The Fantastic Ice Cream Shoppe sold 8,800 servings of ice cream during June for Dollar 5 per serving. The shop purchases the ice cream in large tubs from the Deluxe Ice Cream Company. Each tub costs the shop $14 and has enough ice cream to fill 28 ice cream cones. The shop purchases the ice cream cones for $0.15 each from a local warehouse club. The Fantastic Ice Cream Shoppe is located in a strip mall, and rent for space is $2,050 per month. The shop expenses $220 a month for the depreciation of the shop's furniture and equipment. During June, the shop incurred an additional $2,800 of other operating expenses (75% of these were fixed costs).

Required:
a. Prepare the Fantastic Ice Cream Shoppe's June income statement using a traditional format.
b. Prepare the Fantastic Ice Cream Shoppe's June income statement using a contribution margin format

Answers

Answer 1

Answer:

The Fantastic Ice Cream Shoppe

a) Fantastic Ice Cream Shoppe

June Income Statement, using traditional format

Sales Revenue         $44,000

Cost of goods sold       5,720

Gross profit              $38,280

Expenses:

Rent expense             2,050

Depreciation exp.          220

Other operating exp. 2,800

Total expenses        $5,070

Net Income             $33,210

b) Fantastic Ice Cream Shoppe

June Income Statement, using contribution margin format

Sales Revenue                   $44,000

Direct materials      5,720

Operating expense  700

Total variable expense         6,420

Contribution margin         $37,580

Fixed expenses:

Rent expense             2,050

Depreciation exp.          220

Other operating exp.  2,100

Total expenses                  $4,370

Net income                      $33,210

Explanation:

a) Data and Calculations:

Sales of ice cream during June = 8,800 servings

Price per serving = $5

Sales revenue = $44,000 ($5 * 8,800)

Purchase cost of ice cream in large tubs = $14 * 8,800/28 = $4,400

Purchase cost of ice cream cones = $0.15 * 8,800 = $1,320

Total cost of direct materials = $5,720

Fixed costs:

Rent = $2,050 per month

Depreciation = $220

Other operating expenses:

Fixed operating expense = $2,100 ($2,800 * 75%)

Variable operating expense = $700 ($2,800 * 25%)


Related Questions

In a deed, the person or entity conveying the real property interest is more commonly referred to as the:

Answers

In a deed, the person or entity conveying the real property interest is more commonly referred to as the: Grantor.

Who is the Grantor?

The grantor in a property deed is the individual who owns the property that is to be sold. He confers the ownership rights of the property to the grantee.

The property that is transferred is referred to as the Grant.

Learn more about grantors here:

https://brainly.com/question/8052465

name and describe the element of a company's macro.envoirment and give example illustrating why each is important

Answers

The macro environment, in contrast, refers to larger variables that can have an impact on a firm. Demographic, ecological, political, economic, sociocultural, and technical aspects are a few examples of these variables.

What are the importance of macro environment's element?

Macroenvironment analysis is a component of strategic management for businesses, and it enables them to study and identify potential opportunities and risks that can have an impact on their business. The goal is to give management the knowledge they need to make informed operational decisions.

Financial stability and economic prosperity are promoted by favorable macroeconomic circumstances in a nation.

Thus, The macro environment, in contrast, refers to larger variables.

For more information about macro environment's element, click here

https://brainly.com/question/16080962

#SPJ1

As a concerned citizen, you have decided to write a letter to the editor of your local
newspaper about the minimum wage. In your letter, you may either support or oppose the
minimum wage. Your response should be three paragraphs. You may reference information
provided in the reading or outside resources and information to support your position. Write
your response on a separate sheet of paper titled, Minimum Wage Letter.

Answers

The sample letter as a concerned citizen to the editor of a newspaper is given below:

The Letter

Dear Editor,

I am writing to express my support for the minimum wage. With the cost of living increasing every day, it is imperative that workers are paid a fair and livable wage.

