1. revenue 2. income 3. graph 4. equity 5. balance sheet 6. income taxes
The amount of gain that will be recognized in 2021 under the installment method, is $27, 857 . 14
<h3>How to find the gain recognized?</h3>
First, find the profit margin on the land sold by Allen to Stan:
= ( Selling price of land - Allen's basis in the land) / Allen's basis in the land
= ( ( 300, 000 + 65, 000) - 255, 500) ) / 255, 500
= 109, 500 / 255, 500
= 42. 857 %
The gain to be recognized, using the installment method is:
= Profit margin x Amount paid by Allen in 2021
= 42. 857 % x $ 65, 000
= $27, 857 . 14
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Answer:
The answer is letter A.
Explanation:
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Answer:
<em> 334 units </em><em>sales increase during the month must be required to justify the contemplated expenditure</em>
Explanation:
If management proposes an increase in monthly promotional costs (which is a fixed cost), then the units required to at least cover these extra fixed costs (break -even) must be determined.
<em>Break -even (units) = Fixed Cost / Contribution per unit</em>
<em> </em><em>= $1,600 / ($8.00 - $3.20)</em>
<em> = $1,600 / $4.80</em>
<em> = 333.333</em>
<em> = 334</em>
<em>Therefore, 334 units must contemplate this expenditure</em>
