The mass exodus of more affluent caucasians from urban to suburban areas is sometimes referred to as

Merchandise costing $2,000 is sold for $3,000 on terms 2/30, n/60. If the customer pays within the discount period, what amount

madam [21]

Answer:

The amount that will be reported on the income statement as net sales is $2,940 and as gross profit is $940.

Explanation:

Given:

Merchandise costing $2,000 is sold for $3,000 on terms 2/30, n/60.

If the customer pays within the discount period.

Now, to find the amount reported on the income statement as net sales and as gross profit.

Cost of merchandise = $2,000.

As, merchandise sold for $3,000.

So, to get the net sales we deduct the discount:

Merchandise on terms 2/30, n/60.

$3,000-2\%\ of\ 3000\\\\=3,000-\frac{2}{100}\times 3000\\\\=3,000-0.02\times 3000\\\\=3,000-60\\\\=\$2,940.$

Thus, the net sales is $2,940.

Now, to get the gross profit we subtract cost of merchandise from net sales:

$\$2,940-\$2,000\\\\=\$940.$

Hence, gross profit is $940.

Therefore, the amount that will be reported on the income statement as net sales is $2,940 and as gross profit is $940.

7 0

3 years ago

Which of these situations would give rise to the free-rider problem? Items (6 items)

sveta [45]

Answer:

The answer is: letter c, a recycling program

Explanation:

A "free-rider" problem happens when some members in the society don't contribute an equal share in the cost of a shared resource.

Among the choices above, the recycling program will give rise to such situation. For example, when it comes to a recycling program of making a school's wall out of recycled bottles (in order to protect it from outsiders), not everyone will join the program yet, most of the time, the program is done for the good of the society. In this case, for the good of the school and the people visiting it.

This results to many free riders taking advantage of the school's wall, including the people who visits the school (parents, babysitters, friends, guardians etc.) and loiters in the area to pass time while waiting for their kids or friends

3 0

3 years ago

Yvonne knows her firm must look at everything it does from a consumer's point of view. One major difficulty is that consumers' _

hram777 [196]

Answer:

Needs, wants, and ability to purchas

Explanation:

There is no reason to focus on consumer needs thousands of years ago. But we can say that technological advances and communication are wreaking havoc in this regard. Trends and fashions mark each day more than we want to obtain, consume and buy. And that has multiplied by a thousand in the last hundred years

3 0

3 years ago

You decide to eat one more chip. the change in the total amount gained that comes from this action is the _____ . marginal cost

kow [346]

Marginal cost is the incremental cost incurred for one additional unit.

Marginal benefit is the incremental benefit gained from the one additional unit.

The maximized utility is the concept of getting maximum values from the minimum expenditure.

If you decide to eat one more chip. the change in the total amount gained that comes from this action is the Marginal benefit.

Hence the correct answer is the Marginal benefit

4 0

3 years ago

Read 2 more answers

Operations management personnel perform a variety of functions, including all of the following except ___________________. A. an

CaHeK987 [17]

Answer:

The correct answer is letter "A": analyzing potential mergers.

Explanation:

Operations managers are those in charge of planning, studying, and analyzing all the steps regarding the processes of production of a company. They supervise if the companies have enough raw materials for manufacturing, organize the labor responsible for the production, and evaluate any problem born because of the operational activities of the business.

Analyzing potential mergers is an event likely to be evaluated by the Chief Executive Officer (CEO) of a firm along with the Board of Directors.

6 0

3 years ago