Opponents argue that increasing the minimum wage would lead to job loss and hurt small businesses.

Overall, I believe that raising the minimum wage is a necessary step towards a more just and equitable society.

It is time for our lawmakers to prioritize the needs of workers and ensure that everyone has the opportunity to earn a fair and livable wage.

Sincerely,

[Your Name]

Read more about letter writing here:

https://brainly.com/question/24623157

#SPJ1

A home furniture store, David's Furnishings, lowers its prices below those of
their competitors, Ada's Home Store. A price war then ensues. What must the
response of Ada's Home Store have been in order for the price war to begin?
A. Ada's Home Store started a marketing campaign against David's
Furnishings and their lower quality.
B. Ada's Home Store took David's Furnishings to court in an attempt
to make them raise their prices back up.
C. Ada's Home Store raised prices to show consumers that their
products are better.
O D. Ada's Home Store lowered prices even lower than David's
Furnishings did.

Answers

Answer:

d.

Explanation:

The response of Ada's Home Store has been in order for the price war to begin as  Ada's Home Store lowered prices even lower than David's Furnishings did. Thus option D  is correct.

What is the Price?

A price refers to the amount which takes place between two individuals when performing the exchange of goods and services. This price is determined by the willingness of both parties involved in the exchange.

A price war took place when the competitors lower their prices in order to retain more customers will create conflicts in the market.

In the given case when an organization named David's Furnishings lower its prices with its competitors to begin a price war the competitors also lower their prices in order to capture the market gain effectively.

Therefore, option D is appropriate.


learn more about the price, here:

https://brainly.com/question/18117910

#SPJ5

What is most likely to happen as a result of specialization?
Output per worker will increase
O Competition for resources will rise
O Machines will take everyone's jobs
O Individual workers' wages will decrease

Answers

Answer:

Output per worker will increase

Explanation:

Specialization means work is subdivided into smaller tasks. Each individual is assigned the task which suits them the most. In specialization, the individual focus on the assigned tasks only. They do the same job every day for a prolonged time.

By concentrating on a specific task, an employee becomes an expert on that job. Their efficiency increases, which results in an overall higher productivity per worker.

3. Find the loan-to-value ratio for a home appraised at $583,620.00 that the buyer will purchase for $585,000.00. The buyer plans to make a down payment of $175,000.00

Answers

Explanation:

The loan-to-value ratio is the amount of the mortgage compared with the value of the property. It is expressed as a percentage. If you get an $80,000 mortgage to buy a $100,000 home, then the loan-to-value is 80%, because you got a loan for 80% of the home's value.

When it comes to Reading as a communication skill, what does it mean to diversify?

Answers

to not be like others :)

Reading is the process of examining a string of letters and figuring out what they imply. One learns new words and viewpoints by reading.

What is communication skill ?

The most crucial life skill is probably the ability to communicate effectively. It is what makes it possible for us to communicate with others and comprehend what they are saying to us. Simply observing a baby trying to imitate its mother's sounds can give you an understanding of how basic the desire to communicate is. Your job life, social interactions, and every other part of your life can benefit from improving your communication abilities.

The range of abilities that reading comprehension encompasses can be applied to all facts of life. thus reading is considered as a best communication skill.

Learn more about communication skill, here;

https://brainly.com/question/23389907

#SPJ2

Businesses commonly rely upon groups to make decisions because of the many advantages to group decision making. Which of the following are advantages of group decision making? Check all that apply.


Enhanced communication of the decision may result.

Equality bias, which causes individuals to treat all group members as equally competent.

Better decisions generally emerge.

Groupthink may occur.

If you want to encourage group members to be innovative and creative in generating a list of decision alternatives, then it is best to use this approach.

Brainstorming
Delphi technique
Nominal group technique

Answers

Enhanced communication of the decision may result, Better decisions generally emerge, Brainstorming Delphi technique Nominal group technique.

What is decision-making in an organization?

