Answer: b. Getting financial advice
Explanation:
As the number of banks in the world increases, banks are having to offer more products and services apart from their traditional roles as lenders in order to remain relevant and competitive. One such product is giving financial advice.
Banks now offer advice on how to make better investment decisions, develop financial plans and even organize your estate. This is what Drew Davis was taking advantage of here.
ABC systems ________. Multiple Choice will allocate costs based on the overall level of activity highlight the different levels of activities usually will undercost complicated or complex products will limit cost drivers to units of output
Answer: highlight the different level of activities
Explanation:
Activity Based Costing system assigns costs to the activity that are used in production and it highlight the different level of activities.
Activity based costing system is quite different from the traditional costing systems based on the way the indirect cost is being treated.
the administrative marketing and manufacturing operations that many international firms multinational firms and transnational firms have around the world afre often called
Answer:
divisions
Explanation:
Divisional organizational structure
can be regarded as structure that organizes the activities of a particular organization or business around a market, geographical, as well as product and service groups. A company could organize on divisional lines by having operating groups for different geographical Locations like in United States or Europe, all the divisions will individually contains complete set of functions, each could handle their different activities such as sales and
accounting activities.
It should be noted that divisions is
the administrative marketing and manufacturing operations that many international firms multinational firms and transnational firms have around the world.
Assume that you have been hired by a large international bank that is looking to develop a smartphone app to help college students with their finances, credit scores, and investments. The new product development process for the app is just beginning, and you are looking at ways that social media usage can be improved during each step of the process. Whatever new product type a firm plans to develop, it will likely follow a formal new-product development (NPD) process. Organizations increasingly use social media to evaluate potential new products. Social media are especially valuable for small businesses and nonprofit organizations, which typically have less money to spend on the NPD process. Match each social media marketing action with the appropriate step of the new-product development process.
Answer:
Determining that smartphone apps and social media aps are important parts of a bank's future plans to reach young consumers. ⇒ New Product Strategy.
Tweeting out the availability of a new smartphone app that helps young professionals manage their financial lives better. ⇒ Product launch.
Inviting younger "fans" of the bank's social media sites to have a free trial of the new smartphone app. ⇒ Test marketing.
Having a Faceb-ook discussion with consumers on what they would ideally like to have from a bank smartphone app. ⇒ Idea generation.
Creating a prototype of the smartphone app. ⇒ Product development.
Using Tw-itter to ask followers what they are willing to pay for smartphone apps. ⇒ Business analysis.
Developing a social media site that allows college students to review and provide feedback on new product ideas. ⇒ Idea screening.
ABC Corporation owns 75 percent of XYZ Company's voting shares. During 20X8, ABC produced 50,000 chairs at a cost of $79 each and sold 35,000 chairs to XYZ for $90 each. XYZ sold 18,000 of the chairs to unaffiliated companies for $117 each prior to December 31, 20X8, and sold the remainder in early 20X9 to unaffiliated companies for $130 each. Both companies use perpetual inventory systems. Based on the information given above, what amount of cost of goods sold did ABC record in 20X8 prior to consolidation
Answer:
$2,765,000
Explanation:
Calculation to determine what amount of cost of goods sold did ABC record in 20X8 prior to consolidation
Cost of goods sold= $79 each* 35,000
Cost of goods sold=$2,765,000
Therefore the amount of cost of goods sold that ABC record in 20X8 prior to consolidation is $2,765,000
Using the information given and assuming that ABC Corporation sells the chairs it produces to XYZ Company only, the cost of goods sold is $3,150,000.
Data and Calculations:
Shareholding of ABC Corporation in XYZ = 75%
ABC production units in 20X8 = 50,000 chairs
Number of units sold to XYZ = 35,000 chairs
Cost of product per unit = $90
Thus, if ABC Corporation sells the chairs it produces to XYZ Company only, the cost of goods sold is $3,150,000 ($90 x 35,000).
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A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 19,000 defective units that cost $5.20 per unit to manufacture. The units can be a) sold as is for $2.50 each, or b) reworked for $4.80 each and then sold for the full price of $7.70 each.
