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navik [9.2K]
3 years ago
6

Mel operates a video game store. His records indicate that he had sales of $78,000. Customers returned $1,500 worth of video gam

es because of various defects. His cost of goods sold was $19,000. What is Mel's Schedule C gross income?A. $78,000B. $76,500C. $59,000D. $57,500
Business
1 answer:
Kamila [148]3 years ago
7 0

Answer:

D. $57,500

Explanation:

Gross income = sales - (goods returned + cost of goods sold) = $78,000 - ($1,500 + $19,000) = $78,000 - $20,500 = $57,500

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Answer:

Answer is option D, i.e. Information on credit worthiness.

Explanation:

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8 0
3 years ago
Imagine that odyssey national is a brand new bank, and that its required reserve ratio is 10 percent. if it accepts a $1,000 dep
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Hi there
Excess reserve balance is
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8 0
3 years ago
Read 2 more answers
You are given the following information with respect to a bond: par value: 1000 term to maturity: 3 years annual coupon rate 6%
Minchanka [31]

Answer:

Tha annual effective yield rate for the bond is:

= 6.2%

Explanation:

a) Data and Calculations:

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OR

Annualized effective yield rate = (Annual coupon payments/Current value of bonds)

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5 0
2 years ago
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Vikentia [17]

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