What does the cio in a company do

Why is a mixed economy not considered a major economic system along with free enterprise and socialism?

Dahasolnce [82]

Mixed economy is not considered a major economic system along with free enterprise and socialism because the features of these economy are exactly the same with some of the features of free enterprise and socialism. Basically, this type of economic system is just a combination of the features of the free enterprise and socialism.

5 0

3 years ago

In its first year of operations, Grace Company reports the following:

ANEK [815]

Answer:

D) $25,000.

Explanation:

The Accrual Basis of Accounting is the process in which income earned or expenses incurred are recorded at the time the transaction takes place, whether or not the cash has been exchanged.

Net Income is derived by subtracting Expenses from Revenue.

N.B. Prepaid Expenses are Advance Payments towards expenses and are a Balance Sheet Items and will not be recorded under Net Income Calculations until the Expenses are realized.

So, The Net Income can be calculated as follows;

Revenue $60,000

Less: Expenses $35,000

Net Income $25,000

Hence Option D will be correct answer.

#NETINCOME

#PREPAIDEXPENSES

#ACCRUALBASISOFACCOUNTING

5 0

3 years ago

I In your business, assets, and liabilities have historically varied with sales. Assets are usually 82 percent of sales, and lia

Butoxors [25]

Answer and Explanation:

Computation table for Surplus amount:

Particular Current year Future year

Sales $168,000 $208,000

Less: Net Profit 11.99% of sales $20,143.8 $24,932.2

Cost (sales - 11.99%) $147,856.8 $183,060.8

Owner's payout 42% of cost $62,099.856 $76,885.536

Surplus (Cost - Owner payout) $85,756.944 $106,175.264

Computation table for additional financing fund:

Particular Current year Future year

Assets 82% of sales $137,760 $170,560

Less: Liabilities 54% of sales $90,720 $112,320

Additional Funding $47,040 $58,240

8 0

3 years ago

The Muffin House produces and sells a variety of muffins. The selling price per dozen is $20, variable costs are $14 per dozen,

topjm [15]

Answer:

Break-even point= 600 units

Explanation:

Giving the following information:

The selling price per dozen is $20, variable costs are $14 per dozen, and total fixed costs are $3600.

The break-even point in units is the number of units required to cover for the fixed costs. We need to use the following formula to calculate it:

Break-even point= fixed costs/ contribution margin

Break-even point= 3,600/ (20 - 14)= 600 units

7 0

4 years ago

At the end of its first year, the trial balance of Nygaard Company shows Equipment 532,900 and zero balances in Accumulated Depr

liq [111]

Answer:

Debit: Depreciation Equipment Expense: 4.400

Credit: Accumulated Depreciation Equipent: 4.400

Explanation:

As were never register any entry for Drepreciaton during the year, we must register the total ammount of the year.

The normal balance for the expense account is an expense and for the accumulated depreciation is a credit.

Lets go to see the T accounts:

EQUIPMENT

DEBIT CREDIT

532 900,00

Accumulated Depreciation

DEBIT CREDIT

4.400

Expense Depreciacion

DEBIT CREDIT

4.400

BALANCE SHEET PRESENTATION:

ASSETS

FIXED ASSETS

EQUIPMENT 532.000

Accumulated Depreciation -4.400

NET FIXED ASSETS 528.500

5 0

3 years ago