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fredd [130]
4 years ago
10

Harvey works for Ice Cream Dream, a company that sells commercial ice cream makers. Ice Cream Dream normally has a gross profit

percentage of 30%. Harvey's wife loves ice cream, so he decides to buy her a commercial ice cream maker for her birthday. Harvey paid $650 for a machine that would have normally retailed for $1,000. What, if any, amount must be included in Harvey's gross income
Business
1 answer:
kvv77 [185]4 years ago
5 0

Answer:

$50

Explanation:

Sales - gross profit

Sales = $1000

Gross profit = 1000 *30%

= $300

1000 - 300

= $700, this value is the actual cost

Actual cost = $700

The amount paid = $650

To calculate the amount to be included, we subtract the amount paid from actual cost

= $700 - $650

= $50

Amount to be included in harveys grow income = $50

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GrogVix [38]

Answer:

Data mining

Explanation:

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3 years ago
Bodle, Kane, Marcus, 9e, Equity Valuation Consider a company with a P/E ratio of 15, in an industry with an average P/E ratio of
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Answer:

First option is correct.

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4 years ago
In the development stage, GoPro engineers and designers use a 3-D printer to turn an idea into a product ________ to check the d
oksian1 [2.3K]

Answer:

Prototype

Explanation:

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According to this, the answer is that in the development stage, GoPro engineers and designers use a 3-D printer to turn an idea into a product prototype.

7 0
3 years ago
Brian has just finished college. He wants to set up a small business to make and sell fireworks. He registers his company and ac
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8 0
3 years ago
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Simmons Corporation reports the following information: Correction of understatement of depreciation expense in prior years, net
Juli2301 [7.4K]

Answer:

$2,250,000

Explanation:

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As we assume that the question is asked for the 31/1/17 instead of 1/1/17 as it is already mentioned in the question

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4 years ago
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