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weqwewe [10]
3 years ago
12

Abbey Co. sold merchandise to Gomez Co. on account, $35,000, terms 2/15, net 45. The cost of the goods sold was $24,500. Abbey C

o. issued a credit memo for $3,600 for merchandise returned that originally cost $1,700. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions? a. $31,400 b. $7,972 c. $30,772 d. $10,500
Business
1 answer:
larisa [96]3 years ago
5 0

Answer:

b. $7,972

Explanation:

The computation of the amount of the gross profit earned is shown below:

But before that we have to do the following calculations

Net sales = $35,000 - $3,600 = $31,400

Merchandise cost = $24,500 - $1,700 = $22,800

Discount allowed= $31400 × 2% = $628

Now

Gross profit earned  is

= $31,400 - $22,800 - $628

= $7,972

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When a consumer is being engaged with an immersive multimedia​ experience, the consumer is enjoying the​ _________ feature of​ e
kodGreya [7K]

Answer:

richness

Explanation:

Immersive multimedia is considered as a new way of looking at the information. It helps to create an environment where users can experience indirect and direct views which are created by computer software’s, graphics and sound. The experience of customers increases when immersive multimedia techniques are used and likewise, it helps to understand and experience complete features of e-commerce

3 0
3 years ago
Which would be added in the Investing Activities section of the Statement of Cash Flows? Select one: a. Proceeds from Condemnati
Charra [1.4K]

Answer:

  • a. Proceeds from Condemnation of Land
  • c. Cash paid for unexpected major equipment repairs

Explanation:

The Cash Flow statement records only activities that affect the cashflow of the company. The Investing Activity section of the Cashflow statement deals with capital goods (PPE) and investments in other company securities.

The proceeds from land condemnation will go to the Investing activities section as it has to do with capital goods and the cash paid for unexpected major equipment repairs will see the equipment being used in the long term so it goes to Investing as well.

7 0
3 years ago
Country X's economy is in an inflationary gap. Which of the following combinations of fiscal and monetary policy actions would r
scoundrel [369]

Answer:

To restore full employment in the short run during an inflationary gap condition, the government has to apply contractionary fiscal and monetary policies that will reduce the supply of money.

Explanation:

     An inflationary gap is an economic situation that is characterised by excess demand. Particularly it is that situation when the real gross domestic product of a country is greater than the projected gross domestic product. In this condition, actual aggregate demand is higher than potential aggregate demand implying that more goods and services are needed to satisfy consumers. From another perspective, this could be caused by a fall in aggregate supply while aggregate demand remains stable.

Government intervention in this case is to reduce the money supply by implementing contractionary fiscal policies such as increasing taxes, reducing government expenditure which in turn reduces disposable income. Contractionary monetary policies that could be applied include increasing short-term interest rates, increasing reserve requirements. Though this policies come in with some unwanted side effects such as unemployemnt, they however serve as short term adjustment measures for an inflationary gap condition.

6 0
3 years ago
Suppose the federal government provides wheat farmers with a price floor above the market equilibrium price of wheat, creating a
stealth61 [152]

Answer:

D. Elimination of the price floor

Explanation:

A lowered priced goods facilitates increased quantity demanded but a decreased quantity of a specific goods/product supplied brings about reduction in surplus.

5 0
3 years ago
Nancy has decided to raise working capital for her upscale boutique business which currently has 4 locations and is considering
vlabodo [156]

Answer:

public sale

Explanation:

In business, a public sale happens when a company decides to issue shares and sell them on a stock exchange.

In this case, since Nancy's business is planning to expand its activities it has two options:

  1. issue new stock, if she is going to do it for the first time it would be an IPO.
  2. get a loan from a bank, but maybe she wouldn't be able to get a large enough loan.

To safest way to raise capital would be to issue stock.

7 0
3 years ago
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