3.1 3.2 3.3 What is an income and expense statement? What type of expense is the stall fee? What type of income are the cooldrink and cupcake sales? Give a reason for your answer.
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- Assume that you are responsible for planning a banquet for your school’s accounting club. The banquet will feature a dinner, followed by a speaker. The costs associated with the banquet are as follows: Meals Beverages (coffee and tea) Use of banquet room Speaker’s fee $10 per person $1 per person $50 $100 Assume that 50 students will attend the banquet. If you want to break even on this event, how much do you need to charge for a ticket? Please explain your answer and how it relates to Chapter 19.Mike purchases a bicycle costing $152.90. State taxes are 4% and local sales taxes are 2%. The store charges $20 for assembly. What is the total purchase price (in $)? (Round your answer to the nearest cent.) $ 182.08 Need Help? Read It Watch It Master ItCVP application—allow special discount? Assume you are a sales representative for Sweet Tooth Candy Company. One of your customers is interested in buying some candy that will be given to the members of a high school Substance Abuse Awareness Club. The club members will be marching in a community parade and will give the candy to children who are watching the parade. Your customer has asked that you discount the normal selling price of the candy to be given to the club by 30%. You know that the contribution margin ratio of the candy, based on the regular selling price, is 40%.Required:Identify the pros and cons of complying with the customer’s request, and state the recommendation you would make to your sales manager
- A CengageNOWv2 | Online teaching and learning resource from Cengage. eBook Revenue Recognition Principle Heartstrings Gift Shoppe sells an assortment of gifts for any occaslon. During October, Heartstrings started a Gift-of-the-Month program. Under the terms of this program, beginning in the month of the sale, Heartstrings would select and deliver a random gift each month, over the next 12 months, to the person the customer selects as a recipient. During October, Heartstrings sold 20 of these packages for a total of $10,956 in cash. Required: For the month of October, calculate the amount of revenue that Heartstrings will recognize. 10,956 X Feedback Check My Work Apply the revenue recognition principle, which states that revenue is recognized when earned and the collection of cash is reasonably assured. Previous Next Check My Work Suhmit Assignment for Grading Couo and ExitDirections: Prove to me that you are having fun and you are learning more than what I expected. Compute the total amount of Pedro's Meal Expenses for May 2020 using MS Excel. Pedro's Meal Expenses for May 2020 Monday Tuesday Wednesday Thursday Friday Sunday Saturday Total P100.00 P120.00 4 6 8 P120.00 P120.00 P100.00 P120.00 P100.00 P120.00 P150.00 10 11 12 13 14 15 16 P100.00 P110.00 P110.00 P120.00 P120.00 P110.00 P120.00 17 18 19 20 21 22 23 P150.00 P110.00 P110.00 P110.00 P100.00 P120.00 P150.00 24 25 26 27 28 29 30 P100.00 P120.00 P110.00 P100.00 P110.00 P110.00 P150.00 31 P100.00 TOTAL MEAL EXPENSES FOR THE MONTH OF MAY2. DETAILS BRECMBC9 18.L.015.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Mike purchases a bicycle costing $178.70. State taxes are 5% and local sales taxes are 3%. The store charges s20 for assembly. What is the total purchase price (in $)? (Round your answer to the nearest cent.) Need Help? Read Wh Master Submit Answe
- Use the assumptions below to create calculations to determine annual and monthly revenue projections for each of the categories. Be sure to make the revenue category on the pro-forma view (above) descriptive and use your assumptions as drivers for the values calculated. Make it easy to change the assumptions to determine the impact of a change (up or down) in volume, rates and discounts. Insert lines or columns as needed. Camps and Schools require physicals before kids arrive. There are 150 camper physicals spread evenly in May and June. There are 500 school physicals, 25% in July, 65% in August, and 10% in September. The insurance companies in covering families in your community are split 50% BC/BS and 40% United Healthcare and no insurance (private pay). Your normal camper physical charge is $115. You give BC/BS an 18% discount and United Health care a 15% discount. The special promotion for campers without insurance (private pay) is $75. Camper Physical $ 115 Payor -…You wish to take an Excel course. You may enroll at one within your school or you may take a community class at the local library. You've gathered the following information to aid in your decision-making process: Costs/Benefits College Course Community Course Cost $4,300 $1,190 Distance to course 0.20 miles (walking distance) 18 miles (driving distance) Timing of course Weekday Weekend Number of meetings 16 8 Qualitative considerations Convenience, quality of instruction Flexibility, brief duration Pretend transportation (gas, mileage, and parking) cost $220 per class session at the library. If you consider solely the cost - including transportation - of each alternative, which would you choose? Multiple Choice College course Community course Both alternatives Neither alternativerobiert ds and checked you below. Complete the Lesson Reflection above by circling your current u Calculate the unit price of each item to the nearest cent. 1. Latona Hitchens purchases 25 hanging file folders for $6.99
- https://elearn.squ.edu.om/mod/quiz/attempt.php?attempt=1863256&cmid%3D88624 (SQU E-LEARNING SYSTEM 0:30:28 ll Sur Travel Company intends to sell its customers a special round-trip airline ticket package to Salalah. The Company will be able to purchase the package from Oman Air for OMR 150 each. The round-trip tickets will be sold for OMR 250 each and the airline intends to reimburse Sur Travel for any unsold ticket packages. Fixed costs for Sur Travel include ?OMR 5,000 in advertising costs.How many ticket packages will Sur Travel need to sell to break even packages 34 a O packages 20 .b O packages 50 .c packages 13 d For XYZ Company, how many units of their product would have to be sold to yield a target operating income of $100,000 for the financial year ending 2021t.php?attempt%3D1347310&cmid3D701917&page3D2 E-learning services SQU Libraries SQU Portal Attendance English (en) Ali decided to install a new internet fiber service. He signed a contract with Company XYZ. The contract states that Ali pays a monthly subscription fee. Ali's monthly internet cost can be classified as a: t of estion Select one: a. Sunk cost b. Fixed cost C. Moderation cost O d. Mixed cost Oe. Variable cost ious page Next page - Answers to Ch3 Additional Exercises Jump to Exam 1 Part 2- Sp20A tree provider to plant nurseries is trying to use customer lifetime value to determine the value of its customers. Two customers are shown below. Use customer lifetime value to determine the importance of each customer. Use a 7 percent discount rate. Avg. Annual Sales Avg. Profit Margin Customer A: Customer B: $26,500 $14,000 Do not round intermediate calculans. Round your answers to the nearest dollar. NPV (Customer A): $ 25% 15% Expected Lifetime 11 years 7 years NPV (Customer B): $ What do you recommend? -Select- is more important.