PLEASE HELP ME!! please, please,, please explain how you got it, thank you

On January 1, 2014, the merchandise inventory of Glaus, Inc. was $1,200,000. During 2014 Glaus purchased $2,400,000 of merchandi

Xelga [282]

Answer: Option (C) is correct.

Explanation:

Given that,

Merchandise inventory(beginning inventory) = $1,200,000

Merchandise purchased = $2,400,000

Sales = $3,000,000

Gross profit rate on sales = 25%

Ending inventory of Glaus:

= Beginning inventory + Purchases - cost of goods sold

= $1,200,000 + $2,400,000 - [sales × (100-25)%]

= $1,200,000 + $2,400,000 - $3,000,000 × 0.75

= $1,200,000 + $2,400,000 - $2,250,000

= $1,350,000

5 0

3 years ago

The City of Mayville had total fund balance in its General Fund of $200,000 on December 31, 2019. The City of Maysville's Genera

d1i1m1o1n [39]

Answer:

The City of Mayville

The City should report $42,000 as restricted fund balance in its General Fund on December 31, 2019.

Explanation:

a) Data and Calculations:

Total fund balance in General Fund = $200,000

Inventory = $28,000

Prepaid Rent 10,000

Encumbrances 60,000

Restricted fund = $42,000

b) The City of Mayville's restricted fund balance is the cash balance that has been earmarked for specific or limited use by or for the City. Restricted funds ensure that donors detect and direct the usage of the funds.

5 0

3 years ago

A stockbroker trades shares she does not own with an obligation of later repayment, and in the hope that the price of traded sha

xxTIMURxx [149]

Answer: short selling

Explanation: In simple words, short selling refers to the process in which an individual borrows stock from its holder with the promise of giving it back after a specific time and at a specific price, after borrowing he or she sells the stock at the current market price and expects that the price of stock will decrease in future.

The borrower then purchases the stock at a lower price and gives it back to the lender with the margin profit in his or her pocket. Short selling works like a speculation but only market experts do such activity due to high risk involved.

Such processes are of high value to the market as they result in creation of liquidity.

3 0

4 years ago

________ have over 85% of the l,669 federally designated mental health professional shortage areas.

Vedmedyk [2.9K]

Answer:

rural places have over 85% of the l,669 federally designated mental health professional shortage areas.

Explanation:

5 0

2 years ago

North American Van Lines and Allied Van Lines combined in a _____ merger that will create the world's largest moving company. Pr

8_murik_8 [283]

Based on the type of customers that both companies served, this is a <u>horizontal merger. </u>

<h3>What is a horizontal merger?</h3>

This refers to a situation where companies in the same industry but with different market targets combine.
This is often done to increase market share and efficiency.

North American Van Lines and Allied Van Lines targeted different customers so when they merged, this was a horizontal merger.

Find out more on horizontal mergers at brainly.com/question/1807854.

5 0

3 years ago