Decision-making is the very essential component in the organization as the company is reliable on their decision. Maximum high level community of the organization makes the important and big decision of the company.

Thus, option A, B and F are correct.

For more details about decision-making in an organization, click here:

https://brainly.com/question/14782316

#SPJ1

Explain what us meant by the phrase “ethical behavior”.

Answers

Answer: Something is ethical if it does not cause harm and society considers it to be good. Ethical behavior is generally any action that furthers a good outcome for someone else without causing intentional harm to anyone.

Explanation:

If something produces no harm and is seen as morally upright by society, it is ethical. A general definition of ethical behavior is any action that helps someone else without intentionally hurting someone else.

What is “ethical behavior”?

Ethical behavior is characterized by honesty, justice, and equity in interpersonal, professional, and academic relationships as well as in research and intellectual endeavors.

A few examples of ethical workplace conduct include adhering to company standards, communicating clearly, accepting responsibility, being accountable, acting professionally, and having faith in and respect for your coworkers.

People must act morally if we want to speak the truth, keep our word, or help a complete stranger. An ethical framework that helps us avoid unfair results and makes decisions that have a good impact on the world serves as our guidance for daily decision-making.

Thus, If something produces no harm and is seen as morally upright by society.

For more information about ethical behavior, click here

https://brainly.com/question/15178939

#SPJ6

U.S. Treasury issues three types of Treasury securities: Treasury bills (T-bills), Treasury notes (T-notes), and Treasury bonds (T-bonds). The time to maturity (TTM) of T-bills is 12-month or less than 12-month. The TTM of T-notes is between 1 year and 10 years. The TTM of T-bonds is longer than 10 years. Which one(s) (T-bills, T-notes, or T-bonds) belong to the money market instrument(s)? Which one(s) belong to the capital market instrument(s)? If you would like to buy Treasury securities, which one(s) would you purchase? Explain why?

Answers

Answer:

Treasury bills (T-bills) are short-term money market instruments issued by the government to raise short-term funds. They are issued for terms of less than a year and are sold at a discount from their face value. T-bills have maturities of 4, 8, 13, 26, and 52 weeks. Therefore, T-bills belong to the money market instrument(s).

Treasury notes (T-notes) are issued with maturities from two to 10 years and pay interest semi-annually. Therefore, T-notes belong to the capital market instrument(s).

Treasury bonds (T-bonds) are long-term investments that have maturities of 10 to 30 years and also pay interest semi-annually. Therefore, T-bonds belong to the capital market instrument(s).

If you would like to buy Treasury securities, it depends on your investment goals. If you want a short-term investment with low risk and low return, you can consider buying T-bills. If you want a medium-term investment with moderate risk and moderate return, you can consider buying T-notes. If you want a long-term investment with high risk and high return, you can consider buying T-bonds.

Explanation:

I hope this helps

The regular selling price is $22 per unit. Costs are $16 per unit, which consists of $8 direct labor per unit, $3 direct materials per unit, $2 variable overhead per unit, and $3 fixed overhead per unit. Sales are low because of a recession. A large retail chain offered to buy 1,000 units from you at a discounted price of $16. Assume that you have enough spare capacity to fulfill this special order. If you accept the special order in the short term, profit will: Group of answer choices decrease by $6,000 decrease by $3,000 increase by $6,000 increase by $3,000 remain the same

Answers

Answer:

decrease by $6,000

Explanation:

The computation of the profit in the case when the special order is accepted is shown below:

given that

Regular selling price = 22

Discounted selling price= 16

number of units to be sold =1000

Now

discount = 1000 ×($22 - $16)

= $6,000

Hence, profit decreases by $6000

Therefore the option first is correct

The same would be considered

Training new personnel who just started working at the office fits under which administrative

task?

Facility management

clinical office management

scheduling

personnel management

Answers

Answer:

personnel management.

Explanation:

Training new personnel who just started working at the office fits under personnel management.