What is the incremental income from selling the units as scrap and reworking and selling the units? Should the company sell the units as scrap or rework them? (Enter costs and losses as negative values.)
Answer:
If the company reworks the units, income will increase by $7,600 (55,100 - 47,500).
Explanation:
Giving the following information:
Number of units= 19,000
Sold as-is:
Selling price= $2.5
Rework:
Selling price= $7.7
Incremental income= $4.8
First, we will calculate the effect on income of both options:
Sold as-is:
Effect on income= 2.5*19,000= $47,500
Rework:
Effect on income= 19,000*(7.7 - 4.8)
Effect on income= $55,100
If the company reworks the units, income will increase by $7,600 (55,100 - 47,500).
Explain the three system inhibitors of waste, variability and inflexibility and how they can be inefficient to corporations.
Answer and Explanation:
Waste occurs when a company uses inputs that do not add value to their customers. In other words, something customers are not willing to pay for is classified as waste to the company.
Variability is predictability or unpredictability as regards the products of the company. This is what customers expect the products of the company to be like everytime they buy, a certain standard. Example when a customer buys food from a restaurant and expects it to taste the same everytime.
Inflexibility or rigidity occurs when a company isn't flexible enough to adapt easily to customer's expectations such as product mix, changes in demand of their products etc.
These three inhibitors if not handled properly will lead to bad resource management causing customer and employee dissatisfaction.
For each of the following products and services, indicate whether it is more likely produced in a process operation or in a job order operation.
1. Beach towels
2. Bolts and nuts
3. Lawn chairs
4. Headphones
5. Designed patio
Answer:
Process operations are for when there are multiple goods to be produced. These products normally have the same specifications so can be mass produced.
This is different from Job order operation which is used when a single good is product. It is usually used for customized goods.
Process operations:
Beach towels Bolts and nuts Lawn chairs HeadphonesJob Order operation
Designed patio.15. Ilang lalawigan ang bumubuo sa Gitnang Mindanao?
Answer:
6 region any meron SA mindanao
A large manufacturing firm has been selling on a 3/10, net 30 basis. The firm changes its credit terms to 2/20, net 90. What change might be expected on the balance sheets of its customers?
A. Decreased receivables and increased bank loans
B. Increased receivables and increased bank loans
C. Increased payables and decreased bank loans
D. Increased payables and increased bank loan
Answer: Increased payables and decreased bank loans
Explanation:
It should be noted that 3/10, net 30 simply means when customer pays in 10 days, such person will get a 3% discount, if not the person will have to pay in full within the 30 days.
On the other hand, 2/20, net 90 means that when customer pays in 20 days, such person will get a 2% discount, if not the person will have to pay in full within the 90 days.
Therefore, the change that this will lead to on the balance sheets of its customers will be an increased payables as there'll be more time to make payment for the goods and decreased bank loans.
Give examples of various costs Attending college involves incurring many costs. Give an example of a college cost that could be assigned to each of the following classifications. Explain your reason for
assigning each cost to the classification.
a. Sunk cost.
b. Discretionary cost.
c. Committed cost.
d. Opportunity cost.
e. Differential cost.
f. Allocated cost.
Explanation:
i would have to define each of these costs and then assign the best college costs that represents it
a. sunk cost
A sunk cost is a cost that cannot be gotten back, this kind of caost has already being incurred. an example of this college cost would be tuition fee for the past semesters.
b. discretionary cost
this is a cost that the student can survive without. also known as avoidable cost. the cost here would be the amount of money the student spends on dues.
c. commited costs
comitted costs are confirmed costs that the student has to make for services or goods to be taken. this college cost would be book prices
d. opportunity cost as we know is the alternative forgone. that is what was forgone in order to take to schooling. this would be all earnings from working that the individual has foregone since he or she is now a college student
e. this could also be called the incremental cost. thius kind of cost is different between alternatives in in situations where one has to make choices or alternatives. this college cost would be expenditure on attending one school over another school.
f. allocated cost
a cost that is allocated based on the activities that were done while making the product. this would be fee that is charged to a full time college student per course
A car dealer acquires a used car for $14,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include
$250 for transportation-in.
