Can Please Help Me: Accounting60 minutes only the given time. Wish you could help me.I will give UPVOTE and GOOD FEEDBACK. In the fiscal year just concluded, the University Shop reported net income of.P4,000,000 on sales of P30,000,000. The variable costs as a percentage ofrevenues are 70%. What is the amount of fixed costs?1. P 3,000,0002. P 5,000,0003. P 6,600,0004. P 17,000,000O 1O 2O 34

Fixed costs are those costs which do not change with change in level of activity. Fixed costs =…

Answered: In the fiscal year just concluded, the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Follow the instructions. Typewritten for an upvote. No upvote for handwritten. PLEASE SKIP IF YOU HAVE ALREADY DONE THIS. Thank you SHOW SOLUTIONS, NO SOLUTIONS NO UPVOTE
I am attempting to do this assignment right now and I am confused because whenever I type the stuff in it shows up like error messages so I’m confused if I’m supposed to be typing it in exactly or if I’m supposed to be doing some thing with the $10,000 loan like a calculation?
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PART II: Open-ended Problems Instructions: Determine a solution for each problem. Unless specifically instructed to do otherwise, enter your final numerical answer on the THPS-2 Answer Submission Form on iCollege as follows: enter dollar answers rounded, if necessary, to the nearest whole dollar but do not include a dollar sign or any commas (for example, enter $23,306.84 as 23307); enter percent answer rounded to 1 decimal place, without a percent sign and without any commas (for example, enter 0.274324 = 27.4324% as 27.4); if your answer is a negative amount, put a hyphen before your number with no space between the hyphen and the number (for example, enter negative 72.3984 as -72.4). USE THE INFORMATION BELOW TO ANSWER QUESTIONS 21-23 Fertzil's Fertilizer Store, Incorporated Balance Sheets (all amounts in dollars) For the Years Ending December 31, 2021 and 2022 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets Notes payable Accounts payable Wage & Tax…
! Required information [The following information applies to the questions displayed below.] Start your QuickBooks Online company. Complete all the hands-on work, step-by-step activities presented on pages 53- 94, and Exercises 2-1, 2-2 and 2-3 on pages 94-96. To answer the questions below, use the information in QuickBooks from your Chapter 2 work. Required: 1. On the Chart of Accounts, why are the account type and detail type selections important? 2. To explain the account and detail types, three accounts have been given in the table below. Select the appropriate answers for account type, detail type, account number, and corresponding financial statement for each account. Complete this question by entering your answers in the tabs below. Required A Required B To explain the account and detail types, three accounts have been given in the table below. Select the appropriate answers for account number, and corresponding financial statement for each account. Account Accounts Payable…
Hi could you explain how to calculate the missing values with the formula required and post the results. please dont provide solution in an image format thankyou
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I understand the cost classification, but not the total amount and percent of total. Thanks!
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In the fiscal year just concluded, the University Shop reported net income of. P4,000,000 on sales of P30,000,000. The variable costs as a percentage of revenues are 70%. What is the amount of fixed costs? 1. P 3,000,000 2. P 5,000,000 3. P 6,600,000 4. P 17,000,000 O 1 O 2 O 3 4