Answer:
Paradise Travel Service
Balance Sheet as of May 31, 20Y6:
Assets:
Cash $52,000
Accounts receivable 38,000
Supplies 3,000
Land 450,000
Total assets $543,000
Liabilities and Equity:
Accounts payable 18,000
Common Stock 100,000
Retained Earnings 425,000
Total liabilities and
equity $543,000
Explanation:
a) Data and Calculations:
Paradise Travel Service
Income Statement for the year ended May 31, 20Y6:
Fees earned $900,000
Office expense 300,000
Miscellaneous expense 15,000
Wages expense 450,000
Total expenses 765,000
Net Income $135,000
Statement of Retained Earnings for the year ended May 31, 20Y6:
Retained Earnings, June 1, 20Y5 $300,000
Net Income 135,000
Dividends 10,000
Retained Earnings, May 31, 20Y6 $425,000
b) The balance sheet shows the balances of assets, liabilities and equity at the end of an accounting period. It derives its name from the accounting equation, which states that assets = liabilities + equity. This equation implies that the two sides always balance each other.
<h2>Humbert <u>High internal </u>locus of control</h2>
Explanation:
Let us understand the term internal locus of control.
Internal locus is having a high belief on oneself. The term can be explained in deeper saying, a person belief himself that he is sole responsible for the result which is derived from his own action.
For eg:
Every person would be expecting his school results. So depending on the result like pass or fail, a person with high internal locus believe that, he has done well so he got pass, or he has not prepared properly so he failed.
Answer:
$6.9
Explanation:
If gallon of milk cost 1.12 in 1970, we can calculate the expected price in 2009 per gallon of milk using the proportion below:
2009 price/214.5 = $1.12/38.8
=>Find the expected price of 2009 by cross multiplying
38.8 × 2009 price = 1.12 × 214.5
38.8 × 2009 price = 240.24
=>Divide both sides by 38.8
2009 price = 240.24/38.8
2009 price = 6.19175258 ≈ 6.19
Expected price of gallon of milk in 2009 = $6.19
Answer:
D. Strategic focus
Explanation:
Strategic focus or focus strategy is is when a company concentrates its resources in a narrowly defined part of the market (market segment). It allows businesses compete on basis of low cost, differentiation and rapid response against much larger businesses which also in turn has larger resources.
It's usually employed where the company or the firm knows the segment of the market and has products to competitively satisfy it's needs focusing on that narrow aspect of the market to build a strong competitive advantage.
