1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bezimeni [28]
2 years ago
10

The owner of a bicycle repair shop forecasts revenues of $160,000 a year. Variable costs will be $50,000, and rental costs for t

he shop are $30,000 a year. Depreciation on the repair tools will be $10,000. Prepare an income statement for the shop based on these estimates. The tax rate is 35%.
Business
1 answer:
Roman55 [17]2 years ago
6 0

Answer and Explanation:

The preparation of the income statement is presented below:

<u>Particulars        Amount </u>

Revenue           $160,000

Less:

Rental Costs       $30,000

Variable Costs     $50,000

Depreciation       $10,000

Profit before tax $70,000

Tax at 35%     -$24,500

Net Income     $45,500

Hence, the net income is $45,500

You might be interested in
the price of mangoes is currently $5.00 per pound at this price producers are supplying 4,000 pounds of mangoes point C on the g
sveticcg [70]
B.

You must simply follow your equilibrium point. If the new demand curve is at D2, then you find the new intersection formed by D2 and S1.
6 0
3 years ago
Read 2 more answers
Showing the relationship between evidence on the walls and the floors of a room, by flattening out the walls on the sketch, allo
pickupchik [31]

Answer:

cross-projection method.

Explanation:

Based on the information provided within the question it can be said that the best method to accomplish this task would be to use the cross-projection method. This method makes the floors and walls of a room appear as though they were on the same surface, thus allowing the user to measure the angle formed between two lines.

3 0
3 years ago
Using normal costing, which of the following is false about actual overhead?Select one:a. It is separated into many smaller acco
Natasha2012 [34]

Answer:

d. Actual overhead is recorded to the overhead control account during the period.

Explanation:

Actual overhead -

It is the indirect cost of the factory which have been incurred .

The example of  actual overhead costs are as follows -  

Factory depreciation  ,  Equipment maintenance  , Factory rent  , Production supplies   ,  Factory property taxes  , Production supervisor salaries

hence , from the given options , the false statement is ( d ) .

5 0
3 years ago
The owner of an interior lot has received notice that the city intends to place a sidewalk across his property. The lot measures
LUCKY_DIMON [66]

Answer:

<em>The amount that he will be charged in a special assessment tax to cover his cost of the sidewalk Is $2000  </em>

<em></em>

Explanation:

We are told that the property is an interior lot, so we'll only consider one of the width of his plot, since the sidewalk can only pass through the front or the back of his property.

The property measures 100' x 500' , that is 100 ft width by 500 ft length

The cost of the sidewalk is $40 per linear ft

The city will pick up 50% of the cost.

For a width of the lot, the cost per linear length will be

100 x $40 = $4000

The city covers 50% of this cost, leaving 50% of the cost to the homeowner.

The homeowner's cost will be 50% of $4000

= 0.5 x $4000 =<em> $2000  </em>

<em>The amount that he will be charged in a special assessment tax to cover his cost of the sidewalk Is $2000  </em>

7 0
3 years ago
Employtech, an employment research and consulting firm, completed a job analysis revealing that the primary skill required of ap
Katarina [22]

Answer:

a. deductive

Explanation:

Deductive reasoning can be described as a process of reaching a logical specific conclusion on an issue or providing a solution to a problem by reasoning from general rules or from one or more facts.

Application of deductive reasoning is important in any job as people will be required to apply it to make good decisions from a set of facts presented to them.

Therefore, the skill being identified by the job analysis is <u>deductive</u> reasoning.

6 0
3 years ago
Read 2 more answers
Other questions:
  • A master budget​ ________. A. is the initial plan of what the company intends to accomplish in the period and evolves from both
    7·2 answers
  • Which of the following are considered characteristics of money? I. Portable II. Uniform III. Divisible IV. Acceptable a. I and I
    12·1 answer
  • Suppose the revenue from producing​ (and selling) x units of a product is given by Upper R (x )equals 10 x minus . 04 x squared
    11·1 answer
  • Which of the following scenarios describe an object being acted on by a non-conservative force?a. A puck hovers and glides acros
    7·2 answers
  • A "price taker" is a firm that Question 8 options: does not have the ability to control the price of the product it sells. does
    7·1 answer
  • Foster, Inc., purchased a truck by paying $5,000 and borrowing the remaining $30,000 required to complete the transaction. Ident
    13·1 answer
  • Diana Mark is the president of ServicePro, Inc, a company that provides temporary employees for not-for-profit companies. Se rvi
    5·1 answer
  • 6. If consumers always spend 30 per cent of their income on food, then the income elasticity of demand for food is
    5·1 answer
  • Suppose that consumption decreases. What is the effect on investment and real interest rate? Analyze using graphs. Briefly descr
    9·1 answer
  • If a company paid $38,000 of its accounts payable in cash, what was the effect on the accounting equation? Multiple Choice Asset
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!