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lesya [120]
2 years ago
8

Mathematics for Business and Finance

Business
1 answer:
Marina CMI [18]2 years ago
8 0

Answer:

Explanation:

Apply first discount to original price

apply next discount to discounted price

etc

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Mostert Music Company had the following transactions in March: Sold music lessons to customers for $12,050; received $6,650 in c
bezimeni [28]

Answer:

Under Cash Basis all transactions for which cash is exchanged whether paid or received is accounted for.

Cash Basis Income Statement

Sales Revenue = $6,650

Customer Deposits = $4,550

Total Revenue = $11,200

Less: Expenses:

Wages              = ($700)

Net Income = $10,500

Under Accrual basis, the transactions are recorded as to the period they relate, and it is not necessary to exchange cash for the same.

Accrual Basis Income Statement

Sales Revenue = $12,050

Total Revenue = $12,050

Expenses

Wages = ($700)

Utilities = ($330)

Total Expenses = ($1,030)

Net Income = $11,020

7 0
3 years ago
Activity-based costing systems:
Harlamova29_29 [7]

Answer:

The correct answer is letter "B": Often reveal products that were under- or over-costed by traditional costing systems.

Explanation:

Activity-Based Costing or ABC is a managerial accounting method that assigns certain indirect costs to the products incurring the bulk of those costs. ABC is primarily used in the manufacturing sector to make a better calculation of the true cost of production per unit. Compared to the traditional costing method, ABC spots products that could be under-costed or over-costed.

3 0
3 years ago
Please can u explain 5 types of ledgers​
horsena [70]

Answer:

1. Sales ledger

2. Purchase ledger

3. Cash ledger

4. General ledger

8 0
3 years ago
Read 2 more answers
You receive three credit scores: 680, 705, 695. what is your average credit score?
Nataly_w [17]
The correct answer is 693.33333333.
6 0
3 years ago
Most economists believe that prices are:
BaLLatris [955]

Answer: Most economist believe that prices are flexible in the long run but many are sticky in the short run.

Explanation:

Prices are sticky in the short run because producers and buyers take time to adapt to new situations. If there is a shortage of butter, lets say, the economic theory says that the prices will rise because there is less butter ( ceteris paribus = all the other factors remain constant). Actually, buyers and suppliers need time to adapt to the new situation. However, in the long run buyers and suppliers have time to adapt to new situations so prices become more flexible.

8 0
3 years ago
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