Julius' Schedule C (Form) gross profit would be $47,000
<h3>Define gross profit.</h3>
Your gross profit is the selling price of your items less their production costs. It is your service's selling price less the time and labor expenses incurred to complete the work for a service-based firm. Gross profit is another phrase for total sales, often known as revenue or turnover, less total sales expenses.
To determine gross profit, sales money is reduced from the direct costs of bringing the product to market. Net profit is calculated as sales revenue minus all business expenses. In both business and accounting, net income is an entity's revenue less the cost of goods sold, costs, depreciation and amortization, interest, and taxes for a given accounting period.
Given:
Gross income = Sales - returned goods - costs of goods sold
$97,000 - $25,000 - $2,000 = $70,000;
To learn more about gross profit, visit:
brainly.com/question/28286531
#SPJ1
The lender will most likely take possession of his car when Eduardo failed to make any payments over the past few months on the car credit.
<h3>What is a
car credit?</h3>
A car credit is an arrangement of installment payment on a car with an agreement to pay certain amount at regular interval.
Hence, the lender will most likely take possession of his car when Eduardo failed to make any payments over the past few months on the car credit.
Therefore, the Option B is correct.
Read more about car credit
<em>brainly.com/question/24460932</em>
Answer:
A. $750
B. $675
C. $7,500
D. 1. Leakage of cash
2. Preference for liquid cash.
Explanation:
A. M1 is a measure of money in the narrow sense. It includes the cash currency in M0 and the deposits in checking accounts (sight deposits), which are perfectly liquid, suitable for immediate everyday payments. With Meagan's deposit of $750 into her checking account, the immediate effect will be an increase in M1 by $750.
B. The amount of money local bank can lend given a reserve requirement if 10% and no excess reserve kept by the bank is 90% of $750.
Reserve requirement = 10% of 750 = $75
Balance = 750 - 75 = 675
So $675 is the amount local bank can lend.
C. Creation of money refers to the multiplication of loans and advances. Recall that in B above, we calculated the amount of money local bank can lend given a reserve requirement of 10% and deposit of 750$ to be $675. This $675 is lent to another individual who deposits same into a checking account. With a reserve requirement of 10%, an amount of $607.5 has been created which can be lent out. This process continues until the final deposit becomes too small to create fresh loan. So we derive a formula for finding the amount of money the entire banking system can create.
nM = iD/r
Where:
nM is the amount of money created
iD is the initial deposit = $750
r is the legal reserve ratio = 10%
nM = 750/10% = 7500
The amount of money the entire banking system can create is equal to $7500.
D. In reality, the power of commercial banks to create credit is subject to the some limitations, making it difficult for banks to create money up to $7500. Two of the reasons are : cash leakage and preference for liquid cash. The money creation multiplier used in the calculation above is based on the assumption that the entire loan is deposited into the banks. Due to either cash leakage or preference for liquid cash, the amount deposited into the banking system will ultimately reduce. This will weaken the multiplier and consequently reduce the amount of money created by the entire banking system.
It was because of the Great Recession. This financial crisis caused several governmental policies regarding federal funds to be restructured (although changes in the policies were already in discussion even before the disaster). Since then, the federal funds rate has always been near to zero and basically negligible. Hence the Great Recession of 2008 was the reason behind the last federal funds transaction being in 2008.
Although still underrepresented, women have broken into management roles, particularly in the education and health industry.
Women are considered as the main agents of primary health care.
They play an essential role in maintaining the family and health of community. Women are the ones who are the most aware of sickness and suffering in the community.
Their social role is as nurturer and care-taker of the young and the old, as well as the the sick and the handicapped, and they put an important influence on health habits in the family.
Educated women not only tend to promote education of their girl child, but women also provide better guidance to all of their children, moreover educated women can also help in the reduction of infant mortality rate and growth of the population.
To know more about the women role in education here:
brainly.com/question/2851742
#SPJ4