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DIA [1.3K]
3 years ago
7

A used-car dealer has a vehicle on the lot with a sticker price of $5999. if the dealer markup on used vehicles is 20%, how much

did the dealer pay for the car?
Business
2 answers:
cupoosta [38]3 years ago
5 0
A price markup is an increase in the price the dealer sells that he ensures in order to gain guaranteed profit. If the markup is 20%, this means that he added 20% of what he paid for the car, and used this price for sale. Therefore, we let x be the price the dealer paid for the car.

$5999 = x + 0.2x = 1.2x
x = $4999

Thus, the dealer paid $4999 originally for the car.

Yuki888 [10]3 years ago
3 0

Answer:

4,999.17

Explanation:

AP3X

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Brown Corporation earns $600,000 and pays cash dividends of $200,000 during 2012. Dexter Corporation owns 3,000 of the 10,000 ou
fomenos

Answer: $920,000

Explanation:

Given the following :

Beginning balance = $800,000

Brown's earning = $600,000

Casg Dividend = $200,000

Dexter's portion of brown's outstanding shares = 3000/ 10000 = 0.3

Therefore, Dexter's investment account is as follows :

Beginning balance + (earning × 0.3) - (Dividend × 0.3)

$800,000 + ($600,000 × 0.3) - ($200,000 × 0.3)

$800,000 + $180,000 - $60,000

$980000 - $60000 = 920000

4 0
3 years ago
Ayayai Inc. had the following balance sheet at December 31, 2019.
Mrrafil [7]

Answer:

(a) Increase in cash = $50,200

(b) Total Assets =  Liabilities and Stockholders' Equity = $298,900

Explanation:

Note: There are errors as date and name inconsistency in the requirements in this question. The requirements are therefore correctly stated before answering the question as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

The explanation of the answer is now provided as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

Note: See part (a) of the attached excel file for the statement of cash flows for the year 2020 for Ayayai Inc.

In the attached excel file, we have:

Increase in cash = $50,200

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

Note: See part (b) of the attached excel file for the balance sheet as it would appear as of December 31, 2020.

In the attached excel file, we have:

Total Assets =  Liabilities and Stockholders' Equity = $298,900

Download xlsx
8 0
3 years ago
Sleep Tight, Inc., manufactures bedding sets. The budgeted production is for 51,500 comforters this year. Each comforter require
andrezito [222]

Answer:

Total direct labor hours= 77,250

Direct labor cost= $911,550

Explanation:

Giving the following information:

Production= 51,500 units

Standard hours= 1.5 per unit

Standard rate= $11.8 per hour

<u>First, we need to calculate the direct labor hours required:</u>

Total direct labor hours= 1.5*51,500= 77,250

<u>Now, the direct labor cost:</u>

Direct labor cost= 77,250*11.8

Direct labor cost= $911,550

3 0
2 years ago
When a vacuum cleaner salesman persuades people to let him vacuum their living room for free, he is likely to increase his chanc
Afina-wow [57]
<span>He is using the foot in the door technique. This is when you ask for small things and ingratiate yourself to a person in order to make way for larger things that the person would not ordinarily do. You ask for something small, and then that makes them more likely to give you something larger when you ask.</span>
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3 years ago
Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine produ
ioda

Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine production and pricing decision is the kind of 'Market Socialist' economy.

Market socialism, sometimes known as liberal socialism, is an economic system that strikes a balance between free enterprise and socialist planning. In this system, businesses are publicly owned, but output and consumption are determined by the market rather than by governmental planning.

In real life, Market socialism components have been present in a number of different economies. A version of market-based socialism, based on socially owned cooperatives, workers' self-management, and market allocation of capital, is usually regarded as having existed in the former Socialist Federal Republic of Yugoslavia.

To learn more about Communist

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#SPJ4

8 0
1 year ago
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