1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
just olya [345]
3 years ago
14

​Belstone, Inc. is a merchandiser of stone ornaments. It sold​ 15,000 units during the year. The company has provided the follow

ing​ information: Sales Revenue $ 510 comma 000 Purchases​ (excluding Freight​ In) 310 comma 500 Selling and Administrative Expenses 36 comma 000 Freight In 15 comma 900 Beginning Merchandise Inventory 42 comma 500 Ending Merchandise Inventory 59 comma 000 How much is the gross profit for the​ year?
Business
1 answer:
Georgia [21]3 years ago
8 0

Answer: $200,100

Explanation:

Given that,

Units sold = 15,000

Sales Revenue = $510,000

Purchases​ (excluding Freight​ In) = $310,500

Selling and Administrative Expenses = $36,000

Freight In = $15,900

Beginning Merchandise Inventory = $42,500

Ending Merchandise Inventory = $59,000

Cost of goods sold = Beginning Merchandise Inventory + Purchases​ + Freight In - Ending Merchandise Inventory

                                = $42,500 + $310,500 + $15,900 - $59,000

                                = $309,900

Gross Profit = Sales Revenue - Cost of goods sold

                    = $510,000 - $309,900

                    = $200,100

You might be interested in
Consumer surplus is A. the difference between the highest price a consumer is willing to pay and the price the consumer actually
ss7ja [257]

Answer is A

Explanation: Consumer surplus actually happens when a customer is willing and ready to pay for a particular product than its current market price. It is a measure of the additional benefits a consumer gets after paying for a product even though they are willing to pay more.

For example: Let's assume you want to get a IPhone 8 plus and you value it at $800 dollars, which you are ready to pay, but realise it is sold at $700. When you buy it at $700, the customer surplus is $100, that is a difference between how much you were willing to pay and the price you eventually got it.

Consumer Surplus changes as the equilibrium price of a good rises or falls. If the price of a good rises, the consumer surplus decreases but when the price of the good falls, the consumer surplus increases.

3 0
3 years ago
Broker jill has an agreement with seller alice that says jill will receive compensation if anyone except alice sells alice’s hom
Nataly [62]
This kind of agreement is called EXCLUSIVE AGENCY.
Exclusive agency is a contractual agreement under which the listing broker acts as an agent and the owner agree to pay a commission to him if the property is sold through the effort of any person with the exception of the owner of the property.
5 0
3 years ago
A key resource is assigned on multiple tasks that are running simultaneously. The project manager needs to minimize impact on ac
marin [14]

Answer: Resource levelling

Explanation:

Resource levelling is a term used in project management defined and is defined as a technique used where there is adjustment in the start and finish dates based on limitation in resources with the aim of balancing the demand for resources using the available supply.

While performing activities in project planning, the manager will try to schedule some tasks simultaneously. Resource leveling can be used to balance the workload of the main resources during the duration of of the project usually at the expense of either the time, cost or scope.

5 0
3 years ago
Read 2 more answers
On March 13, a company writes off a customer's account of $3,500. On June 3, the customer unexpectedly pays the $3,500 balance.
Yuri [45]

Answer and Explanation:

The journal entries are shown below:

1. Allowance for doubtful Accounts Dr      $3,500

            To Accounts receivable         $3,500

(Being the allowance for doubtful account is recorded)

2. Accounts receivable Dr $3,500

           To Allowance for doubtful Accounts $3,500

(Being the written off amount is recorded)

3. Cash Dr $3,500

        To Account receivable $3,500

(Being the cash collection is recorded)

Only these 3 entries are required

5 0
3 years ago
Delaney Inc. has several transactions with foreign entities. Each transaction is denominated in the local currency unit of the c
lina2011 [118]

Answer:

qwertyuiopasdfghjklzmnbxvctqyeuippskdnf

Explanation:

di kopo yarn alam

5 0
3 years ago
Other questions:
  • If the plaintiff, Carlene, files a case in the state court in Lucas County, Ohio, and the defendant, Carlos, wants the case hear
    13·1 answer
  • The share of ________ by the top firms is known as the concentration ratio.
    13·1 answer
  • Julio used when he set goals, developed action plans, reviewed progress and took corrective action as needed, and appraised perf
    13·1 answer
  • Julie is developing a budget for her firm's IMC program. First she sets objectives. Then she chooses media, and finally she dete
    6·1 answer
  • Monica graduated from high school this year and has a steady job. She feels ready to move into her own space and has $1,200 in s
    11·2 answers
  • The invention and rapid diffusion of more productive agricultural techniques is called ________, that involves introduction of _
    15·1 answer
  • g The Nite Lite Factory produces two products - small lamps and desk lamps. It has two separate departments - finishing and prod
    10·1 answer
  • Cash paid for equipment would be reported on the statement of cash flows in_________.
    11·1 answer
  • The Federalist party _________.
    11·1 answer
  • At the beginning of 2018, Artichoke Academy reported a balance in common stock of $168,000 and a balance in retained earnings of
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!