Suppose you are running a carnival. You are selling hamburgers and sodas. A hamburger is $1.75 and a soda is .75. You expect to

Answer:

Increase in income= $1,215,000

Explanation:

Consider the following details:

Billings Company has the ensuing costs when manufacturing 100,000 units: Variable costs total $600,000, fixed costs are $900,000. An external supplier has proposed to produce the item for $4.50 per unit. Should the choice be made to outsource, the current production facilities might be rented out to another company for $165,000.

It is uncertain whether all fixed costs can be attributed to the current production facilities. We will assume they are.

Total current costs = 600,000 + 900,000 = $1,500,000

Purchase cost = 4.5*100,000 - 165,000 = 285,000

Income increase = 1,500,000 - 285,000 = $1,215,000

Answer:

Explanation:

a. On March 2

Debiting Accounts Receivable A/c $$887,400

                                             Crediting Sales A/c $$887,400

(Recognizing the sale of inventory at sale price)

Debiting Cost of Goods Sold A/c $

                    Crediting Merchandise Inventory A/c $571,700

(Recognizing merchandise sold at cost)

b. On March 8

Debiting Sales Return and Allowance A/c  $103,200

                                 Crediting Accounts Receivable  $103,200

(Recording the sales return)

Debiting Merchandise Inventory A/c  $62,500

                                        Crediting Cost of Goods Sold A/c  $62,500

(Recording the sales return)

c. On March 12

Debiting Cash A/c $768,516

Debiting Sales Discounts A/c $15,684

         Crediting Accounts Receivable A/c $784,200

(Recording cash received)

Calculating the balance owed is as follows:

= Sale of inventory - Returns

= $887,400 - $103,200

= $784,200

And the discount = $784,200 × 2% = 15,684

Answer:

1. Control and authority of owners - one vote corresponding to each share, easily transferable

2. Simplicity of establishment - necessitates government authorization

3. Ownership transferability - can be transferred without difficulty

4. Capacity to attract substantial capital - significant capability

5. Lifespan - Indefinite

6. Owners' liability - restricted

7. Status under law - recognized as a distinct legal entity

8. Tax implications for earnings - corporate earnings face taxation

Explanation:

A corporation represents a type of business:

1. To own a corporation, one must purchase its shares.

2. Establishing a corporation involves obtaining government sanctions and fulfilling numerous legal criteria.

3. Corporations can accumulate funds by selling shares, issuing bonds, and borrowing from banks and other financial institutions.

4. Shareholders' liability is confined to their invested capital.

5. Corporate earnings are subject to taxation, and distributions to shareholders also incur taxes.

6. A corporation exists as a legally separate entity.

7. A corporation can exist indefinitely.

8. Each share grants one vote.

I hope my response is beneficial to you

Answer:

The accurate choice is option C.

Explanation:

The opportunity cost tied to any economic choice represents the cost of relinquishing alternative options. We understand that resources are finite and can be allocated to different purposes, hence, using these resources for one matter necessitates a reduction in expenditure on alternatives.  

In this context, the parking space in the driveway could be utilized for personal purposes or rented out. The opportunity cost related to using that space for personal parking is the income that could have been achieved by renting it to others.