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Marianna [84]
3 years ago
5

Using the information below, calculate gross profit for the period:

Business
1 answer:
patriot [66]3 years ago
8 0

Answer:

a. $749,000.

Explanation:

The computation of the gross profit is shown below:

Gross profit = Sales Revenues for the period - Cost of Goods Sold for the period

= $1,324,000 - $575,000

= $749,000

It is shown in the income statement

We simply deduct the cost of goods sold from the sales revenue so that the gross profit can come

All other information which is given is not relevant. Hence, ignored it

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An oligopolistic market structure is distinguished by several characteristics, one of which is market control by a few large fir
hichkok12 [17]

Answer: Option A

Explanation: The basic organisational structure and several different characteristics prevailing in a business environment together constitutes a market structure. In an oligopolistic there are very few large firms which dominate the market, for example - auto industry.

As firms in the oligopolistic market are very high this results in high concentration in the market. Each firm in this market structure operates in so large scale that actions of one affects the operations of others.

Usually the capital need in such industries is too large making it difficult to entry also the need for several licenses acts as barriers to entry but there is no such thing like NO ENTRY in such industries.

5 0
3 years ago
Wally and Sally want to go into business together and plan on offering a tutoring service to high school and college students. W
sashaice [31]

Answer:

A. Yes, because the corporation would be required to pay tax on its profits, and the shareholders would also be required to pay taxes on dividends

4 0
3 years ago
The goal of ____ is to establish international technological standards to facilitate the global exchange of information and barr
arsen [322]

The goal of <u> ISO</u>  is to establish international technological standards to

facilitate the global exchange of information and barrier-free trade.

<h3 /><h3>what is the goal of ISO in IT to global exchange?</h3>

  • The International Organization for Standardization (ISO) is an international nongovernmental organization made up of national standards bodies;

  • It develops and publishes a wide range of proprietary, industrial, and commercial standards and is comprised of representatives from various national standards organizations.

  • The organization's abbreviated name—ISO—is not an acronym; it derives from the ancient Greek word ísos, meaning equal or equivalent.

  • Because the organization would have different acronyms in different languages, the founders of the organization decided to call it the short form ISO.

  • The International Organization for Standardization (ISO) is an international nongovernmental organization made up of national standards bodies that develop and publishes a wide range of proprietary, industrial, and commercial standards.

  • The International Organization for Standardization (ISO) was founded in 1947 and is headquartered in Geneva, Switzerland.

  • In addition to producing standards, ISO also publishes technical reports, technical specifications, publicly available specifications, technical corrigenda, and guides.

To learn more about ISO, refer

to brainly.com/question/25311149

#SPJ4

5 0
2 years ago
Kingston anticipates total sales for June and July of $370,000 and $318,000, respectively. Cash sales are normally 60% of total
Alex17521 [72]

Answer:

$117,600

Explanation:

Given that the company  has Cash sales that are normally 60% of total sales and Of the credit sales, 25% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale

In June, total sales $370,000

Amount that would not have been collected from this sale at the end of July

= 40% * 15% * $370,000

= $22,200

In July, total sales is $318,000,

Amount that would not have been collected from this sale at the end of July

= 40% *75% *  $318,000

= $95,400

Hence the amount of accounts receivable reported on the company’s budgeted balance sheet as of July 31

= $22,200 + $95,400

= $117,600

8 0
3 years ago
You invest $22,000 in 3 funds, fund A, fund B and fund C. You invest twice as much in fund C as fund B. Annually, fund A yields
zimovet [89]

Answer:

$7,000 was invested in Fund A

Explanation:

As per given Condition

A + B + C = $22,000 (1)

A5% + B8% = $750 (2)

As given

C = 2B

Placing C value in 1

A + B + 2B = $22,000

A +3B = $22,000 (3)

Multiplyin (2) by 20

A (0.05) x 20 + B (0.08) x 20 = $750 x 20

A + 1.6 B = $15,000 (4)

Subtracting (4) from (3)

A +3B - (A + 1.6 B ) = $22,000 - $15,000

A +3B - A - 1.6 B ) = $7,000

1.4 B = $7,000

B = $7,000 / 1.4

B = $5,000

As

C = 2B

C = 2 x $5000

C = $10,000

Placing value of B and C in (1)

A + $5000 + $10,000 = $22,000

A + $15,000 = $22,000

A = $22,000 - $15,000

A = $7,000

<u>CHECK</u>

A5% + B8% = $750

$7000 x 5% + $5,000 x 8% = $750

350 + $400 = $750

$750 = $750

7 0
3 years ago
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