Personnel management can be defined as an administrative task or function which primarily involves the process of hiring employees and developing or training them to become beneficial and valuable for the growth and development of the company.

Hence, the main purpose and focus of personnel management is to provide a quality workforce necessary to successfully achieve the organizational set goals and objectives.

Fuel of R800 for the delivery truck was posted to the salaries and wages account, what is the accounting equation

Answers

Posting fuel expenses to the salaries and wages account is an error that disrupts the accounting equation. To rectify this mistake, the transaction should be reversed by debiting the correct account (Fuel) and crediting the incorrect account (Salaries and wages).

The accounting equation states that assets = liabilities + equity. It is a fundamental principle of accounting, and it is used to ensure that financial statements are accurate and balanced. This equation holds true for every transaction that a company makes, including the case when fuel of R800 for the delivery truck was posted to the salaries and wages account.

When fuel of R800 for the delivery truck was posted to the salaries and wages account, it is a mistake. The transaction was wrongly posted to the wrong account. Therefore, the accounting equation will not balance, as it is incorrect. To fix this error, the transaction should be reversed by debiting the salaries and wages account and crediting the fuel account, the correct account for the transaction.

The corrected journal entry will be: Debit Fuel account R800, Credit Salaries and wages account R800. This will balance the accounting equation and ensure that the financial statements are accurate. It is important to always ensure that transactions are posted to the correct accounts to maintain the accuracy of financial records.

For more such questions on accounting equation

https://brainly.com/question/1347011

#SPJ8

Smith, Inc., has the following stockholders’ equity accounts as of January 1, 2021: Preferred stock—$100 par, nonvoting and nonparticipating, 6% cumulative dividend $ 2,250,000 Common stock—$20 par value 4,250,000 Retained earnings 10,250,000 Haried Company purchases all of Smith's common stock on January 1, 2021, for $14,550,000. The preferred stock remains in the hands of outside parties. Any excess acquisition-date fair value will be assigned to franchise contracts with a 40-year remaining life. During 2021, Smith reports earning $700,000 in net income and declares $610,000 in cash dividends. Haried applies the equity method to this investment. What is the noncontrolling interest's share of consolidated net income for this period? What is the balance in the Investment in Smith account as of December 31, 2021? What consolidation entries are needed for 2021?

Answers

The specific consolidation entries would depend on the specific details of the transactions and the accounting policies adopted by the companies involved.

To determine the noncontrolling interest's share of consolidated net income for the period and the balance in the Investment in Smith account as of December 31, 2021, we need to calculate the noncontrolling interest's share of net income and the equity method adjustment.

1. Noncontrolling interest's share of consolidated net income for the period:

Net income for Smith, Inc. in 2021 is $700,000. Since Haried Company applies the equity method to its investment, it recognizes its share of Smith's net income as an increase in its Investment in Smith account.

Noncontrolling interest's share of consolidated net income = Net income for Smith, Inc. - Haried Company's share of net income

Net income for Smith, Inc. - Haried Company's share of net income = $700,000 - Haried Company's share of net income

2. Balance in the Investment in Smith account as of December 31, 2021:

The Investment in Smith account represents Haried Company's initial investment in Smith, Inc. and any subsequent adjustments based on the equity method. To calculate the balance in the Investment in Smith account as of December 31, 2021, we need to consider the initial investment, share of net income, dividends, and any equity method adjustments.

Balance in the Investment in Smith account as of December 31, 2021 = Initial investment + Haried Company's share of net income - Dividends +/- Equity method adjustments

3. Consolidation entries for 2021:

Since Haried Company applies the equity method, the consolidation entries for 2021 would involve recording the initial investment, recognizing Haried's share of Smith's net income, and adjusting for any dividends declared by Smith.

The specific consolidation entries would depend on the specific details of the transactions and the accounting policies adopted by the companies involved. Generally, the entries would involve debiting the Investment in Smith account for the initial investment, crediting the equity or investment income account for Haried's share of net income, and debiting the Investment in Smith account for any dividends received.

for more questions on accounting

https://brainly.com/question/30893897

#SPJ8

Given the information below, calculate the net cash provided from operating activities for Baskin Peter Pty. Ltd.

