The statement that provides the financial position of a company as of a specific date is the balance sheet.
<h3>What is a statement of financial position?</h3>
A balance sheet is often known as a statement of financial situation. It serves as a summary of a company's financial situation at a specific moment.
A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or another type of organization like the government or a not-for-profit entity.
An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet. It offers a snapshot of the assets and liabilities of a corporation as of the publication date.
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Answer: Supply of T-shirts decreasing
Explanation:
If the supply of T-shirts decreases, the equilibrium quantity of t-shirts being supplied to the market will decrease as well. Assuming that demand stays the same, the leftward shift of the supply curve will intersect with the demand curve at a higher equilibrium price.
This is simply because as the t-shirts are in short supply, people will be willing to pay more to have them as they are not as widespread as before.
<span>Grassroots lobbying, so called because it is carried out on the most basic level, includes urging group members to contact legislators. Such an action is designed to convince legislators of the breadth of concern and attention for a given issue on the part of private individuals.</span>
Answer:
Contribution margin per unit = $250
Contribution margin ratio = 55.56%
Explanation:
The computations are shown below:
Contribution margin per unit = Sale price per unit - variable cost per unit
= $450 - $200
= $250
Contribution margin ratio would be
= (Contribution margin per unit) ÷ (Sale price per unit) × 100
= ($250) ÷ ($450) × 100
= 55.56%
And, the contribution margin income statement for may month is presented below:
Sales (225 bikes × $450) $101,250
Less: Variable cost (225 bikes × $200) ($45,000)
Contribution margin $56,250
Less: Fixed expenses per month ($40,000)
Net income $16,250
Answer:
Logan Horse Ranch
The most accurate is:
e. None of the above are correct
Explanation:
Logan's payment to his brother, Luke, of $500 per hour, is not a reasonable business expense that can be deductible. Surely, $500 per hour is not a going rate for cleaning the horse stalls per hour. With Lucy doing grocery shopping for Logan, it does not resonate like an ordinary and necessary expense for the business. Therefore, options A to D are not correct. This leaves only option E as the most accurate.
