Explanation:
Breakeven=fixed cost/selling price - variable cost
so 14,300000/380-250
14,300000/130 = 110,000 units to be able to make break even
Answer:
KACY SPADE COMPANY TRIAL BALANCE AS AT 31st MAY 2016
DEBIT SIDE
Dr cash $94,850
Dr Account receivable 1575
Dr office supplies1,250
Dr Office equipment 10,050
Account payable 0
DrDividends10,000
DrRent expense1,225
Total$118,950
CREDIT SIDE
Cr Commonstock100,750
Cr Fees earned18,200
Totals$118,950
EXPLANATION
1.Cash
Dr a.100,750
Dr d.15,500
Dr h.1,125
Cr b.1,250
Cr e.10,050
Cr g.1,225
Cr i.10,000
The difference between both Debit and credit side =Balance 94,850
2.Accounts Receivable
Dr f.2,700 Cr b.1,125
The difference between both Debit and credit side Balance 1,575
3.Office Supplies
Dr a.1,250
Balance1,250
4. Office Equipment
Dr c.10,050
Balance 10,050
5.Accounts Payable
Dr e.10,050 Cr c.10,050
Balance 0
6.Common Stock
Cr a.100,750
Balance 100,750
7.Dividends
Dr i.10,000
Balance 10,000
8.Fees Earned
Cr d.15,500
Cr f.2,700
Balance 18,200
9. Rent Expense
Dr g.1,225
Balance 1,225
Answer:
The net income is $39,060
Explanation:
The computation of the net income is shown below:
As we know that
net income = Sales revenue - expenses
where,
Sales revenue is
= Camping fees revenues + general store revenues
= $139,400 + $30,600
= 170,000
And, the expenses is $130,940
So, the net income is
= $170,000 - $130,940
= $39,060
hence, the net income is $39,060
Answer:
(C). Basing the credit decision on the receipt of public assistance income.
Explanation:
According to the Equal Credit Opportunity Act, applicants who have the capacity to contract are eligible to apply for credit and should not be discriminated against by any creditor.
<u>The act prohibits the creditor from refusing to grant credit on the basis of</u> age, religion, race, sex, marital status, or <u>whether the applicant receives public assistance income.</u>