C. Innovation is the creation of new, original ideas. Inventors are usually described as innovative. New inventions create new markets.
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Answer:
The correct answer is a) $24,000
Explanation:
At the end of the year, Morgan still holds $140,000 of this merchandise
Lewis Inc. owns 40% of Morgan and applies the equity method
40% = 0.4
$140,000 x 40% = $56,000
Lewis buys inventory costing $400,000 and sells it to Morgan for $700,000.
$700,000 - $400,000 = $300,000
=$56,000 x ($300,000 ÷ $700,000)
=$56,000 x 0,428571429
= $24,000
Answer:
The efficient outcome would be greater than 150 units.
The accounts that would affect the net income in the income statement are:
- (2) Merchandise inventory.
- (3) Cost of goods sold.
- (4) Transportation-out.
- (7) Selling expense.
- (8) Loss on the sale of land.
- (9) Sales revenue.
<h3>Which items affect net income?</h3>
The ending and beginning merchandise inventory play a role in the cost of goods sold which is deducted from net income.
Selling expenses such as transportation-out are also deducted as well as the loss on sale of land. Sales revenue is added to net income.
Find out more on accounts in the income statement at brainly.com/question/21851842.
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Answer: $230,400
Explanation:
The Retained earnings account is mainly used to record how much the company retains from its past and present net incomes after paying out dividends to shareholders.
Ending Balance = Beginning balance + Net income - dividends
= 294,000 + (-27,600) - 36,000
= $230,400
