Percent markup based on the selling price: 28.1%
Explanation:
The cost of the TV for the seller was
Of this, the markup of this price was 39%. Therefore, the value of the markup (in dollars) with respect to the cost for the seller was
So, this was the markup relative to the cost for the seller.
The price paid by the purchaser instead is
Therefore, the percent markup based on the selling price (paid by the purchaser) is:
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Answer:
The correct answer is: Stew Leonard's uses an integrated talent management system.
Explanation:
An integrated talent management system allows companies to handle information across Human Resources, payroll, and benefits administration. This system requires the collaboration of employees in an organization usually through surveys so the worker's point of view on benefits and management can be considered by high-rank executives.
Answer:
The inventory method which results in the highest gross profit for June is FIFO
Explanation:
Month Units Cost U/cost LIFO E.INVEN. I.COST
jun-01 123 850 7 123 861 0
jun-10 164 1280 8 47 376 936
jun-15 164 1380 8 0 0 1312
jun-28 123 1080 9 0 0 1107
4590 170 1237 3355
FIFO E.INVEN. I.COST
7 0 0 861
8 0 0 1312
8 47 376 936
9 123 1107 0
170 1483 3109
Answer: The current book value of an equipment purchased three years ago is $6983.925
.
There are two ways to solve this question.
<h3>Method 1</h3>
In this method, we compute the depreciation for each of the three years and deduct the total depreciation calculated from the purchase value of the equipment to arrive at the book value of the equipment.
Equipment Value: $94,250
Year MARCS Depreciation Rate Depreciation
1 0.3333
2 0.4445
3 0.1481 <u> </u>
Total 87266.075
Value at the end of year 3 is $94,250 - 87266.075 = 6983.925
<h3>
Method 2</h3>
In this method, we add up the depreciation rates and deduct from 1. We then find the product of this number and the cost of the equipment to arrive at the current book value.
<u>Solution and Explanation:</u>
A Balance Sheet is as follows:
Assets
Current assets
Cash 11000
Trading securities 6000
Accounts receivable (net) 24000
Inventory 30000
Prepaid expense 2000
The Total current assets 73000
The Long term investment
Land held for future business site 18000
The Total investment 18000
Property,plant and equipment
Equipment 25000
Less: the Accumulated depreciation
on equipment and furniture -15000
Total property,plant and equipment 10000
Intangible assets
Patent 4000
The Total intangible assets 4000
The Total Assets 105000