Answer:
$9,555
Explanation:
As for the trend provided, the year 3 Sales will also be $40,000
Cost of goods sold will be $25,000
gross margin = $15,000
Operating expenses are decreasing with time by 
Thus, it will decrease with the same trend = $7,000 - 22.22% = $5,445
Rounded off
Therefore, net income = $15,000 - $5,445 = $9,555
Note: Gain on sale of land is one time event and not permanent, thus it will not be considered as part of trend.
Answer:
Cost of inventory =$73,280
Explanation:
The term 3/10 implies that the company would get a discount of 3% off the gross purchase price if its settles its account within 10 days of purchase. Since the payment was made 9 days after then the discount is secured.
The cost of inventory = the net purchase price + the freight charges
Net purchase price = Gross amount - discounts
Net purchase price = 74,000 - (3%× 74,000)=$71780
The cost of inventory = 71,780 + 1500= 73280
Cost of inventory =$73,280
Answer:
A dismissal is when you end an employer's contract, with or without notice. Dismissal from work also occurs when an employee's fixed-term contract expires and you choose not to renew it. When should I dismiss someone?
Answer:
a. It is a collection of all accounts with their activity and balances that exist in a business. - A general ledger
The General Ledger is the central record in an accounting system and contains a record of all financial transactions in the company.
b. It is a book of original entry that includes a chronological record of all transactions that Have occurred within a business during a period occurred. - A Journal
When a transaction takes place in a business, it is recorded first in a Journal. As such, a journal contains a chronological record of all transactions that have occurred within a business during a period occurred.
c. It is a list of each account and its balance at any given time and is used to verify that debits = credits
. - Trial Balance
The Trial Balance helps a business balance its debits and credits by listing them so then equating them to verify that indeed the debits match the credits.
d. It is a list of all ledger accounts which exist in a business and includes an identification number assigned to each account
. - A chart of accounts
Cost of machine = $1,000
=
= $1,492.11
)=
= $75.13
Total NPV = -1000+1492.11+75.13 = $567.24 ≈ $567
