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Anit [1.1K]
3 years ago
9

Presented below is information for Cullumber Company for the month of January 2017.

Business
1 answer:
Law Incorporation [45]3 years ago
7 0

Answer:

you cannot journalize these transactions. you can prepare an income statement which is not the same:

Sales revenue                                   $393,500

Sales discounts ($8,800)

Sales allowances ($18,600)             <u> ($27,400)</u>

Net sales revenue                             $366,100

Cost of goods sold                         <u>($205,200)</u>

Gross profit                                       $160,900

Operating expenses:

Rent ($33,000)

Freight out ($8,200)

Insurance ($13,600)

Salaries ($60,200)                          <u>($150,000)</u>

Operating income                              $10,900

Income taxes                                      <u>($5,300)</u>

Net income                                          $5,600

Other comprehensive income         <u>  $2,000</u>

Total income                                       $7,600

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Are there any similarities between the characteristics demanded of an entrepreneur and those of a professional athlete? Would an
pychu [463]

Answer:

The demands of an entrepreneur and a professional athlete are more comparative than one may expect.

Explanation:

Professional athlete are required to place in extended periods of time, remain submitted, deal with their bodies, keep an expert notoriety, and deal with their own image. An entrepreneur must work unusual hours, stay with their objectives, deal with themselves, arrange and keep up great associations with sellers and clients, and advance their organisation. So yes they both have similarities and an athlete can work as an entrepreneur because he knows how to work with team members and how to stay on objectives.

4 0
3 years ago
An economy is operating with output $300 billion above its natural level, and fiscal policymakers want to close this expansionar
topjm [15]

Answer:

$120 billion

Explanation:

Economy operating at $300 billion above its natural level of output.

Marginal propensity to consume, MPC = 3/5 = 0.6

For closing this expansionary gap, the government have to decrease its spending by the amount calculated as follows:

Spending multiplier:

= 1/ (1 - MPC)

= 1/ (1 - 0.6)

= 1/ 0.4

= 2.5

Hence, the government spending reduces by

= Expansionary gap ÷ Spending multiplier

= $300 ÷ 2.5

= $120 billion

4 0
3 years ago
Which of the following situations represents commodity-backed money? Choose one:
Marta_Voda [28]

Answer: A. Dollars are printed on paper and have value because the government says they have value.

Explanation: Commodity backed money is a situation where by the value of money is backed up by its purchasing power with which it can be traded with at request. The supply of many can not be more than the purchasing power the country holds.

3 0
3 years ago
Beginning January 1, Community Hospital had 150 inpatient beds. On July 1, the bed count was increased to 200. From January 1 to
Mamont248 [21]

Answer:

A=167.74

B 96.15%

C 95.43%

D 1.02 days

Explanation:

A)No of days in the year = 365

Total no of services days = 26106 + 35120 = 61226

Average daily census = 61226/365=167.74

B) Bed occupancy rate for January - June 3.

= Total number of inpatient days * 100/ Available beds * number of day

=26106*100/150*181=96.15%

C)Bed occupancy rate for July - December=

Total number of inpatient days * 100/ Available beds * number of day

35120*100/200*184 = 95.43%

D)

ALOS (Average length of days)=Total inpatient days /Total Discharges

61226 + 9601/59788 + 9588= 1.02days

7 0
2 years ago
For the scenario below, determine the legality of the company's actions.
IgorLugansk [536]

Answer:

Option C because it is impossible to determine the legality based on the facts given.

Explanation:

5 0
3 years ago
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