Answer:
$18,290
Explanation:
The computation of the cost of goods sold is given below;
The profit after tax is
= Retained earnings + dividend
= $411 + $285
= $696
The profit before tax = $696 ÷ (1 - Tax rate)
= $696 ÷ (1 - 0.35)
= $1,071
Now
Sales = $24,646
Let us assume the Cost of goods sold be X
admin expenses = $4,370
Depreciation = $812
Interest = $103
Profit before tax = $1.071
Cost of goods sold (X) = $24,646 - $4,370 - $812 - $103 - $1,071
= $18,290
Answer:
$31000 will be allowed as expenditure
Explanation:
given data
Wheelchair = $10,000
Whirlpool bath = $10,000
Maintenance = $1,000
Increased utility bills = $1,000
various home modifications = $10,000
solution
as here value of the home increased = $1000
and that is increaed utility bill of the whirlpool
so that expenditure will be added to value of asset
so
total expenditure is = $10000 + $10000 + $10000 + $1000 = $31000
so $31000 will be allowed as expenditure
Answer:
The correct answer is (d)
Explanation:
Elasticity means a change in price will change the supply or demand more than the price change. If the demand is inelastic, then the increase in price will increase the tax revenues because the demand will not change much compared to the price change. Likewise, this phenomenon is the same in the case of supply; the increase in taxes will decrease the overall quantity supplied, which will decrease the overall tax collection or tax revenue.
Answer
The answer and procedures of the exercise are attached in the following images.
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the formulas indications.
Answer:
Option (A) is correct.
Explanation:
On January 1st,
Total assets = Total liabilities + share holders equity
= 640,000 + 580,000
= 1,220,000
On December 31st,
Total assets = Total liabilities + share holders equity
= 630,000 + 620,000
= 1,250,000
Retained earnings closing = share holders equity increases - common stock issued
= (620,000-580,000) - 10,000
= 40,000 - 10,000
= 30,000
Retained earnings closing = Net income - Dividend declared
30,000 = $45,000 - Dividend declared
Dividend declared = $45,000 - $30,000
= $15,000
