Answer:
Callie's Gross Profit is $562000
Explanation:
Gross profit is the profit earned by a business after deducting the costs associated with producing or selling its goods (for manufacturing and trading businesses) or the costs associated with providing the services (for service businesses) from the net revenue.
It is the profit from the trading section of the business before deducting the operating and financing expenses of the business and before adding any other income.
The gross profit is simply calculated as follows,
Gross Profit = Net Revenue - Cost of Goods Sold
Callie's gross profit = 940000 - 378000
Callie's Gross Profit = 562000
Answer:
I used the most recent figures of the international property rights index (year 2019), and the most recent GDP per capita estimamtes by the IMF in purchasing power parity. (year 2019)
Three countries with high scores, with GDP per capita (PPP):
- Finland - score of 8.712 - U$ 46.430
- Switzerland - score of 8.571 - U$ 64.649
- United States - score of 8.202 - U$ 62.606
Three countries with low scores, with GDP per capita (PPP):
- Ukraine - score of 4.432 - U$ 9.283
- Pakistan - score of 3.874 - U$ 5.680
- Haiti - score of 2.703 - U$ 1.864
The pattern that we find is that there is a strong correlation between the International Property Right Index scores and the GDP per capita figures. This is consistent with the findings in other similar rankings such as the Global Competitiveness Report, published by the World Economic Forum, and the Economic Freedom Index, published by the Heritage Foundation.
What can be interpreted is that property rights, and the strong enforcement of those property rights promote economic development and growth. This is because the protection of private property stimulates human action. For example, the United States has a strong judiciary, and rule of law. In this country, people can invest their money in a project with the certainty that those invesments will not be expropriated by an arbitrary judiciary. This promotes development because investing leads to higher economic output.
Those same incentives do not exist in countries that do not enforce property rights, and that is one of the main reasons why they are poor.
Answer:
The answer is consumer's surplus
Explanation:
Consumer's surplus is the difference between what the consumer or buyer is willing to pay and the amount he or she eventually paid.
For example, Mr A is willing to pay $100 for a product and the producer is willing to sell for $90. After much negotiation between mr A and the seller, he eventually paid $85. What he paid was lower than what he was willing to pay before.
So the consumer surplus is $100 - $85 = $15
Answer:
$7,000 is the amount of revenue in year 1
Explanation:
The amount received from the customer is $24,000,which is payment for work to be performed over 24-month period i.e 2 years
In year 1,the work would be performed from June -December,hence 7-month worth of revenue should be recognized in year 1 as follows
revenue recognition in year=$24,000*7/24=$7,000
The amount of revenue attributable to year 1 on the income statement is $7,000