Receipts from customers $279,247

Payments for property, plant & equipment $42,310

Interest paid $4,231

Proceeds from issue shares $25,836
Payments to supplier and employees $220,013

Repayment of borrowings $53,331

GST paid $16,924

Payments for motor vehicle $37,985

Interest received $6,770

Select one:

$61,773

$44,849

$55,345

$49,080

Answers

To calculate the net cash provided from operating activities, we need to add up the cash inflows from operating activities and subtract the cash outflows from operating activities.

The cash inflows from operating activities are:

Receipts from customers: $279,247

Interest received: $6,770

Total cash inflows from operating activities: $286,017

The cash outflows from operating activities are:

Payments to suppliers and employees: $220,013

GST paid: $16,924

Total cash outflows from operating activities: $236,937

Therefore, the net cash provided from operating activities is:

Net cash provided from operating activities = Cash inflows from operating activities - Cash outflows from operating activities
Net cash provided from operating activities = $286,017 - $236,937
Net cash provided from operating activities = $49,080

Therefore, the net cash provided from operating activities for Baskin Peter Pty. Ltd. is $49,080.

So the answer is D) $49,080.

Match each type of insurance with an example of when the insurance
company would make a payment.
Renter's
insurance
?.
You cause an accident
that damages someone
else's car.
Liability coverage
?
You have to take a month
off from work because of
a broken leg.
Health insurance
2
Your stereo and computer
are stolen from your
apartment
Disability
insurance
?
You go to the emergency
room after a car accident.

Match each type of insurance with an example of when the insurancecompany would make a payment.Renter'sinsurance?.You

Answers

Answer:

See below

Explanation:

Renter's insurance

Your stereo and computer are stolen from your apartment.  Renters insurance provides coverage for policyholder's properties other than their dwelling place.

Liability coverage

You cause an accident that damages someone else's car. It protects against claims arising from damages to other people or their properties.

Health insurance

You go to the emergency room after a car accident. Offers insurance coverage for medical bills incurred by the policyholder or their dependents.

Disability Insurance

You have to take a month off from work because of a broken leg. Provides protection against loss of income as a result of serious bodily injuries to the policyholder.

Nevada plans to give companies additional funding for making products that reduce pollution. A car company, a2b, Only produces cars that run on gas. A career with this company has
existing demand right now and good projection for a demand in the future
existing demand right now but no projection for Demand in the future
no demand right now and no projection for demand in the future
no demand right now but good projection for demand in the future

Answers

Answer:

ANSWER IS B I GOT IT RIGHT

Explanation:

JUST DO IT!

Nevada plans to give companies additional funding for making products that reduce pollution. A car company, Only produces cars that run on gas. A career with this company has existing demand right now but no projection for Demand in the future. Option (b) is correct.

What do you mean by Company?

A company is a legal body created by a group of people to conduct and manage a business enterprise, whether it be commercial or industrial. Depending on the corporate legislation of its jurisdiction, a corporation may be set up in a variety of ways for tax and financial liability reasons.

Demand describes the consumer's desire and willingness to purchase a good or service at a specific time or over an extended period of time. Additionally, consumers must be able to afford the items they want or need based on their budgeted disposable income.

The link between supply and demand is crucial because it helps to establish the costs and availability of the majority of goods and services in a given market. The interplay between supply and demand eventually balances out in accordance with the tenets of a market economy.

Therefore, Option (b) is correct. Existing demand right now but no projection for Demand in the future.

