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3 years ago

Waddell Company had the following balances in its accounting records as of December 31, 2015:

1 answer:

8 0

a. The amount of land on the balance sheet will be $36,000 which is historical cost of the land. Land is not subject to depreciation so it is recorded at historical cost and not carrying value.

b. The amount of rent expense reported on Income statement will be $5,500 [ $ 6,000 * 11 /12 months ]

c. The total amount of liabilities reported on the balance sheet will be $43,800. This includes the contingent liabilities and warranties.

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Which of the following are degrees of conflict:

Rasek [7]

Answer:

Answer is Mild difference.

Explanation:

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5 0

3 years ago

Read 2 more answers

Esmeralda promises to pay fiorello $400 because ""he does not have as much money as other people. "" esmeralda’s promise is not

Butoxors [25]

Esmeralda's promise is not enforceable because society does not want gifts cheapened by making them legally enforceable because society does not want gifts cheapened by making them legally enforceable.

A legally enforceable contract means that you can keep the promise of the other party. If the other party fails or refuses to meet its obligations, the contract can be fulfilled in accordance with the law.

A non-enforceable contract or transaction is valid but not enforced by the court. Unenforceable is typically used in conflict with void (or void ab initio) and voidable. If the parties implement the agreement, it is valid, otherwise, the court will not enforce them.

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2 years ago

If the price charged for a candy bar is p cents, then x thousand candy bars will be sold in a certain city, where p = 8 - . how

coldgirl [10]

992 candy bars must be sold to maximize revenue.

<h3>What is revenue?</h3>

The total amount of income generated by the sale of goods and services related to the primary operations of the business is referred to as revenue in accounting.
Commercial revenue is also known as sales or turnover.
Some businesses make money by charging interest, royalties, or other fees.

To find how many candy bars must be sold to maximize revenue:

The price of a candy bar is determined by the quantity sold:

p(x) = 124 - (x/16) where x is in 1000s.

If the candy bar's price is p(x), the revenue function is:

R(x) = p(x) · x = 124 · x - x²/16

Find the solution of R'(x) = 0 to maximize R(x):

R'(x) = 124 - x/8
124 - x/8 = 0
x = 992

Therefore, 992 candy bars must be sold to maximize revenue.

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The correct question is given below:
If the price of a candy bar is p(x) cents then x thousand candy bars are sold. The price p(x) = 124-(x/16). How many candy bars must be sold to maximize revenue?

6 0

1 year ago

The trial balance of Rollins Inc. included the following accounts as of December 31, 2021:

Alinara [238K]

Answer:

Net income = $725,625

Earnings per share = $7.26 per share

Explanation:

The multiple-step income statement refers to an income statement that displays gross profit obtained as sales revenue minus cost of goods sold, and also shows an organization's operating revenues and operating expenses separately from its nonoperating revenues or gains and expenses or losses.

The multiple-step income statement can be prepared as follows:

Rollins Inc.

multiple-step income statement

For the Year Ended December 31, 2021

Details $ $

Sales Revenue 5,400,000

Cost of goods sold (3,950,000)

Gross profit 1,450,000

Operating expenses:

Selling expense (350,000)

General and admin expense (250,000)

Total operating expenses (600,000)

Operating income 850,000

Interest revenue (expense):

Interest revenue 37,500

Interest expense (20,000)

Total Interest revenue (expense) 17,500

Other compreh. income (loss):

Loss on sale of investments (10,000)

Loss on debt investments (125,000)

Gain on projected ben. obligation 235,000

Total other compreh. income (loss) 100,000

Income before tax 967,500

Income taxes (w.1) (241,875)

Net income  725,625 

Earnings per share (w.2) 7.26

Workings:

w.1: Income taxes = Income before tax * Effective tax rate = $967,500 * 25% = $241,875

w.2: Earnings per share = Net income / Number of shares of stock outstanding throughout the year = $725,625 / 100,000 = $7.26

7 0

3 years ago

It is still customary in u.s. society for a bride to accept her husband's last name and for the bride's family to pay for the we

Ksivusya [100]

The customs of a bride taking her husband's last name and her family paying for the wedding represents a patriarchal line of authority. In a patriarchal line of authority, the man is considered the head of a family and descendants trace their heritage back through his line.

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3 years ago