$300 for shipping insurance.
$900 for car import duties.
$150 for advertising.
$1,250 for sales staff salaries.
$180 for trimming shrubs.
For computing inventory, what cost is assigned to the used car? Included in Inventory Cost Expensed as incurred Cost 14.000 900 Cost Transportation in Import duties Insurance during shipment Advertising Sales staff salaries 300 150 1,250 16.850S 0 $
Answer: $15,450
Explanation:
The inventory cost of the car is every cost that was incurred to get it to the car dealer and ready for sale.
Total inventory cost assigned is:
= Cost of car + transportation-in + shipping insurance + car import duties
= 14,000 + 250 + 300 + 900
= $15,450
A skilled carpenter installed a roof on a new administrative building for a private not-for-profit free of charge. The not-for-profit would have had to pay $2,300 for this service if not donated. What entry should the not-for-profit make
Answer and Explanation:
The journal entry should the not for profit make is given below;
Capital Expenditures $2,300
Contribution revenue $2,300
(Being the capital expenditure is recorded)
here the capital expenditure is debited as it increased the expenses and credited the contribution revenue as it also increased the revenue
__________aggregate customers' opinions related to products or services that they have purchased and then suggest them to others with the same interest.
Answer:
Recommendation websites
Explanation:
Recommendation websites aggregate customers' opinions related to products or services that they have purchased and then suggest them to others with the same interest.
These websites make use of customer data based on what they have purchased in the past (product or service) to present to them new/similar products.
Accounts receivable $ 18,000 Long-term notes payable $ 21,000 Accounts payable 11,000 Office supplies 2,800 Buildings 45,000 Prepaid insurance 3,560 Cash 7,000 Unearned services revenue 3,000 Compute Chavez Company's current ratio using the above information.
Answer: 2.24
Explanation:
Current ratio = Current Assets / Current liabilities
Current assets = Accounts receivable + Office supplies + Prepaid insurance + Cash
= 18,000 + 2,800 + 3,560 + 7,000
= $31,360
Current liabilities:
= Accounts payable + Unearned service revenue
= 11,000 + 3,000
= $14,000
Current ratio = 31,360 / 14,000
= 2.24
You are the project manager assigned to build and decorate a model home. What might be an example of a lead you encounter when scheduling work activities
Answer:
The project manager will face difficulties in lead activities if procurement department is not efficient and cooperative.
Explanation:
The procurement of material needs to be quick in case of construction. There is sometimes quick requirement for materials to continue construction. In this case the activities should be scheduled so that there is not delay in the construction activities due to lead time of raw material.
A project manager leads the team and the project to achieve the target. Lead can be of three days as the wall was constructed three days earlier.
What is lead?Project management, is defined as the activity or the task that started before the previous activity is finished and is related to the understanding of the complete project so that the activities can be worked in a controlled manner.
The project manager must have an idea about how to schedule the activity or the task so the former and the later activities can be worked in balance.
In working on a building and home model the coordination between the construction of the roof and walls are necessary as they are interlinked.
Therefore, there will be a lead if the walls are constructed faster.
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You are considering a stock that is expected to pay dividends during the next five years of $0.50, $0,52, $0,54, $0,56 and $0.58. You estimate that you can sell the stock for $100 at the end of five years. Your required rate of return is 15% and the stock is currently selling for $65. If you purchase the stock, what rate of return do you expect to earn
Answer:
9.7%
Explanation:
The rate of return can be determined using a financial calculator
Cash flow in year 0 = -65
Cash flow in year 1 = $0.50
Cash flow in year 2 = $0.52
Cash flow in year 3 = $0.54
Cash flow in year 4 = $0.56
Cash flow in year 5 = $0.58 + $100
Rate of return = 9.7%
To find the rate of return using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the IRR button and then press the compute button.
