Participating in extracurricular activities in hush school helps

Delta Diamonds had 5 one-carat diamonds available for sale this year: 1 purchased June 1 for $500, 2 purchased July 9 for $550 e

NISA [10]

Using a periodic specific identification, Delta Diamonds' Inventory after the December 24 sale is <u>$2,250</u>.

<h3>What is the specific identification method?</h3>

The specific identification method is an inventory method that identifies specific inventories sold and uses their specific costs in valuing the cost of goods sold.

<h3>Data and Calculations:</h3>

Date Units Unit Cost Total Balance

June 1 1 $500 $500 $500

July 9 2 $550 $1,100 $1,600

Sept. 23 2 $600 $1,200 $2,800

Dec. 24 -1 $550 $550 $2,250

Thus, using a periodic specific identification, Delta Diamonds' Inventory after the December 24 sale is <u>$2,250</u>.

Learn more about specific identification methods at brainly.com/question/25056275

4 0

1 year ago

Tommy’s Tile Service is planning on purchasing new tile cleaning equipment that will improve their ability to remove tough stain

sergejj [24]

Answer:

1. $132,800

2. $531,200

3. $1,071,200

Explanation:

The break-even point is the level of sales at which the business incur no profit no loss.Fixed and variable costs are covered at this level of sales. Use following formula of break-even to calculate the fixed cost.

Break-even point = Fixed cost / Contribution margin ratio

$487,200 = Fixed cost / 25%

Fixed Cost = $487,200 x 25% = $121,800

1.

Revised Fixed cost = $121,800 + $11,000 = $132,800

2.

New Break-even point = $132,800 / 25% = $531,200

3.

Desired profit = $135,000

Desired revenue = ( Desired profit + Fixed cost ) /Contribution margin ratio = ( $135,000 + 132,800 ) / 25% = 267,800 / 25% = $1,071,200

5 0

3 years ago

Question 4 Ivanhoe Company reports the following information (in millions) during a recent year: net sales, $10,794.0; net earni

Inga [223]

Answer:

ROA = 0.08 or 8%

Asset turnover = 2.4

Profit Margin = 0.033 OR 3.3%

Explanation:

All of the above requirements can be calculated as follows according to their formula

Working

Average asset = (Assets at beginning + assets at end )/ 2

Average assets = (4025 + 4970 )/ 2

Average assets = $4497.5

Requirement A. Return on assets

ROA = Net Income / Average assets

ROA = $359.8 / $4497.5(w)

ROA = 0.08 or 8%

Requirement 2 Asset turnover

Asset turnover = Net Sales / Average assets

Asset turnover = $10,794 / $4497.5

Asset turnover = 2.4

Requirement 3 Profit Margin

Profit margin = Net income / Net sales

Profit margin = $359.8/$10,794

Profit Margin = 0.033 OR 3.3%

3 0

3 years ago

In 2019, the CEO of Crimson, Inc., entertains seven clients at a skybox in Memorial Stadium for a single athletic event during t

hram777 [196]

Answer:

Crimson may not be able to deduct any of the cost incurred. In other words these expenses are inadmissible.

Explanation:

As per scenario given in the above question, Crimson Inc., may not be able to deduct any cost which is incurred related to the entertainment expenses because many changes has been made in the tax cuts and Jobs act,2017. These changes does not allowed deduction of the entertainment and business meals expenses.

In the year 2018, the entertainment expenses could not be deducted according to the tax laws applicable on the companies. Thus, the costs will not be deducted.

4 0

3 years ago

Common stock is a vehicle for selling ownership and another way to raise money for operations, expansion, or other business nee

ale4655 [162]

The statement, "Common stock is a vehicle for selling ownership and another way to raise money for operations, expansion, or other business needs" is true.

<u>Explanation:</u>

Common stock is a distribution tool and a way to raise capital for investment, business growth or other company needs.

Common stock is a kind of company holding, a type of safety. In many other regions of the world, the terms polling share and prevalent share are frequently were using.

The "common stock" is used mainly in the USA. These are classified as shareholdings or common shares in the United Kingdom and other Commonwealth.

It means that one common stock share constitutes percentage equity of a corporation. In certain words, this is a way to split the assets of a corporation.

For example, if 100 shares were taken out, one share would amount to one percent of the company's intellectual property.

6 0

2 years ago