How do you get the profit?

Janelle sells construction equipment. when she calls on her building contractor customers, she asks if they are having any probl

Marat540 [252]

The answer is: satisfying customer needs and wants.

<h3>What Distinguishes Needs from Wants?</h3>

One of the most crucial tasks you must take when building a monthly budget is classifying your expenditures by "need" or "desire" status.

The distinction between a need and a want might vary from person to person, making it one of the hardest challenges. It is also simple to mistake requirements for wants if you have been accustomed to something to the point that it is difficult to imagine life without it.

You classify your expenditure on the budgeting worksheet as either needs or wants. By doing this, you may distinguish between the expenses that are absolutely necessary for your existence and well-being (what you need) and those that are only desirable but not necessary (wants).

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3 0

2 years ago

Belstone, Inc. is a merchandiser of stone ornaments. It sold 15,000 units during the year. The company has provided the follow

Georgia [21]

Answer: $200,100

Explanation:

Given that,

Units sold = 15,000

Sales Revenue = $510,000

Purchases (excluding Freight In) = $310,500

Selling and Administrative Expenses = $36,000

Freight In = $15,900

Beginning Merchandise Inventory = $42,500

Ending Merchandise Inventory = $59,000

Cost of goods sold = Beginning Merchandise Inventory + Purchases + Freight In - Ending Merchandise Inventory

= $42,500 + $310,500 + $15,900 - $59,000

= $309,900

Gross Profit = Sales Revenue - Cost of goods sold

= $510,000 - $309,900

= $200,100

8 0

3 years ago

All-Star Automotive Company experienced the following accounting events during 2018: Performed services for $25,000 cash. Purcha

Mariana [72]

Answer & Explanation:

<u>Operating Activities</u>

services collected 25,000

salaries paid (14,000)

utilities paid (2,800)

cash generated from operating activities 8,200

<u />

<u>Investing activities</u>

proceeds from land 9,000

purchase of land (6,000)

cash generated from investing activities 3,000

<u />

<u>Financing Activities</u>

issuance of stocks 50,000

bank loan 5,000

payment on loan (10,000)

dividends paid (5,000)

cash generated from financing activities 40,000

Total cash generated for the year ended December 31th, 2018 51,200

beginning balance 9,200

ending balance 60,400

Notes: Activities related to the daily operation wil lbe operating activities.

The transaction involving long-term assets will be investing activities

The stocks, dividends and loan, loan payment are financing activities for the company.

5 0

3 years ago

Knowledge Check 02 On February 28, the Jewelry store remits $975 of sales tax collected from its customers to the government. Pr

kodGreya [7K]

Answer:

Please refer to the below

Explanation:

Journal entry as seen below

Feb 28 Sales tax payable Dr $975

Cash Cr $975

Since Jewelry store collected the sales tax from its customers, sales tax account will be debited because it reduces the balance in the account while cash account will be credited because the balance therein increases due to the sales tax collected.

7 0

3 years ago

BE16.15 (LO 5) Bedard Corporation reported net income of $300,000 in 2020 and had 200,000 shares of common stock outstanding thr

Verizon [17]

Answer:

$1.40 per share

Explanation:

The computation of the diluted earning per share is shown below:

Diluted earning per share = Net income ÷ weighted number of shares

where,

Net income is $300,000

And, the weighted number of shares is

= 200,000 shares + (45,000 options - 45,000 options × $10 ÷ $15

= 200,000 shares + (45,000 options - 30,000 options)

= 200,000 shares + 15,000

= 215,000 shares

So, the diluted per share is

= $300,000 ÷ 215,000 shares

= $1.40 per share

5 0

4 years ago