Solution :
Assets = Liabilities + Paid in capital + retained earnings
1. $ 300,000 $ 300,000
2. $ 30,000 $ 30,000
3. $ 90,000 $ 90,000
4. $ 50,000 $ 50,000
5. $ 5,000 $ 5,000
6. $ 6,000 $ 6,000
7. $ 70,000 $ 70,000
8. --
9. $ 1,000 $ 1,000
Point 4 -- the accounts receivable will increase by $ 120,000 due to the credit sales and the cost of goods sold.
Point 6 -- Adjustments entry at the year end for 3 months from January to March 2022 should be reduced from both assets and retained earnings and the adjusted amount would be $ 4500.
Point 8 -- No impact as the cash is collected against the account receivable and both are assets.
Profit = $40,000
Given,
Total sales are $500,000
Total fixed costs are $300,000
Contribution margin ratio is 68%
Solution:
Profit = Total Sales × Contribution margin ratio − Total Fixed costs
= $500,000 × 68% − $300,00
=$340,000 −$300,000
Profit =$40,000
Profit:
Profit; also known as net income is the financial gain acquired when the amount of revenue generated by a company exceeds costs and expenses. Profit is the bottom line of a company′s income statement that shows the financial performance during the period.
Learn more about contribution margin :
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If the core part of the purchase is bad it increases dissatisfaction
Explanation:
A core product is a product or service of a company more closely related to its core competences. The central product allows the functionality, benefit or remedy to issues with which the customer orders the commodity.
For example, the core component of a car's ability to drive places at an easy speed is the core advantage.
When you can not give quality service to your clients, you would be disappointed and depressed, even though you can deliver them an outstanding key product.
