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STATEMENT OF COMPREHENSIVE INCOME
a. COGS (Cost of Good Sold)
b. NET INCOME
C. COMPREHENSIVE INCOME
1. The Swift Company presented the balances of each income and expense account and you are tasked to make its expanded income statement for the year ended 2020.
2. Always apply the income tax expense as 25% of operating profit.
Gross Sales = ₱ 3,822,300
Sales Returns= ₱ 219,700
Gross Purchases = ₱ 1,000,000
Purchase Discounts = ₱ 180,000
Beginning Inventories = ₱ 920,500
Ending Inventories = ₱ 450,800
Distribution Expenses = ₱ 760,200
Administrative Expenses = ₱ 440,900
Other Comprehensive Income = ₱ 210,000
Paul lends R10 000 to his friend Steven for one year. They agree that Steven would pay the R10 000 back with 5% interest at the end of the year. If the inflation rate is 6% at the end of the year, which of the following would be true for the real value of the amount that Steven pays back ?
Jane earns an income of R10 000 a month and pays R1 500 towards income tax, and when her income increases to R24 000 a month, she now pays R3 600 towards income tax. This is an example of a?
During a high-level conference in Paris,France,an economist,Jagaban,confidently
remarked,“Countries with low population growth rates,like Italy and Japan,have
higher income per person than those with high growthrates such as Zambia and
Jordan.”Use the Solow growth model to explain his claim.
good to decrease by 30 percent, while the total revenue
of that good increases by 15 percent. Is the demand
curve elastic or inelastic? Explain.
a. If the price of heating oil rises from $1.80 to $2.20 per gallon, what happens to the quantity of heating oil demanded in the short run? In the long run? (Use the midpoint method in your calculations.)
b. Why might this elasticity depend on the time horizon?
If reserve bank wants to pursue a contract on any monetary policy, the bank should