The management of Wheeler Company has decided to develop cost formulas for its major overhead activities. Wheeler uses a highly automated manufacturing process, and power costs are a significant manufacturing cost. Cost analysts have decided that power costs are mixed; thus, they must be broken into their fixed and variable elements so that the cost behavior of the power usage activity can be properly described. Machine hours have been selected as the activity driver for power costs. The following data for the past eight quarters have been collected:
Quarter Machine Hours Power Cost
1 20,000 $26,000
2 25,000 $38,000
3 30,000 $42,500
4 22,000 $37,000
5 21,000 $34,000
6 18,000 $29,000
7 24,000 $36,000
8 28,000 $40,000
Using the high and low points (i.e., the high-low method), compute a power cost formula. (Note: Round variable rate to three decimal places.)
Total power cost = $_______ + ( $________ x Number of machine hours )
Answer:
Total power cost= 1,250 + 1.375 * number of machine hours
Explanation:
Giving the following information:
Quarter Machine Hours Power Cost
1 20,000 $26,000
2 25,000 $38,000
3 30,000 $42,500
4 22,000 $37,000
5 21,000 $34,000
6 18,000 $29,000
7 24,000 $36,000
8 28,000 $40,000
To calculate the variable and fixed costs, we need to use the following formula:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (42,500 - 26,000) - (30,000 - 18,000)
Variable cost per unit= $1.375
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 42,500 - (1.375*30,000)
Fixed costs= 1,250
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 26,000 - (1.375*18,000)
Fixed costs= 1,250
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $ 17,000 Indirect labor 150,000 Property taxes, factory 10,000 Utilities, factory 90,000 Depreciation, factory 147,000 Insurance, factory 12,000 Total actual manufacturing overhead costs incurred $ 426,000 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 420,000 Direct labor cost $ 80,000 Inventories: Raw materials, beginning $ 22,000 Raw materials, ending $ 32,000 Work in process, beginning $ 42,000 Work in process, ending $ 72,000 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 21,700 machine-hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year.
Answer:
Part 1
under-applied overheads = $8,000
Part 2
Schedule of cost of goods manufactured for the year.
Opening Work in process $ 42,000
Add Direct Materials $393,000
Add Direct Labor $ 80,000
Add Applied Overheads $434,000
Less Ending Work In Process ( $ 72,000)
Cost of Goods Manufactured $877,000
Explanation:
The amount of underapplied or overapplied overhead cost for the year.
Applied Overheads = Predetermined overheads rate x Actual machine hours
= $20 x 21,700 machine-hours
= $434,000
Since,
actual manufacturing overhead costs = $ 426,000
and
applied manufacturing overhead = $434,000
then
under-applied overheads = $8,000 ($434,000 - $ 426,000)
Schedule of cost of goods manufactured for the year.
Opening Work in process $ 42,000
Add Direct Materials ($ 22 + $ 420 - $ 32 - $ 17) $393,000
Add Direct Labor $ 80,000
Add Applied Overheads $434,000
Less Ending Work In Process ( $ 72,000)
Cost of Goods Manufactured $877,000
Calculating the Cost of Equity. Suppose stock in Lululemon Corporation has a beta of 0.80. The market risk premium is 10 percent and the risk-free rate is 2 percent. What is Lululemon's cost of equity capital?
Calculating the WACC. In addition to the information in the previous problem, suppose Boone has a target debt-equity ratio of 50 percent. Its cost of debt is 8 percent, before taxes. If the tax rate is 34 percent, what is the WACC?
Answer:
Cost of equity capital can be found by the Capital asset pricing model:
Cost of capital
= Risk free rate + beta * market premium
= 2% + 0.8 * 10%
= 10%
Weighted Average Cost of Capital:
= (weight of debt * after tax cost of debt) + (weight of stock * cost of stock)
= (50% * 8% * ( 1 - 34%)) + (50% * 10%)
= 10.28%
Hammond Lumber has just changed from prefabricating 8 gazebos to 10 gazebos (units). Their total costs changed from $9,500 to $11,000. What is the marginal cost for Hammond Lumber?
