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2 years ago

Which annual financial statement tells what has been earned, what has been spent, and what is left over?

Business

1 answer:

gizmo_the_mogwai [7]2 years ago

8 0

Answer:

Income statement

Explanation:

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A blue-collar worker is someone in a professional or clerical job who usually earns a salary.

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18. Information gained by applying someone else's survey information to your business is called A. potential customer sourcing.

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On June 1, 2018, Cork Oak Corporation purchased a passenger automobile for 100 percent use in its business. The auto, with a cos

lubasha [3.4K]

Answer:

=$ 4400

Explanation:

Under the Macrs depreciation schedule, motor vehicles as assets have a useful life of 5 years. In the first year, the deprecation rate id 20%, followed by 32% in the second year.

For cork oak corporation: the value of the motor vehicle is 22,000

Date of purchase 2018, years in depreciation: 1

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2 years ago

Quest Outdoor Store orders River Run-brand kayaks from Sports Merchandise, Inc. Sports Merchandise ships kayaks of the wrong siz

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Answer:

Sports Merchandise

Explanation:

According to the situation that has been described in the question it can be said that the loss is suffered by Sports Merchandise. This is because a the seller of a good or product is liable for that product until the buyer purchases the product and decides to keep it. Which in this scenario since Sports Merchandise made a mistake on the product size and Quest decided not to accept the product then the responsibility and risk of loss remained with Sports Merchandise as the owner of the product.

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2 years ago

Carey Company had sales in 2016 of $1,560,000 on 60,000 units. Variable costs totaled $900,000, and fixed costs totaled $500,000

user100 [1]

Answer:

Results are below.

Explanation:

Giving the following information:

Selling price per unit= 1,560,000 / 60,000= $26

Unitary variable cost= 900,000 / 60,000= $15

Fixed costs= $500,000.

First, the income statement without the changes:

Sales= 1,560,000

Total varaible cost= (900,000)

Contribution margin= 660,000

Total fixed costs= (500,000)

Net operating income= 160,000

Now, with the changes:

Unitary variable cost= (15*0.8)= 12

Selling price= 26 - 1.5= $24.5

Sales in units= 60,000*1.05= 63,000

Fixed costs= 500,000 + 100,000= $600,000

Sales= 24.5*63,000= 1,543,500

Total variable cost= (12*63,000)= (756,000)

Total contribution margin= 787,500

Fixed costs= (600,000)

Net operating income= 187,500

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2 years ago