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mina [271]
4 years ago
6

Johnson, Inc. has just ended the calendar year making a sale in the amount of $10,000 of merchandise purchased during the year a

t a total cost of $7,000. Although the firm paid in full for the merchandise during the year, it has yet to collect at year end from the customer. The net profit and cash flow from this sale for the year are
Business
1 answer:
Alexxx [7]4 years ago
7 0

Answer:

The net profit = $ 3,000

Cash flow from the sale for the year = - $ 7,000

Explanation:

Given:

Total sales = $ 10,000

Total cost of the merchandise purchased = $ 7,000

Therefore, the net profit = Total sales - Purchase cost of the merchandise

or

The net profit = $ 10,000 - $ 7,000

ot

The net profit = $ 3,000

Since,the cash is not collected yet,

Therefore, the cash flow = account receivable = - $ 7,000

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The process of gathering information about the competitive environment, including competitors' plans, activities, and products,
Sholpan [36]

Answer: (C) Competitive intelligence

Explanation:

 The competitive intelligence is one of the process of analyzing the various types of information that helps in learned abut the market, consumers and the competitors.

The main objective of the competitive intelligence is that it helps in support the various types of strategic decisions in an organization.

According to the given question, the competitive intelligence is helps in gathering the data for improving the ability of an organization in this competitive environment.

 Therefore, Option (C) is correct answer.

6 0
3 years ago
All currencies are worth exactly the same.<br><br> Question 45 options:<br> True<br> False
ycow [4]

Answer:

False!

Explanation:

that's why they are different sizes, material, and weight!

Some american dollars are worth alot more than a dollar in say, mexico. Our resources are more valuable.

Glad I could help!

6 0
3 years ago
Read 2 more answers
Koebel Corp uses a job order costing system with manufacturing overhead applied to products on the basis of direct labor hours.
Lynna [10]

Answer: See explanation

Explanation:

a. Calculate the predetermined overhead rate Overhead Rate per hour

Predetermined Overhead rate will be the estimated total manufacturing overhead divided by the estimated total direct labor hours. This will be:

= $ 921,600/51,200

= $ 18

(b) Calculate how much manufacturing overhead will be applied to production

Manufacturing overhead that'll be applied to production will be the predetermined overhead rate multiplied by the actual total direct labor hours. This will be:

= $ 18 × 48,900 direct labor hours

= $ 880,200

(c) Is overhead over- or underapplied? By how much?

The Actual Overhead Incurred = $902,900 while the manufacturing overhead applied = $880,200. This shows that overhead is underapplied due to the fact that manufacturing overhead applied is less than the actual overhead that is incurred.

Therefore, the amount of overhead that was underapplied will be:

= $ 902,900 - $ 880,200

= $ 22,700

(d) What account should be adjusted for over-or underapplied overhead? Should the balance be increased or decreased?

Based on the scenario in the question and the answers calculated, the cost of goods sold should be increased.

4 0
3 years ago
Time to reach a financial goal You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the e
andrew11 [14]

Answer:

It take to reach your goal is 11 years

Explanation:

given data

initial fixed amount = $42,180.53

deposit additional = $5,000

account totals = $250,000

expect to earn r = 12%

solution

we will apply Future value of annuity that is express as

Future value of annuity = initial fixed amount ×  (1+r)^{t} + deposit additional  × \frac{(1+r)^t-1}{r}     ......................a

put here value and we get

250,000 = 42,180.53  \times (1+0.12)^{t} + 5,000 \times  \frac{(1+0.12)^t-1}{0.12}          

solve it we get

time t = 11

so it take to reach your goal is 11 years

6 0
3 years ago
A hardware store owner placed an advertisement for Sylvania LED bulbs in the local newspaper. Sylvania provided the storeowner w
Zolol [24]

Answer:

cooperative advertising

Explanation:

Based on the scenario being described within the question it can be said that Sylvania was using cooperative advertising to promote its products. This refers to when a retailer/wholesaler and a manufacturer share the costs for locally placed advertisements. Such as Sylvania is doing by paying 50% of the advertisement, mainly because it also benefits them to place their sample advertisements as well.

3 0
3 years ago
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