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natka813 [3]
3 years ago
8

Company ABC reported the following: 1. Net Income: $110,000 2. Return on Sales (Net Income/Sales): 3.56% 3. Gross Profit Percent

age (Gross Profit/Sales): 26.66% What is the dollar amount of Cost of Goods Sold this company incurred?
Business
1 answer:
Sergeeva-Olga [200]3 years ago
8 0

Answer:

$2,266,123.60

Explanation:

As it is given

Return on sales = Net income ÷ Sales

3.56% = $110,000 ÷ Sales

So, the sales is  $3,089,887.64

Now the Gross Profit percentage is

Gross Profit percentage = Gross profit ÷ Sales

26.66% = Gross profit ÷ $3,089,887.64

So, the gross profit

= $823,764.044

Now the cost of goods sold is

= Sales - gross profit

=  $3,089,887.64 - $823,764.044

= $2,266,123.60

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Grandiose Growth has a dividend growth rate of 20%. The discount rate is 15%. The end-of-year dividend will be $3 per share. Wha
11111nata11111 [884]

Answer:

The present value of dividend to be paid at the end of year 1, year 2, and year 3 are $2.60, $2.95, and $2.84 respectively.

Explanation:

The end of the year dividend is $3 per share.

The dividend growth rate is 20%.

The discount rate is 15%.

PV of dividend to be paid at the end of year 1

= \frac{end\ of\ the\ year\ dividend}{(1+discount\ rate)^n}

= \frac{3}{(1 + .15)^1}

= \frac{3}{1.15}

=$2.60

PV of dividend to be paid at the end of year 2

=\frac{end\ of\ the\ year\ dividend}{(1 + discount\ rate)^n}

=\frac{3\times (1+.20)}{(1+.15)^2}

=\frac{3.60}{1.322}

=$2.72

PV of dividend to be paid at the end of year 3

=\frac{end\ of\ the\ year\ dividend}{(1 + discount\ rate)^n}

=\frac{3\times (1+.20)^2}{(1+.15)^3}

=\frac{4.32}{1.52}

=$2.84

5 0
3 years ago
Southwest Pediatrics has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $116,000; All
Vilka [71]

Answer:

Bad Debt expense = Allowance for uncollectible debit + (Estimated uncollectibles)

= 1,900 + (15% * 116,000)

= $‭19,300‬

1.

Dec. 31 DR Bad debt expenses                                  $19,300    

                   CR Allowance for Uncollectable                            $19,300

2. Balance Sheet;

= 116,000 * 15%

= $‭17,400‬

Income Statement;

= $19,300

3. Net realizable value

= Accounts receivable - Estimated uncollectibles

= 116,000 - 17,400

= $‭98,600‬

6 0
3 years ago
Bedford had this info at the end of 2015, its first year of operations: No other permanent or temporary differences exist. The l
Alex73 [517]

Answer: $150,000

Explanation:

Seeing as the litigation expense will only be paid in 2018, it should be added back to income for 2015.

= 900,000 + 100,000

= $1,000,000

As the depreciation will reverse evenly over the next three years and with future income probable, it should be removed from income.;

= 1,000,000 - 300,000

= $700,000

Municipal Bonds have the advantage of being Tax-exempt so their interest income should be removed to calculate how much tax should be paid.

= 700,000 - 200,000

= $500,000

2015 Income Tax Payable = 500,000 * 30%

= $150,000

5 0
3 years ago
Employees in an advertising company are well paid, yet they all seem to be lacking interest in work and are demotivated. What no
zysi [14]

the answer here is d

5 0
3 years ago
The following information was collected on work Center 40: 400 hours scheduled; 30 hours lost due to absenteeism; 20 hours lost
devlian [24]

Answer:

75% is the work center utilization

Explanation:

Mathematically;

Utilization = (Actual Output/Design capacity)*100

From the question;

Actual output = 300

Design capacity = 400

Substituting these values in the equation, we have:

= (300/400)*100

= 0.75*100

= 75%

5 0
3 years ago
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