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AnnZ [28]
3 years ago
9

Calculate revenue. Revenue is the quantity sold times the price for the product. The quantity sold will be the smaller of the qu

antity supplied or the quantity demanded. (You can't sell more than you are willing to make even if the market demands a higher quantity. Likewise you can't sell more than is demanded even if you are willing to supply more than the quantity demanded.) You will need to calculate which of these values is smaller because quantity demanded will be smaller than quantity supplied for some prices, but not others.
Business
1 answer:
ira [324]3 years ago
3 0

Answer:

Revenue for Smart Suiting is $521,306.

Explanation:

Revenue is the business operational source of finance. IFRS has made standards for revenue recognition which need to be followed by all organizations. The revenue should be calculated after deducting trade and cash discounts. If there is any sales return it should be deducted from the gross revenue figure. Net revenue should be reported in the Income Statement.

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The balance sheet of Hidden Valley Farms reports total assets of $450,000 and $550,000 at the beginning and end of the year, res
Vadim26 [7]

Answer:

$50,000

Explanation:

Total Assets  at beginning                          $450,000

Total Assets at end                                    $550,000

Total Assets                                                $1,000,000

Average Total Assets=Total Assets/2=$1,000,000/2=$500,000

Return on assets=Net Income/Average Total Assets

10%=Net Income/$500,000

Net Income=$500,000*10%

Net Income=$50,000

7 0
3 years ago
The income statement of Blossom Company for the month of July shows net income of $3,310 based on Service Revenue $7,210, Salari
sergey [27]

Answer

Blossom Company

Income Statement

for the month of July  

                                                                                       $                        $

Revenues                                      (1)                                                      7,920

Salaries and Wages Expense      (2)                          2,540

Supplies Expense                         (3)                              710

Insurance expense                       (4)                              470

Depreciation Expenses                (5)                              250

Utilities Expense                                                        <u>      720</u>

 Total expenses                                                                                     <u>4,690</u>

Adjusted Net Income                                                                              <u>3,230</u>

Explanation

1. Revenues

Revenues per question                                                   $ 7,210

Unrecorded services (Note 5 in question)                     <u>$    710</u>

Adjusted revenues                                                          <u> $ 7,920</u>

2. Salaries and wages Expense

Salaries and wages expenses per question                  $ 2,220

Accrued wages not included (Note 4 in question)       <u> $    320 </u>

Adjusted Salaries and wages Expense                         <u> $ 2,540 </u>

3. Supplies Expense

Supplies Expenses per question                                     $   960

Supplies on hand to be adjusted ( Note 2 in quest,)      <u>$ (250)</u>

Adjusted Supplies Expenses                                            <u>$ 710</u>

4. Insurance expired to be expenses ( Note 1 in quest,  <u>$ 470</u>      

5. Depreciation to be recorded (Note3 in question)       <u>$ 250</u>

<u />

3 0
3 years ago
Given the historical cost of product Dominoe is $22, the selling price of product Dominoe is $30, costs to sell product Dominoe
olga_2 [115]

Answer:

Amount to be used to value inventory = $22

Explanation:

Inventories are generally valued at lower of cost or market value.

In that, cost is considered:

Net Realizable Value = Selling price less any cost = $30 - $5 = $25

Cost = $22

Since the Net Realizable Value is more than cost, replacement cost will not be considered.

Where NRV is less than cost, then replacement value is considered.

Here, Therefore inventory will be recorded as $22 at cost.

6 0
3 years ago
Discriminatory impulses in the labor market can emerge at a number of levels:
Mila [183]
Among workers the awnser is ?
8 0
3 years ago
Is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and contro
frez [133]

The correct answer is:  " management" .

____________________________

      "  <u>  Management  </u>  is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources. "

____________________________

An effective "mnemonic" for these 4 (four) components of management is:

"PLOC" ;  or more appropriate, in the order in which they occur:  "POLC" .

____________________________

Note that "organizational resources" include "data" (e.g. data management) ; as well as management of employees among various departments; hierarchies of management among departments;  supply chain marketing and management, and labor-management relations and human resources management.

Effective management skills include:  conceptual skills, technical skills, and human skills.

____________________________

4 0
3 years ago
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