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2 years ago

Consider the following income statement for the Heir Jordan Corporation:

Business

1 answer:

vivado [14]2 years ago

5 0

Answer:

HEIR JORDAN CORPORATION

The projected addition to retained earnings is $5,743.

Explanation:

a) Data and Calculations:

HEIR JORDAN CORPORATION

Income Statement Current Year Projected

Sales $ 49,000 $58,800 ($49,000 * 1.2)

Costs 40,300 48,360 (40,300 * 1.2)

Taxable income $ 8,700 10,440 (8,700 * 1.2)

Taxes (22%) 1,914 2,297 (1,914 * 1.2)

Net income $ 6,786 8,143 (6,786 * 1.2)

Dividends $ 2,400 2,400

Addition to retained earnings 4,386 5,743

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When did Toronto pearsonAirport(Canada) start using technology or scanner

mote1985 [20]

Answer:

Canada's busiest airport will soon start to use artificial intelligence- powered technology to detect weapons.
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2 years ago

Art is a self-employed installer of home entertainment systems, and he drives his car frequently to installation locations. Art

kap26 [50]

Answer:

Explanation:

The expenses that Ryan can deduct for the business trips he had is calculated by summing up the expenses he had with regards to gasoline and the depreciation.

Cost of gasoline = (3,760 miles)($1,590/18,800 miles) = $318

Cost of depreciation = $4,800

Adding the costs will give us an answer of $5118.

Answer: $5,118

3 0

2 years ago

Which of the following activities is not a component of the operating cycle?A)Sale of merchandiseB)Payment of employees' salarie

Sloan [31]

Answer:

B)Payment of employees' salaries

Explanation:

Operating cycle: The operating cycle is that cycle in which the firm makes the collection of cash with respect to the sales and make the payment with respect to the purchase of the inventory

The cycle start from days of inventory outstanding, days of sales outstanding, and days of payable outstanding

In mathematically,

Operating cycle = days of inventory outstanding + days of sales outstanding - days of payable outstanding

Thus, option B is correct.

8 0

2 years ago

When brainstorming, you should go for quantity over quality. true or false?

Misha Larkins [42]

The answer for the question is true

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2 years ago

Required information The Foundational 15 [LO5-1, LO5-3, LO5-4, LO5-5, LO5-6, LO5-7, LO5-8] [The following information applies to

Romashka-Z-Leto [24]

Answer:

$5,000

Explanation:

Sales $20,000

Variable expenses $12,000

Contribution margin $8,000

Fixed expenses $6,000

Net operating income $2,000

margin of safety in $ = current sales level - break even point

margin of safety in % = (current sales level - break even point) / current sales level

first we need to calculate the contribution margin per unit = $20 - $12 = $8 per unit

break even point = fixed costs / contribution margin = $6,000 / $8 = 750 units

sales level at break even point = 750 x $20 = $15,000

margin of safety in $ = $20,000 - $15,000 = $5,000

margin of safety = ($20,000 - $15,000) / $20,000 = $5,000 / $20,000 = 25%

5 0

2 years ago