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alexdok [17]
3 years ago
6

The following information was extracted from the 2014 financial statements of Max Company: Income from continuing operations bef

ore income tax $470,000 Selling and administrative expenses 320,000 Income from continuing operations 329,000 Gross profit 900,000 Income before extraordinary item 290,000 The amount reported for other expenses and losses is:_________ a. $141,000 b. $39,000. c. $110,000. d. $150,000.
Business
1 answer:
Lera25 [3.4K]3 years ago
8 0

Answer:

c. $110,000

Explanation:

The computation of the amount reported for other expenses and losses is shown below;

= Gross profit - Selling and administrative expenses - Income from continuing operations before income tax

= $900,000 - $320,000 - $470,000

= $110,000

Hence, the option c is correct

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Two Brothers Moving prepared the following sales​ budget: Month Cash Sales Credit Sales March $18000 April May June Credit colle
poizon [28]

Answer:  $‭104,360‬

Explanation:

The cash collections for June will be;

= June Cash sales +  (50 % *June credit sales ) + (43% * May credit sales) + ( 5% of April credit sales)

= 58,000 + (0.5 * 55,000) + (0.43 * 42,000) + ( 0.05 * 16,000)

= 58,000 + 27,500 + 18,060 + 800

= $‭104,360‬

8 0
3 years ago
Drag each tile to the correct box.
Fittoniya [83]

Answer:

Convenience checks: consumers use these to reduce their available credit in exchange for cash.

Installment loan: consumers make recurring fixed payments.

Introductory interest free: consumers can enjoy a set period of zero interest credit.

Revolving credit: consumers borrow an amount that they don’t have to pay off by a specific date.

Explanation:

In Business, credit can be defined as money or a loan facility agreed upon by a lender and a borrower, who is obligated to repay the lender at a specified date mostly with interest depending on the terms and conditions.

Credit generally decreases assets or increases liabilities and equity on the balance sheet of an organization.

3 0
3 years ago
Brown Cow Dairy uses the aging approach to estimate Bad Debt Expense. The balance of each account receivable is aged on the basi
mars1129 [50]

<u>Solution and Explanation:</u>

Age of the     Amount             Estimated                    Estimated

Receivables             Uncollectibles  Uncollectible Amounts    

1-30 days old    $12,000   3%                            $360

31-90 days old   $5,000   15%                              $750

more than 90

days old               $3,000   30%                     $900

Estimated year end Balances for Uncollectible Amounts   $2,010

Bad Debt Expense for the year : Estimated Uncollectible Amount - Existing Credit Balance in the Allowance Account

Bad Debt Expense : $2,010 minus $800 = 1210

If the existing balance is Debit Balance of $600.

Bad Debt Expense : $2,010 plus 600 = $2,610.

8 0
3 years ago
Which type of loan requires that you pay the interest accumulated during college?
MrRa [10]
The answer to this question is unsubsidized loan.
In unsubsidized loan for school payment, <span>the interest will be accumulated and be added to the principal amount of the total loan that you make.
The difference between unsubsidized and subsidized loan is that unlike in subsidized loan, the government do not pay for the loan interest for unsubsidized loan.</span>
3 0
4 years ago
Discuss this statement: "Internationalization is a relevant strategic option for high-tech venture expansion and growth." What m
juin [17]

Answer:

When a firm decides to situate its operations outside of its original geographic boundaries, it is said to have internationalized its operations.

It is right to acquiesce to the position that Internationalization can become a critical growth strategy for a high-tech venture.

Explanation:

Every country/economy in the world operates at different levels of efficiency with various degrees of economic advantages and disadvantages to the businesses. The one singular factor that validates this statement is the  Cost of Doing Business.

For example,

by virtue of China's huge population and economic strategies, its low cost of production (which was mainly due to cheap labour) became a great incentive to many tech companies all over the world especially IT.

By relocating production operations to China, many companies got the same quality for far less than they would have if they retained such operations in their home country.

One example of this is Apple. Apple currently has an operation in China which manufactures its iPhones with a production plant that is 230,000 staff strong.

Foxconn which is the name of the manufacturing partner which China uses boasts of the ability to produce half a million iPhones in a day.

On the 30th of July, 2020, USD 59.7 billion was posted by Apply as its earning. This is an 11% growth over its quarterly performance from a year ago of which 60% is accounted for by sales from international economies.

The above facts speak to the relevance/advantages of internationalisation.

Cheers!

7 0
4 years ago
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