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4 years ago

PB1.

Business

1 answer:

Lunna [17]4 years ago

7 0

Answer:

Hicks

Income Statement for the year ended December 31, 2017

Sales revenue 3,100,000

Cost of goods sold (1,700,000)

Gross profit 1,400,000

Administrative salaries (136,000)

Rent on corporate headquarters (65,000)

Advertisement and marketing (625,000)

Depreciation (90,000)

Net income  484,000

Explanation:

Gross profit is calculated by deducting cost of goods sold from sales revenue. All the expenses will be deducted from the gross profit in order to obtain the net income for the year ended December 31, 2017.

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Markets distribute goods and services based on _____. A. revenue B. price C. profits

andrew11 [14]

The correct answer to this question is this one: A. revenue. By definition, a revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers. So hope this helps answer your question.

6 0

4 years ago

Read 2 more answers

Given these observed times (in minutes) for four elements of a job, determine the observed time (OT) for each element. Note: the

8090 [49]

Answer:

Element 1 = 4.17 Observed time

Element 2 = 1.77 Observed time

Element 3 = 3.33 Observed time

Element 4 = 2.8 Observed time

Explanation:

Calculation to determine the observed time (OT) for each element

Based on the information given we have 4 Element and 6 Cycle for Element 1,3 and 4 while Element 2 has 3 cycle

First step is sum up each element cycle i.e addition of cycle 1 to cycle 6

Element Cycle 1 Cycle 2 Cycle 3 Cycle 4 Cycle 5 Cycle 6

1. 4.1 +4.0 +4.6 + 4.1 +4.1 + 4.1 = 25

2. - 1.5 - 2.4 - 1.4 =(1.5+2.4+1.4)=5.3

3. 3.2 +3.2 +3.8 +3.2+ 3.3 +3.3= 20

4. 2.7 +3.0 +2.7 +2.8 +2.8+ 2.8 = 16.8

Now let find the Observed time by dividing the figure that was sum up for each of the element by the numbers of cycle that each element has.

OBSERVED TIME

Element Cycle 1 Cycle 2 Cycle 3 Cycle 4 Cycle 5 Cycle 6

1. 4.1 +4.0 +4.6 + 4.1 +4.1 + 4.1 = 25/6= 4.17 Observed time

2. - 1.5 - 2.4 - 1.4 =(1.5+2.4+1.4)=5.3/3=1.77 Observed time

3. 3.2 +3.2 +3.8 +3.2+ 3.3 +3.3= 20/6= 3.33 Observed time

4. 2.7 +3.0 +2.7 +2.8 +2.8+ 2.8 = 16.8/6=2.8 Observed time

6 0

3 years ago

Incident Reports, such as Situation Reports and Status Reports enhance situational awareness and ensure that personnel can acces

Irina-Kira [14]

Answer:

The correct answer is True.

Explanation:

An incident report is a tool that records any event that could cause injury to people or damage to company assets. It should include almost accidents, damage to property and equipment, health and safety issues, safety violations and misconduct in the workplace.

Incident reports could be used to discover potential risks and hazards in the workplace and to raise awareness about these problems. That is why it is important to add an analysis of the causes and effects of any incident to avoid similar situations in the future.

7 0

3 years ago

The Adjusted Trial Balance section of the worksheet for Van Zant Janitorial Supplies follows. The owner made no additional inves

Tasya [4]

Answer:

$\left[\begin{array}{ccc}Account&DEBIT&CREDIT\\$Cash&18,900&-\\$Account\: Receivable&60,100&\\$Allowance \: doubful \: accounts&&150\\$Inventory&186,500&\\$Supplies&7,170&\\$Prepaid Insurnace&3,090&\\$Equipment&51,300&-\\$Acc \: Dep \: Equipment&-&18,100\\$Accounts \: Payable&&9,000\\$SS \: tax \: payable&&1420\\$Medicare \: tax \: payable&&340\\$Capital&&298,050\\&327,060&327,060\\\end{array}\right]$

Explanation:

The sales, expenses, income summary and drawings accounts will be closed therefore will not be part of the post-closed trial balance.

Thew capital Account will suffer the net change of all these account thus, we can list the assets and liabilities and then, solve for Capital by the difference:

Assets = Laibilities + Equity

327,060 = 150 + 18,100 + 9,000 + 1,420 + 340 + Capital

Capital = 327,060 - (150 + 18,100 + 9,000 + 1,420 + 340)

Capital = 298,050

3 0

3 years ago

Au Sable Corporation reported taxable income of $760,000 in year 2 and paid federal income taxes of $176,500. Not included in th

butalik [34]

Answer:

$726,500

Explanation:

The computation of current earnings and profits for year 2 is shown below:-

current earnings and profits for year 2 = Profit as per Income Tax - Penalty disallowed + Life insurance proceed - Tax Expenses

= $760,000 - $42,000 + $185,000 - $176,500

= $945,000 - $42,000 - $176,500

= $726,500

Therefore we have applied the above formula to reach out the current earnings and profits for year 2.

5 0

3 years ago