Learn more about Company, here;

https://brainly.com/question/29354835

#SPJ2

In which of these do homeowners own BOTH the home and the
land it sits on?

cooperative
timeshare
condominium
townhouse

Answers

Answer:

time share is the answer or townhous

"Group decision making is better". Do you agree or disagree with the statement? Give 3 reasons why do you say so?​

Answers

Answer:

I agree because it make the group bring out more ideals

sometimes group decision make some people to voice out their problems

group decision help organization and firms to operate in good aims

Which element of an advertising plan facilitates a high recall value for an advertisement?
A. advertising strategy
B. creative execution
C. creative media
D. creative idea

Answers

The element of an advertising plan which facilitates a high recall value for an advertisement is advertising strategy.

What are the elements of an advertising plan?

An advertising plan is a document created with the goal of matching the most effective message to your audience.

....

Budget.

How much advertising plan you can afford to do.What media options you can afford to persue.How broad a target audience you can attempt to reach.

       Advertising Strategy: A promoting technique can be characterized as a bit by bit intend to arrive at your clients and to persuade them to purchase your items. A very much arranged publicizing methodology conveys the advantages of your item as well as convince your clients to pick your item over the results of your rivals.

To know more about advertising strategy from the given link:

https://brainly.com/question/24967768

#SPJ9

Answer:cretive idea

Explanation:

Purely commercial speech (speech with no political implications whatsoever) is entitled to Blank______ so long as the speech was truthful and concerned a lawful activity. Multiple choice question.

Answers

Purely commercial speech (speech with no political implications whatsoever) is entitled to Blank protection so long as the speech was truthful and concerned a lawful activity.

What is commercial speech?

Commercial speech is any speech that is not political.

This speech may not be protected and can be regulated or controlled incase of any misleading information.

Examples of such speech is an advertisement or solicitations for help.

Therefore, Purely commercial speech (speech with no political implications whatsoever) is entitled to Blank protection so long as the speech was truthful and concerned a lawful activity.

Learn more on speech below

https://brainly.com/question/26157848

#SPJ1

f) In a financial crisis, would it be preferable for the government to stabilise the economy using fiscal or monetary policy?

Answers

In a financial crisis, both fiscal and monetary policies can be used to stabilize the economy, but their effectiveness and appropriateness may vary depending on the specific circumstances and goals of policymakers.

Fiscal policy refers to the use of government spending and taxation to influence the economy. In a financial crisis, the government can implement expansionary fiscal policies, such as increasing government spending or reducing taxes, to stimulate economic activity.

This can help boost consumer and business spending, create jobs, and restore confidence in the economy.

Fiscal policy can also be targeted to provide direct assistance to industries or sectors that are most affected by the crisis, such as providing financial support to struggling businesses or implementing social safety net programs to support individuals and families in need.

Monetary policy, on the other hand, is conducted by central banks and involves the manipulation of interest rates and the money supply to influence economic activity.

In a financial crisis, central banks can employ expansionary monetary policies, such as lowering interest rates or implementing quantitative easing measures, to encourage borrowing and investment, stimulate lending by financial institutions, and provide liquidity to the markets.

These actions aim to promote economic growth, stabilize financial markets, and restore confidence among investors and businesses.

The preference for fiscal or monetary policy in a financial crisis depends on several factors, including the nature and severity of the crisis, the policy tools available, and the economic conditions.

In general, fiscal policy may be more effective in addressing structural issues or long-term challenges, as it can directly target specific sectors or provide substantial stimulus to the economy. Monetary policy, on the other hand, can act more swiftly and is often used to address short-term fluctuations or liquidity issues in financial markets.

For more such questions on  monetary policies visit:

https://brainly.com/question/6583917

#SPJ8

Managers typically monitor inventory very closely to ensure that sufficient units are available for sale and to prevent inventory from becoming :__________

Answers

Managers frequently keep a close eye on inventory to make sure there are enough units for sale and to keep it from deteriorating.

Inventory control is the process of maximizing the storage of inventory to guarantee that a company has the optimal inventory levels required to promptly fill customer orders. Inventory control aims to help brands maintain only the appropriate quantities on hand without incurring excessive upfront costs or compromising customer pleasure.

