed Expense}{Contribution per unit}

Break Even Point in units=\frac{600000}{30}

Break even points in units=20000 units

7 0
3 years ago
Builtrite's upper management has been comparing their books to industry standards and came up with the following question: Why i
Vesna [10]

Answer:

Builtrite has higher than average operating expenses

Explanation:

Subtracting cost of goods sold from net sales will give you gross profit. The reason of high gross profit could be company is able to sell its products at a higher price or it is able to keep its cost of goods sold at a lower level than industry standards.

A higher-than-industry-average gross profit margin increases your chances of generating a net profit provided that you are able to keep your expenses within industry average levels.

Operating profit is the pre-tax profit or in other words it is calculated by subtracting operating expenses from the gross profit. Operating profit margin is equal to operating income divided by the total revenue. A lower operating margin despite of having higher gross profit is because the company is not able to control its operating expenses or in other words they are incurring higher operating expenses as compare to industry.

4 0
3 years ago
You are on your daily jog when a car negligently pulls in front of you. Unable to stop, you run
babymother [125]

Answer:

<u>medically speaking, Yes!</u>

Explanation:

Since the scenario only <em>involves the individual running into the car, not the car hitting the individual</em>; meaning that he'll have less severe injuries.

To be able to recover from the harm done, the individual may need first aid treated.

3 0
3 years ago
A company implements the following policy regarding inventory in transit: Goods purchased are included in inventory records, whi
a_sh-v [17]

Answer:

c. The party who has title to the inventory while in transit.

Explanation:

If you sell or buy FOB shipping point, then you could use this type of accounting method. The title of the goods is transferred immediately (as soon as the goods leave the seller's premises). But if the transactions are FOB destination, the title of the goods is transferred only after the goods have been delivered.

8 0
3 years ago
If total liabilities decreased by $30,000 and stockholders' equity decreased by $10,000 during a period of time, then total asse
boyakko [2]

Answer:

C) $40.000 Decrease

Explanation:

The accounting equation states that: Assets = Liabilities + Equity, so in this case the Assets must decrease in the same amount that change the other side of the equation, $40.000.

4 0
3 years ago
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