Answer:
Option 1 is correct because accumulated depreciation account is contra asset account and has a credit balance that is adjusted in the balance sheet. This accumlated depreciation is adjusted against the value of the asset when the asset is sold or disposed off.
Explanation:
Other options are incorrect because Accumulated depreciation is contra asset account and is credit in nature, not debit in nature. Furthermore, saying that accumulated depreciation account is contra revenue account which is also incorrect.
Answer:
$584,000
Explanation:
Calculation to determine what must their amount of sales be
Using this formula
Amount of Sales = (Fixed costs + Target profit) / Contribution margin percentage
Let plug in the formula
Amount of Sales = [42,400+(40,000+63,600) / (106000/424000)
Amount of Sales =(42,400+103,600) / (106,000/424,000)
Amount of Sales=146,000/0.25
Amount of Sales = $584,000
Therefore what The amount of sales will be Cover-to-Cover Company is $584,000
Answer:
The company reported $61,250 amount of Cost of Goods Sold
Explanation:
As gross profit percentage is the net percentage of sales revenue and cost of goods sold. We can find the cost of goods sold percentage as follow
Gross profit = Sales - Cost of Goods Sold
Placing the percentage
65% = 100 % - Cost of Goods sold
Cost of Goods sold = 100% - 65%
Cost of Goods sold = 35%
Now calculate the value of cost of goods sold using following formula
Cost of goods sold percentage = Cost of good sold / Sales Revenue
35% = Cost of Goods sold / $175,000
Cost of Goods sold = $175,000 x 35%
Cost of Goods sold = $61,250
Answer: Hi your question is incomplete attached below are the missing details
answer :
A) 16 used DVDs
B) i) $18
ii) $6
iii) $8
Explanation:
<u>A) Determine the weekly shortage of used DVDs due to ceiling price = $11</u>
shortage = Quantity demanded ( H ) - Quantity supplied ( F )
at ceiling price of $11 ; quantity demanded = 20 , Quantity supplied = 4
= 20 - 4 = 16 used DVDs
B) i) <em>New consumer surplus = ADLK </em>
ADLK = ∠ ABK + BKLD
= 1/2 * 4 * 1 ) + ( 15 - 11 )*4 = $18
<em>ii) New producer surplus = DLE </em>
DLE = 1/2 * 4 * ( 11-8 )
= $6
<em> iii) Total economic surplus lost </em>
ΔKJL = 1/2 ( 8 - 4 ) * ( 15 - 11 )
= $8
Answer:
$90,000
Explanation:
It is given that :
The pretax accounting income of Bryce Corporation 100,000
The interest on the municipal bonds - 7,000
The depreciation - 5,000
The difference in bad debt expense (3000-1000) <u> +2,000</u>
So the total income of Bryce Corporation $ 90,000
