Answer:
$35,000
Explanation:
Gross Profit:
= Sales - Cost of Goods sold
= $560,000 - $400,000
= $160,000
Income before tax:
= Gross Profit - Salary Expense - Interest expense
= $160,000 - $40,000 - $30,000
= $90,000
Income after tax:
= Income before tax - Tax
= $90,000 - $25,000.
= $65,000
Transfer to Retained Earnings:
= Income after tax - Dividend
= $65,000 - $30,000
= $35,000
Closing Retained Earnings:
= Net Income (After tax) - Dividend payment
= $65,000 - $30,000
= $35,000
Answer:
$100 income, that added fees are only $600.
Thanks to technology, almost anyone to be global, with two varying results: Small companies can get started more easily but move slower.
<h3>Facts about Internet commerce </h3>
- Allows for more access to customers from around the world.
- Increases chances of profitability.
Small companies have smaller catalogues to sell and so can easily get involved in internet commerce. They however, are not as rich as large companies which means that they will not be able to invest enough to move as fast as large companies.
Find out more on internet commerce at brainly.com/question/6586612.
Answer:
A
Explanation:
the price cap is form of price ceiling
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Effects of a binding price ceiling
1. It leads to shortages
2. it leads to the development of black markets
3. it prevents producers from raising price beyond a certain price
4. It lowers the price consumers pay for a product. This increases consumer surplus
