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1 year ago

11. (-/1 Points] DETAILS BRECMBC9 5.11.010.

Business

1 answer:

Lisa [10]1 year ago

7 0

Answer:

2190 ; 2560 ;

$778.2

Explanation:

Total worth of gasoline sold = 16003.50

Cost of regular = 3.30

Cost of premium = 3.45

Let :

premium Gallon sold = x

Regular gallon sold = 370 + x

Hence, mathematically;

(3.45*x) + (3.30 * (x + 370)) = 16003.50

3.45x + 3.30x + 1221 = 16003.50

6.75x = 16003.50 - 1221

6.75x = 14782.5

x = 14782.5 / 6.75

x = 2190

Premium Gallon sold = 2190 gallons

Regular gallon sold = 2190 + 370 = 2560 gallons

Profit per regular gallon sold = $0.15

Progit per premium Gallon sold = $0.18

Total profit = (2190 * 0.18) + (2560 * 0.15) = $778.2

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2 years ago

The city of Morehead leased equipment. The life of the noncancellable lease is 10 years. Using an 8 percent interest rate, the p

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Answer:

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Cr Lease Payable $ 905,861

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Cr Lease Payable $ 905,861

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Cr Cash $ 125,000

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1 year ago

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Answer:

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on the basis of the above explanations the question has been solved below:-

Particulars Amount

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Following is a simple income statement. Match each term with its definition from the drop-down list of choices. Income Statement

Scorpion4ik [409]

Answer:

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Income Statement (thousands of dollars) Year 1

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B. Cost of Goods Sold (2,781) : 2. Cost associated with making and selling the firm's products

C. Operating Expenses (1,809) : 3. Cost of generating the current period's revenues including rent, wages, supplies and general and administrative expenses.

D. Operating income (EBIT) 2,410 : 4. Shows the profit or loss a firm makes before paying taxes

E. Interest expense (190) : 5. Cost of servicing the firm's debt.

F. Taxes payable 2,220 : 6. Earnings before interest and taxes

G. Taxes (434) : 7. Includes all Federal, State and Local taxes paid by the firm

H. Net income 1,786 : 8. The profit (or loss) made by the firm

I. Cash Flow Statement : 13. Shows cash from operating, investing, and financing activities

J. Accounting Equation : 10. Assets = Liabilities + Equity

K. Net Income : 11. Profits generated by an organization

L. Balance Sheet : 9. "Snapshot" of a company's activities at a given point in time

M. Income statement : 12. Shows revenues, expenses, and profitability over a period of time

N. Liquidity : 14. How quickly assets can be converted into cash

Explanation:

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1 year ago