1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Assoli18 [71]
2 years ago
11

An industry has many competitors, none of whom has significant control over price. In addition, it is easy to enter the industry

. This industry is an example of _____.
Business
1 answer:
Romashka [77]2 years ago
6 0
This is an example of how to work properly
You might be interested in
On November 1, 2018, ABC signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six mo
Kryger [21]

Answer:

ABC

In recording the payment of the note plus accrued interest at maturity on May 1, 2019, ABC would: __________

Journal Entries:

May 1, 2019:

Debit Interest Payable $1,000

Debit Interest Expense $2,000

Debit Notes Payable $100,000

Credit Cash $103,000

To record the payment of the note plus accrued interest at maturity.

Explanation:

a) Data and Calculations:

November 1, 2018:

6% 6-month Note Payable = $100,000

December 31, 2018:

Accrued interest = $1,000 ($100,000 * 6% * 2/12) for 2 months

May 1, 2019:

Interest Expense = $2,000 ($100,000 * 6% * 4/12) for 4 months

Transaction Analysis on May 1, 2019:

Interest Payable $1,000 Interest Expense $2,000 6% Notes Payable $100,000 Cash $103,000

6 0
2 years ago
An Uber driver faces costs for driving that include sunk costs like insurance that contribute to the average cost per mile of $.
crimeas [40]

Answer: sunk costs don't increase as driving increases.

Explanation: sunk costs are irrelevant costs because they have already occured in the past and cannot be avoided. Sunk costs thus do not differ between alternatives, and are unavoidable. The calculation for insurance and other sunk costs are likely not based on the amount of rides the Uber picks up, but rather calculated at a constant rate. So regardless of whether or not the rider pays more or less than the $.50 on the insurance, this will not have any effect on the insurance that is constant and has likely already been paid out.

4 0
3 years ago
For the past year, Momsen, Ltd., had sales of $46,382, interest expense of $3,854, cost of goods sold of $16,659, selling and ad
Ivenika [448]

Answer:

Net income= $11,412.2

Explanation:

Giving the following information:

sales of $46,382

interest expense of $3,854

cost of goods sold of $16,659

selling and administrative expense of $11,766

depreciation of $6,415

t=0.35

We need to use the following formula:

Net income= (sales - COGS - selling and administrative expense - interest expense - depreciation) - tax + depreciation

First, we deduct Depreciation to decrease the tax base, but because it is not an actual payment, we have to sum it after tax.

Sales= 46,382

COGS= (16,659)

Gross profit= 29,723

Selling and administrative expense= (11,766)

Interest=(3,854)

Depreciation= (6,415)

EBT= 7,688

Tax= (7,688*0.35)= (2,690.8)

Depreciation= 6,415

Net income= $11,412.2

6 0
3 years ago
If a researcher asks a consumer why s/he wants to buy a Nokia cell phone, and learns, "They look well built" (attribute); then a
ra1l [238]

Answer:

D. laddering

Explanation:

6 0
3 years ago
During 2013, its first year of operations, Neko's Bakery had revenues of $60,000 and expenses of $33,000. The business paid divi
lesya [120]

Answer:

$5,000

Explanation:

Stockholders Equity Includes the Add-in-capital par value, Add-in-capital excess value of Common and Preferred, Net income accumulated value and dividends.

Ending Stockholders Equity = Beginning Stockholders Equity + Income for the period - Dividend paid During the period

As first year of Operation the value of stockholders equity is considered as $0

Ending Stockholders Equity = $0 + ($60,000 - $33,000) - $22,000

Ending Stockholders Equity = $27,000 - $22,000

Ending Stockholders Equity = $5,000

7 0
3 years ago
Read 2 more answers
Other questions:
  • After the physical inventory is completed, unit costs are determined by dividing the quantities on the summary sheets by the tot
    6·1 answer
  • The following information was taken from the 2011 income statement of Ultimate Sales: Pretax income, $12,000; Total operating ex
    11·1 answer
  • Akram owns a small farm. He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The in
    13·1 answer
  • Consider two people who are currently out of work. Tim would like to work but he is not looking for work because there have been
    7·2 answers
  • Which of the following statements concerning capital structure theory is NOT CORRECT?
    8·1 answer
  • Serena, a bank manager at the United Front Bank, heads the business loan department. She wants to communicate to all of the bank
    9·1 answer
  • The _____ is an agency of the federal government that offers both managerial and financial assistance to small businesses.
    10·1 answer
  • Please see image I need help
    10·1 answer
  • Freda's Florist reported the following before-tax income statement items for the year ended December 31, 2018: Operating income
    13·1 answer
  • As inventory and property plant and equipment on the balance sheet are consumed, they are reflected: Select one: A. As a revenue
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!