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3 years ago

Explain how other income streams such as photography and merchandise will be useful for the business. (8)

Business

1 answer:

dolphi86 [110]3 years ago

7 0

Answer:

Income streams such as photography and merchandise will be useful for the business is described below in detail.

Explanation:

The practices of photography are broad and therefore the businesses are extensive. the actuality is that if you are to sustain as an expert photographer today, and if you are to have the sources to proceed with what you are really enthusiastic about, then that often includes being open to, and actively evolving, various income streams, not all of which you will be uniformly passionate about.

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A compound transaction was recorded as follows: debit Equipment, $5,000; debit Cash, $1500; credit Accounts Payable, $3,500. Thi

butalik [34]

The trial balance would disagree. It seems that the cash should be credited instead as the situation seems to me that the cash is being expended to pay for the equipment, and the remaining 3500 is liabilities. Therefore, the error should be corrected.

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3 years ago

Gorman is paid $10.50 per hour for a 35-hour workweek. This past week, he worked an extra 10 hours on a job at a pay rate of $13

denpristay [2]

Answer:

The first 40 hours of payment will be payed at $10.5 per which will amount to a total of $420 and his last 5 hours he will be payed at $13 which will amount to a total of $65.

So his total earning for the 45 hours of work are $485

Explanation:

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3 years ago

The following information concerns the intangible assets of Epstein Corporation: On June 30, 2021, Epstein completed the acquisi

Fittoniya [83]

Answers:

a. Acquisition of cost of corporation = $2,420,000

Less: Fair value of net identifiable assets = $2,050,000

Cost of good will = $370,000

Note: Goods will is not amortized

b. Cost of patent purchase = $91,200

Legal life = 13 years

Estimated useful life= 8 years

Ammortization = Cost / Estimated useful life

= $91,200/8 years

=$11,400

Ammortization per annum is $11,400

Patent is purchased on 30/6/2021

Calculation of amortization for 6 months periods

Amortization for 6 months (July-December)= $11,400 * 6/12

=$5,700

Note: Amortization should be amortized on basis of their amortized value that is, 8 years.

c. Calculation of amortization cost for franchise

Cost = $250,800

Life=11

Purchased on 1/10/2021

Amortization = Cost / Estimated useful life

= $250,080/11

=$22,800

Amortization per annum is $22,800

Calculation of the amortization for 3 month period=

Amortization of 3 month (Oct-Dec.) = $22,800 * 3/12

=$5,700

d, Journal Entries Debit$ Credit$

Amortization Expenses 5,700

Patent 5,700

(To record the amortization expenses)

Amortization Expenses 5,700

Franchise 5,700

(To record the amortization expenses)

e. Partial Balance Sheet

Assets $ $

Current Assets

Long term Assets

Tangible assets 2,050,000

Intangible assets

Goodwill 370,000

Patent 91,200

Less: Accumulated Depreciation 11,400 79,800

Franchise 250,800

Less: Accumulated Depreciation 22,800 228,000

6 0

3 years ago

Suppose that there are two cities that are alike in every way except that one city has significantly better weather than the oth

Lelechka [254]

Answer:

bad weather

good weather

upward

fall

Explanation:

8 0

3 years ago

Cobe Company has already manufactured 18,000 units of Product A at a cost of $15 per unit. The 18,000 units can be sold at this

ser-zykov [4K]

Answer:

Explanation:

Workings

Product A

Selling price 410,000

Income 1 410,000

Further processing

Incremental cost 290,000

Product B 5900 102 601,800

Product C 11,900 60 714,000

Total revenue 1,315,800

Incremental cost 290,000

Income 2 1,025,800

Income on further process , that is if an additional cost of 290,000 is spent on the initial cost that generated the sales of 410,000 = 1,025,800

Incremental income on further processing =1,025,800-410,000 = 615,800

Therefore , it is advised that it should be processed further.

4 0

3 years ago