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Marianna [84]
4 years ago
5

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

Business
1 answer:
patriot [66]4 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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A city sells $15 million of general obligation bonds on October 1, 2019. The bonds mature at the rate of $1 million a year each
alexgriva [62]

Answer:

The multiple choices are:

a.$15,000,000

b.   $14,000,

c.    $13,750,000

d.   $0

The correct option is D,$0

Explanation:

The city by all standards should have adopted a modified accrual basis of accounting where amounts owed in terms of principal and interest payments are not recorded in the necessary books of accounts until they become due.

As at 30,2020,the amount due in respect of the loan has been recorded and paid off,hence as at 31st December,2020,no amount is due in respect of the general obligation bonds issued,hence no recording would be effected until next obligation date when the amount to be paid is due

4 0
4 years ago
Discuss why employees who are committed will be less likely to engage in work withdrawal even if they are dissatisfied.
EastWind [94]

Answer:

Due to organizational loyalty

Explanation:

In simple words, an individual who is committed to their work or organization will still work at his or her best if even if they are not very satisfied with the their current conditions. This is due to the loyalty that they develop over time. These strong feelings somehow force them to give their best and make them realize that this is not a permanent situation and things will change in future.

3 0
3 years ago
Which events listed below would terminate a brokerage relationship where a broker represented a seller
sertanlavr [38]

The events listed that would terminate a brokerage relationship where a broker represented a seller are:

  • The house sold and the transaction closed
  • The owner declares personal bankruptcy

<h3>Who is a broker?</h3>

Broker is a person or a company whose work is to sell a company's products hence charge a commission for each product sold. He is like an intermediator between the company and the client.

An agency relationship creates a fiduciary duty owed by the agent to the principal, hence must act in the best interest of his principal at all times.

However, a brokerage relationship may be dissolved where the owner of an item is declared bankruptcy and also were transaction have been completed or closed.

Learn more about brokerage here: brainly.com/question/7284696

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5 0
2 years ago
Economic theory defines specialization as the production of one or just a few goods and services. Specialization refers to how a
Delvig [45]

Answer:

Both countries can benefit from trade through specialization.

Explanation:

Specialization refers to the situation when an individual, organization or country focuses on available resources and instead of producing a lot of products, they produce what they may need.  

A country achieves specialization by producing a greater quantity of the goods it can produce at lower opportunity cost.  

Through specialization, both countries involved in trade can produce well in a larger quantities than they need to consume. They trade the excess goods and are able to consume at a point beyond their production possibility curve.

3 0
3 years ago
While overall labor union membership has been declining over the last few decades, which type of workers has the highest percent
Mariana [72]

The workers that have the highest percentage of union memberships are those in

  • education
  • training
  • library occupations

<h3>What is a  labor union?</h3>

This is a term that is used to refer to the labor unions that are formed in order to represent the workers that are in a country.

The unions are known to represent workers in terms of benefits, wages and labor hours.

Raed more on labor unions here: brainly.com/question/881501

5 0
2 years ago
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