Inventory management includes inventory control, which is quite similar.

Inventory control is heavily involved in warehouse system management and is more heavily concentrated at the operations level. It includes everything from scanning new products in real-time on the warehouse floor to getting units ready for kitting and assembly.

The high-level management of inventory includes everything from raw materials to stocked commodities. Ordering and replenishing inventory, carefully choosing locations and storage facilities, and inventory forecasting are all part of it.

To know more about Inventory click here:

https://brainly.com/question/14184995

#SPJ4

7 the follow table contains the demand from the last 10 months :

7 the follow table contains the demand from the last 10 months :

Answers

Explanation:

Month Actual Demand Month Actual Demand

1 31 6 36

2 34 7 38

3 33 8 40

4 35 9 40

5 37 10 41

Show Work and answer the following:

a.) calculate the single exponential smoothing forcast for these data using a of .30 and an initial forecast ( F1) of 31.

b.) calculate the exponential smooting with trend forecast for these data using an a of .30, & of .30, and an initial trend forecast ( T1) of 1, and an initil exponentailly smoothed forecast F1 of 30,

c.) calculate the mean absolute deviation (MAD0 for each forecast

You realize you forgot to pay yourself for work done in February. You create an account called
"Accrued Expenses" (Account #221) and record the $300 due you for your accounting work
You use Feb23.2 as the entry number

Answers

Based on the fact that you created an account called accrued expenses and need to record the $300 you are due for your accounting work, the journal entry would be:

Date                  Account Title                                 Debit             Credit

Feb 23             Accrued expenses                         $300

                        Accounts Payable                                                $300

How to record accrued expenses?

Accrued expenses are expenses which means that they will be recorded like expenses are. When expenses increase, they are debited to the expenses account which in this case is the Accrued expenses account. The amount of $300 is therefore debited to the Accrued expenses account.

Accrued expenses mean that a business has not paid for certain expenses and so owe them. They will therefore be credited to the accounts payable account as was done above.

Rest of the question is:

You use Feb23.2 as the entry number to make the relevant journal entry.

Find out more on accrued expenses at https://brainly.com/question/18958281

#SPJ1

.
.

.
.
.
.
.
.
.
.
.
.
.
.
.
.
.



.




.









.

Answers

Answer:

The Answer is .

Explanation:

Answer:

heloooooooooooooooooo

Explanation:

[Total = 25marks]
QUESTION 2
a. Azon and Son Ltd acquired use of plant over three years by way of a lease. Installments of
GhC700,000, are paid six monthly in arrears on 30 June and 31 December. Delivery of the plant
was on 1 January 2010 so the first payments of GhC700,00 was on 30 June 2010. The present
value of minimum lease payments is GhC3,000,000, Interest implicit in the above is 10% per six
months. The plant would normally be expected to last three. Azon and Son is required to insure
the plant and cannot return it to the lessor without severe penalties.
Required
i. Describe whether the above lease should be classified as an operating or finance
1

Answers

A significant portion of the asset's economic life—three years—is covered by the lease period. The minimum lease payment present value is GhC3,000,000, which is essentially the entire leased asset's fair market value.

The equivalent of monthly rent, a lease payment is formally stipulated in a contract between two parties and gives one party the right to use the other party's real estate holdings, manufacturing equipment, computers, software, or other fixed assets for a predetermined period of time.

A lease payment will be shown as a right-of-use asset and lease liability on the balance sheet. The ROU asset is the ownership of the asset under the lease contract, whereas the lease liability period is the payment obligation during the course of the lease contract.

Learn more about  lease payment, from :

brainly.com/question/17196771

#SPJ1

question 1 which of the following are common tasks in data science? (select all that apply) 1 point data management data integration and transformation data visualization model building model deployment model monitoring and assessment

Answers

The following are common tasks in data science.

data managementdata integration and transformationdata visualization modelbuilding modeldeployment modelmonitoring and assessment

The correct options are all of the above.

