Answer:
E. Revenues
Explanation:
The sale of products or services brings about revenue to the business.
The revenue according to the accrual concept is recognized when an entity has performed its obligation of delivering goods or rendering services to its customers.
Sale revenue has the expenses deducted from it in a bid to ascertain the company's profitability or the bottomline
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Answer: $68,200
Explanation:
Estimated inventory = Difference between Goods available for Sale at Retail Price and Actual Sales made * Cost Retail Ratio
Retail value of Goods Available for Sale
= Retail Price of Beginning Inventory + Retail price of Purchases
= 120,000 + 480,000
= $600,000
Difference between Goods available for Sale at Retail Price and Actual Sales made
= 600,000 - 490,000
= $110,000
Cost to retail price ratio
= (Cost of Beginning Inventory + Cost of Purchases) / (Retail Price of Beginning Inventory + Retail Price of Purchases)
= (60,000 + 312,000) / (120,000 + 480,000)
= 62%
Ending inventory
= 110,000 × 62%
= $68,200
The herfindahl-hirschman index is calculated by summing the square of each company's market share.
In this case, the two firms separately would account for 628 of the herfindahl-hirschman index (12*12+22*22)
If the firms merge, they would account for 1,156 of the herfindahl-hirschman index (34*34)
This is an increase of 528 meaning the market is more concentrated.
Answer:
The amount that Gees Consulting would report as the ending balance in the R. Gees, Capital account at the end of the year is $8,000
Explanation:
For computing the ending balance of capital account, first, we have to compute the net income or loss which is shown below:
Net income/loss = Fees revenue - salary expense - rent expense - supplies expense
= $10,000 - $7,000 - $6,000 - $6,000
= ($19,000)
Now the ending balance would be
= Opening capital - net loss - drawings
= $18,000 - $9,000 - $1,000
= $8,000
