Answer:
D.$3,950
Explanation:
Production = ($10,285 + $9,800 + $8,800) ÷ 5,450units
=$28,885÷5,450 units
= $5.3per unit
COGS = 3,300 units sold × $5.3 per unit
= $17,490
Net income = Revenue − Cost of goods sold − Selling and administrative expenses
Net income = (3,300 units × $7.80 per unit) − (3,300 units sold × $5.3per unit) − $4,300
=(25,740-17,490)-$4,300
= 8,250-$4300
=$3,950
Therefore Silverman's net income for the first year in operation is $3,950
A photocopier cost $105,000 when new and has accumulated depreciation of $96,000. if the business discards this plant asset, the result is a loss of 9,000.
During the asset's anticipated useful life, depreciation is allocated in order to charge a fair percentage of the depreciable amount in each accounting period. Amortization of assets with predetermined useful lives is included in depreciation. Depreciation enables businesses to recoup the cost of an item at the time of acquisition. Instead of collecting the full cost of an asset right away, the technique enables businesses to do so during the asset's lifecycle. This enables businesses to replace current assets with the necessary quantity of revenue in the future.
Subtract the asset's cost from its salvage value (what you anticipate it to be worth at the end of its useful life) to determine depreciation using the straight-line technique. The outcome is the amount or depreciable basis.
Depreciation = asset's cost - salvage value
Depreciation = $105,000 - $96,000
Depreciation = $9,000
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Answer:
Following are the answer to this question:
Explanation:
It is a great approach since it encourages and guarantees enhanced investment in infrastructure. Even so, a reduction in the possible future investment funds caused by government confidence will also result in business mistakes or failures throughout the investment process, and that's why the officials of the White House frequently exude a greater level of pride in prospects for the economic system than they feel.
The industry is currently in long-run equilibrium. The economy now goes into a recession and average incomes decline. The result will be an increase in output, but not in the price, of the product. This is further explained below.
<h3>What is a
product?</h3>
Generally,
In conclusion, The market is in a state of long-term balance. There is currently a drop in typical salaries and the economy is entering a recession. As a consequence, production will rise without corresponding increases in cost.
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In the study of internal control, the auditor uses sampling to compare the adjusted estimate of the deviation rate to the tolerable rate of deviation.
How Do Internal Controls Work?
A plan of structure, processes, and records that are concerned with the security of assets and the accuracy of financial records are together referred to as internal controls.
Fundamentals of Internal Control Systems
A firm's unique information requirements should be taken into account when designing an internal control system. As a result, the system might be anything from a straightforward manual system to a sophisticated computerized online system with remote terminals dispersed all over the nation. The accounting system must process data effectively, precisely, and promptly whether it is electronic or manual. An internal control system that has been carefully thought out is at the core of any well-designed accounting system.
Protecting the assets under management's control is one of their main duties.
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