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geniusboy [140]
3 years ago
9

RyanRyan Street Barber Shop pays $ 30$30 per month for water for the first 12 comma 00012,000 gallons and $ 2.50$2.50 per thousa

nd gallons above 12 comma 00012,000 gallons. Calculate the total water cost when the barber shop uses 8 comma 0008,000 ​gallons, 13 comma 00013,000 ​gallons, and 17 comma 00017,000 gallons.
Business
1 answer:
Phantasy [73]3 years ago
4 0

Answer:

  • 8,000: $30
  • 13,000: $32.50
  • 17,000: $42.50

Explanation:

<u>8,000</u>

This amount is below the quantity for which additional charges accrue. The base charge applies: $30.

<u>13,000</u>

This is 1000 gallons more than you get for $30, so costs an additional $2.50. The total water cost is ...

  $30 +2.50 = $32.50

<u>17,000</u>

This is 5,000 gallons more than you get for $30, so costs an additional 5×$2.50 = $12.50. The total water cost is ...

  $30 +12.50 = $42.50

_____

<em>Comment on the water charges</em>

$30 is the same as the cost of 12,000 gallons at $2.50 per thousand. So, the total bill can be figured at $2.50 per thousand, with a $30 minimum.

  8 × $2.50 = $20, so the charge is the minimum, $30

  13 × $2.50 = $32.50

  17 × $2.50 = $42.50

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From the following information, construct a simple income statement and a balance sheet:
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The Preparation of the simple income statement and a balance sheet is shown below:-

                                   Corporation X

                                  Income Statement

                                 for the Year Ended xxxx

Particulars                                        Amount

Sales                                                $1,000,000

Less: Cost of goods sold               $500,000

Gross profit                                      $500,000

Less: Other expenses                     $60,000

EBIT                                                  $440,000

Less: Interest                                   $70,000

EBT                                                   $370,000

Less: Income tax                              $100,000

Net income                                       $270,000

Number of shares outstanding       $80,000

Earning per share                             $3.375

(Net income ÷ Number of shares outstanding)

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                                 for the Year Ended xxxx

Particulars                                        Amount

Assets

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Accounts Receivable                     $150,000

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Finished Goods                              $250,000

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Other Current Liabilities                 $60,000

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