Why is data science important for the future?

Data scientists' skills in cybersecurity are likely to be in high demand. As the world's reliance on digital information grows, so does the need to protect it from hackers and other cyber threats.

Creating and applying models and algorithms to mine big data stores. Data analysis is the process of identifying patterns and trends in data. Data interpretation is used to find solutions and opportunities. Findings are communicated to stakeholders through visualization and other means.

Thus, the ideal selections are options for all of the above.

Learn more about data science here:

https://brainly.com/question/30142316

#SPJ1

cash flow is the amount of money
a available in your business at any given time
b in a cash register
c your expect to recieve from a customer
d you owe

Answers

Answer: The answer is B

Explanation: Cash flow is money that stays in the register. It is spared the cases of slight emergencies or cash change.

Sam burned his hand on the stove. The burn was so bad that it permanently scarred his hand and made it hard to grip things. A doctor told him that he could fix the hand through a simple “skin-grafting” procedure. Sam and the doctor entered into a contract to have the surgery for $1,200. After the surgery, Sam’s hand worked perfectly, but he grew hair out of the palm of his hand. Even though he tried waxing his hand and using Nair, he was not able to stop the hair from growing. Did the doctor breach the contract by giving Sam a hairy hand? If so, why, and what should the court do about it?

Answers

The doctor did not read my contract for giving Sam a hairy hand because he did fix his hand and that was what was in the contract there were risks for skin graphing and to get that procedure done he would have to put the risks in a contract
Other Questions
What are the coordinates of the point labeled Q a method can receive ____ arguments, even if it is defined as needing double arguments. both (nature) and the (nurture) interact to influence a person's risk of becoming overweight. Who is the most famous philosopher in Greece a football association team has 22 players each. association state that a player must be paid 15,000 and the total of all players cannot exceed 600,000. what is the maximum possible salary, in dollars,for a single.player? If it does not get digested once when in small intestines what organ might not be working well? 10. The drops of water that appear on the outside of a glass of cold juice on a warm day are anexample of?A. sublimationB. condensationC. evaporationD. deposition Solve this equation problem 8-4x =2 Given the pressure gradient magnitude of 20 hPa/1000 km, findthe geostrophic wind speed for a location at 50 N, with atemperature of 20 C, and a pressure of 880 hPa. The lowest recorded temperature in North America was-81F in the Yukon Territory of Canada, and the highest recorded temperature was 134F in Death Valley, California. Part A: Write a numerical expression that can be used to determine the difference between these two temperatures. Part B: Compute the difference between the two temperatures. The difference between the two temperatures is QuestionA town's yearly snowfall in inches over a 10-year period is recorded in this table.What is the mean of the snowfall amounts?Responses15.0 in.15.0 in.17.0 in.17.0 in.17.9 in.17.9 in.Year Snowfall in inches1997 151998 111999 182000 252001 132002 202003 162004 282005 152006 1818.9 in18.9 in The box plot below represents some data set. What percentage of the data values are between 20 and 55? Which would not be considered an organism If a court finds, in a particular situation, that the valid requirements of a contract exists and consideration (of some kind) exists and both parties are usually bound by the contract. True false Lamp is placed 14cm away from a plant. What is the fraction of the lamp's light intensity, I, at a plant? Give your answer to 3 decimal places.Quickly pls this hw is due in an hour An energy bar contains 2. 1g of protein. 6% of the bar is protein. What is the total mass of the bar? 26- if a man with typo BO blood has a child woth a woman that has type AB blood, what is the percent probability that their child will have type AB blood?A) 25%B) 50%C) 75%D) 100% If you want GA to track performance even when a user comes to only one web page on your site, but clicks to play a video before he leaves the site, what do you need to do? Add a custom filter Add a custom metric Add a custom dimension Create an event tag Add a custom segment How has the role of doctors and nurses during the Holocaust impacted modern nursing? A firm's top management team often represents a variety of functional areas. 1) True 2) False.