Answer:
Explanation:
It is given that there is a liability to creditors of 6,500
Total assets = Total liability + Shareholder's equity
a) Shareholder's equity = Total assets - Total liability = 10,250 - 6,500 = 3,750
b) Shareholder's equity = Total assets - Total liability = 5,900 - 6,500 = -600
I think it's a cashier's check...(Don't mark my words)
Answer:
The answer is: Gross profit = $2,788
Explanation:
- Feb. 1 Purchase 110 units $46 per unit
- March 14 Purchase 190 units $48 per unit
- May 1 Purchase 135 units $ 50 per unit
312 units were sold at $64 per unit, tax rate is 30%
Using FIFO, what is the company's gross profit? We first calculate COGS
Cost of goods sold - 312 units:
- 110 units at $46 per unit = $5,060
- 190 units at $48 per unit = $9,120
- 60 units at $50 per unit = $3,000
Total COGS = $17,180
<u>Income statement for Hogan Industries 2017</u>
Total revenue $19,968
<u>COGS ($17,180) </u>
Gross profit $2,788
<u>Taxes 30% ($836.40) </u>
Net profit $1,951.60
Answer:
The correct answer is C
Explanation:
Economies means the state of the region or the country in relation to the consumption and the production of the services and the goods and also the supply of the money.
If the economies of the India and the China, will be slow down, then the loanable funds as well as the interest rates will increase because the money for liquidity will be negligible which lead to competition among using the money for personal consumption or to delay the consumption through lending the money out.
Answer:
a. increase price in the short run but not in the long run.
Explanation:
A perfectly competitive market is one in which firms in an economy produce similar goods, and use resources that are limited in quantity.
An increase in demand will result in a corresponding increase in price, and results in firms making high profits. In the diagram below it results in a shift of demand from D1 to D2.
In the long run as firms have low barrier to entry more firms enter the market and supply shifts from S1 to S2. There is reduction in prices and profits start to fall. This is illustrated in the second diagram.
