A.Tammy's little sister starts visiting online chat rooms to make friends
Answer:
Retained earnings balance =$54,700
Explanation:
Retained earnings is the proportion of profit made by a company which is not distributed as dividend but rather re-couped to be re-invested. A payment of dividend would reduce the balance of retained earnings while further profit retained increases it.
The balance of retained earnings at the end = opening balance + profit retained for the year - dividend paid for the year
= 33,400 + 36,500 - 15,200 = $54,700
Retained earnings balance =$54,700
Answer: $25000
Explanation:
From the question, we are informed that Betty made a 20% profit on a residential lot she sold for $30,000. Let the cost price of the property be represented by x.
Therefore, (100% + 20%) of x = $30000. This means that 120% of x = $30000.
120% × x = $30000
1.2x = $30000
x = $30000/1.2
x = $25000
Therefore, the amount paid for the property is $25000
Answer:
<u>Contribution Margin Income Statement for the year end MM DD, YY</u>
$ $
Sales revenue ($100 per unit) 66,000
Less: Variable Cost
Less cost of goods sold ($56 per unit) 36,960
Commissions expense ($6 per unit) 3,960
Shipping expense ($3 per unit) <u> 1,980 </u>
<u> 42,900 </u>
Contribution Margin 23,100
Less: Fixed Cost
Salaries expense 7,900
Advertising expense <u> 5,800 </u>
<u> 13,700 </u>
Net Income <u> 9,400</u>
Answer:
Tom can afford 6 rentals and his utility is at maximum level, when he consumes 8 slices of pizza and rents 8 movies per week.
Explanation:
For the given utility equation 24$= 6*slice of pizza + 3*rented movie, where pizza levels are 1,2,3 and 4, we have:
24 = 6*1 + 3* x
x = 6
24 = 6*2 + 3*x
x = 4
24 = 6*3 +3*x
x = 2
24 = 6*4 + 3*x
x= 0
His total utility is the sum of given utilities per week, which he has from slices of pizza eaten and movies rented. Therefore he should consume 8 slices of pizza and rent 8 movies per week.