Answer:
MC = 750
Explanation:
Below is the given values:
Initial quantity = 8
Final quantity = 10
Initial total cost = $9500
Final total cost = $11000
Marginal cost = Change in total cost / Change in quantity
Change in total cost = 11000 - 9500 = 1500
Change in quantity = 10 - 8 = 2
Marginal cost = Change in total cost / Change in quantity
MC = 1500 / 2
MC = 750
A debit: Multiple Choice Always decreases an account. Is the left-hand side of a T-account. Is the right-hand side of a T-account. Is not needed to record a transaction. Always increases an account.
A debit side is the left-hand side of a T-account according to the Ledger's book of account.
The left side of the Account is always the debit side and the right side is always the credit side irrespective of what account is. Debit side represents money being paid out of a particular account. In the Ledger is a book of account, in which all types of accounts relating to assets liabilities, capital, expenses and revenues and maintained. it is a complete set of account of business enterprise.
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Find the average payment period if accounts payable is $20,000, cost of goods sold is $200,000, and sales are $500,000.
Answer:
36.5
Explanation:
Account payable = $20,000
The cost of goods sold is $200,000
Sales are $500,000
The average payment period can be calculated as follows
= 20,000/200,000/365
°= 20,000/547.9
36.5
Henbe the average payment period is 36.5
Consider the markets for three products below. Indicate which characteristics of a competitive market are met by these markets.
Market : Gasoline
a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
e. Participants are price takers
Market: barbershop haircuts
a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
e. Participants are price takers
Market: bicycles
a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
e. Participants are price takers
Answer:
Market : Gasoline
b. Standardized good
c. Full information
e. Participants are price takers.
Market : Barbershop haircuts
a. Large number of buyers
c. Full information
Market : Bicycles
a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
Explanation:
The three markets will have different characteristics which will cause the competition. The Gasoline market has standardized product and the customers are price takers. Usually the prices are fixed for the products and there is no bargaining.
Bellevue Company has 26,000 units of inventory on hand at December 31. It sold 1,950 units which are in transit and were shipped FOB destination. Bellevue purchased 3,250 units which were shipped FOB shipping point by the seller and are still in transit. What is the total amount of inventory to which Bellevue has legal title at December 31
Answer:
24050
Explanation:
Calculation to determine the total amount of inventory to which Bellevue has legal title at December 31
Using this formula
Inventory=Inventory on hand at December 31- Units in Transit
Let plug in the formula
Inventory=26,000 units- 1,950 units
Inventory=24050
Therefore the total amount of inventory to which Bellevue has legal title at December 31 is 24050
Acme Company is considering investing in a new machine that costs $126,594 and that has a useful life of 12 years with no salvage value. The machine will generate $19,500 annually in net cash inflows. The internal rate of return on the investment is: (Round your intermediate calculations to 3-decimals and your internal rate of return calculations to the nearest whole percent.)
Answer: 11%
Explanation:
The internal rate of return is the rate that will equate the cash inflows with the cost of investment.
It is therefore the discount rate used to find the present value of an annuity because the inflows are stable and are therefore annuities.
Present value of annuity = Annuity * Present value factor of annuity, 12 years, %?
126,594 = 19,500 * Present value of annuity factor
Present value of annuity factor = 126,594 / 19,500
= 6.492
Go to a present value of annuity factor table and find the interest rate that intersects with 12 years to give a factor of 6.492:
Rate is 11%
The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had been adjusted on January 31, 20Y7, the end of the fiscal year:
Depreciation Expense $10,000
Insurance Expense 9,000
Miscellaneous Expense 8,150
Rent Expense 60,000
Service Revenue 634,900
Supplies Expense 4,100
Utilities Expense 44,700
Wages Expense 548,200
Requierd:
Prepare an income statement.
Answer and Explanation:
The preparation of the income statement is presented below:
Service revenue $634,900
Less:
Depreciation Expense $10,000
Insurance Expense 9,000
Miscellaneous Expense 8,150
Rent Expense 60,000
Supplies Expense 4,100
Utilities Expense 44,700
Wages Expense 548,200
Net loss -$49,250
The model of competitive markets relies on these three core assumptions:
1. There must be many buyers and sellers-a few players can't dominate the market.
2. Firms must produce an identical product-buyers must regard all sellers' products as equivalent.
3. Firms and resources must be fully mobile, allowing for free entry into and exit from the industry.
The first two conditions imply that all consumers and firms are price takers. While the third is not necessary for price-taking behavior, assume for this problem that a market cannot maintain competition in the long run without free entry.
Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of why or why not.
Scenario Competitive
1. Several stores in the mall sell hooded sweatshirts. Each store's sweatshirts reflect the style of that particular store. Additionally, some stores use higher-quality cotton than others, which is reflected in the apparel's prices.
2. In a small town, there are two providers of broadband Internet access: a cable company and the phone company.
The Internet access offered by both providers is of the same speed.
3. There are hundreds of high school students in need of algebra tutoring services in Dallas.
4. Dozens of companies offer tutoring services, and the parents who seek out tutors view the quality of the tutoring at the different companies to be largely the same.
5. The government has granted a patent to a pharmaceutical company for an experimental AIDS drug. That company is the only firm permitted to sell the drug.
Answer:
Following are the solution to the given points:
Explanation:
For point 1:
No, not the same thing Because the product is not the same, the marketplace is monopolistic and not completely competitive.
For point 2:
No, not a bunch of salespeople Because the product is the same any maker wishes to enter into the market, the competitive market also does not mean that only two vendors and not so many sellers present in the market.
For point 3 and 4:
Yes, it is aggressive algebra upon on market Same students and several teaching qualities everywhere.
For point 5:
No, no free admissionm, it was not a regulated business. The rationale would be that the entrance to the market via patent rights is restrained by the state.
Which type of budgeting requests for investment in large assets such as buildings, renovations, software systems and furniture
The type of budgeting requests for investment in large assets is buildings.
An investment property is real estate property purchased with the intention of earning a return on the investment either through rental income, the future resale of the property, or both.
Why do people invest in buildings?Key Takeaways. Real estate investors make money through rental income, appreciation, and profits generated by business activities that depend on the property. The benefits of investing in real estate include passive income, stable cash flow, tax advantages, diversification, and leverage.
Apartment buildings frequently get sold on the basis of their cap rate, which is effectively a multiple of the income they produce. If you increase your building's income by raising rents or cutting expenses, you should be able to sell for a profit.
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Wealth Company has the following transactions for the month of November: Purchased materials on account for $300,000 Materials requisitioned for $75,000 Direct labor for the month was incurred (but not yet paid) of $50,000. Actual overhead for the month was $30,000. It has not been paid yet. (Charge to various payables.) Overhead is applied to production at the rate of 50% of direct labor. Jobs totaling $50,000 were transferred from Work-in-Process to Finished Goods. Jobs costing $34,000 were sold. Balances at the beginning of the month were: Materials $34,240 Work-in-Process 0 Finished Goods $12,000 What is the ending balance of Finished Goods
Answer:
Wealth Company
The ending balance of Finished Goods is:
= $28,000
Explanation:
a) Data and Calculations:
Raw materials $300,000 Accounts Payable $300,000
Work in Process $75,000 Raw materials $75,000
Work in Process $50,000 Payroll Payable $50,000
Manufacturing overhead $30,000 Overhead Payable $30,000
Work in Process $25,000 Manufacturing Overhead $25,000
Finished Goods $50,000 Work-in-Process $50,000
Cost of goods sold $34,000 Finished Goods $34,000
Balances at the beginning of the month were:
Materials $34,240
Work-in-Process 0
Finished Goods $12,000
Finished Goods $12,000
Work in process 50,000
Cost of goods (34,000)
Ending balance $28,000
Bill operates a proprietorship using the cash method of accounting, and this year he received the following: $140 in cash from a customer for services rendered this year a promise from a customer to pay $192 for services rendered this year tickets to a football game worth $230 as payment for services performed last year a check for $178 for services rendered this year that Bill forgot to cash How much income should Bill realize on Schedule C
Answer:
$548
Explanation:
Calculation to determine How much income should Bill realize on Schedule C
Income realized=$140+ $230 + $178
Income realized= $548
Therefore How much income should Bill realize on Schedule C is $548