Imagine that Art's Flower Shop has blossomed into a large, sophisticated corporation, that advertises in the yellow pages and al
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Answer and Explanation:
The computation of amount of revenue and gross profit (loss) to be recognized in each of the three years is shown below:-
Sales revenue for the present period for 2021 = $31,00,000.00
Sales revenue for the present period for 2022 = $46,00,000.00
Sales revenue for the present period for 2023 = $23,00,000.00
Gross Profit for year 2021 = $5,58,000.00
Gross profit for year 2022 = $8,28,000.00
Gross profit for year 2023 = $2,25,400.00
To reach the sales revenue we simply deduct the Sales revenue recognized in previous period from Sales revenue recognized till date for 3 years on the other hand to compute the gross profit we simply deduct the Cost incurred during the year from Sales revenue for the present period for 3 years.
For clarification we attached the spreadsheet to reach the sales revenue and gross profit for 3 years.
Answer:
Ace will repay a total of $52.4 million to bank.
Explanation:
given data
Cost of building new facility = $44 million
Amount borrowed (P) = $40 million
Time period (n) = 4 years
Interest rate (r) = 7% or 0.07
solution
we get here amount to be repaid after 4 years that is express as
amount = P × ......................1
put here value and we get
amount = $40 million ×
amount = $40 million × 1.31
amount = $52.4 million
so Ace will repay a total of $52.4 million to bank.