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
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

You might be interested in
When the CEO of an organization redesigns the organizational chart to define different reporting relationships among the organiz
alex41 [277]

Answer:

The correct answer is: command groups.

Explanation:

Formal groups are created by the organization and are intentionally designed to direct members towards an important objective of the organization. A type of formal group is referred to as a group of commands (that is, those that can legitimately give orders to others). Formal organization group can also be formed around a specific task. This group is known as a task group. Unlike command groups, a work group can be made up of people with some special interest or experience in a given area, regardless of their positions in the hierarchy of the organization. It consists of managers, subordinates, or both, with close relationships between group members that influence the behavior of individuals in the group.

6 0
3 years ago
a tv retailer suppose that in order to sell a number of tvs the price per unit must follow the model p=600-0.3n
Karolina [17]
Answer:
you would have to sell 2,000 tvs the price per unit each 600 to follow the model
step-by-step explanation:
p = 600 - 0.3n
600/0.3
p = 2,000n
3 0
3 years ago
Rosita purchased a bond for $989 that had a 7% coupon and semiannual interest payments. She sold the bond after 6 months and ear
Len [333]

Answer:

The price she sold the bond is $1,001.47

Explanation:

The formula for yield return in given as ;

Yield to maturity= (Annual interest+ per value - market price ÷ numbers of years to maturity)/per value+ market price÷ 2

048 = (Selling price + [(.07 × $1,000)/2] - $989)/$989

Making selling price the subject of formula we have this as the abswer

Selling price = $1,001.47

3 0
3 years ago
A manufacturer tests, modifies, and retests an original idea several times before offering it to the consumer. This process is c
taurus [48]

Answer:

Product development

Explanation:

A manufacturer tests, modifies, and retests an original idea several times before offering it to the consumer. This process is called product development.

A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.

Generally, there are four (4) stages in the product-life cycle;

1. Introduction.

2. Growth.

3. Maturity.

4. Decline.

7 0
3 years ago
A private university is made up of various "schools," such as the School of Journalism, the School of Business, the School of La
Oxana [17]

Answer:

The correct answer is D

Explanation:

SBU stands for Strategic business unit , it is a profit center whose focus is on the product offering and the market segment. It is usually have a marketing plan which is discrete, marketing campaign and analysis of competition, though it is a part of larger business entity.

So, the private university facing financial problems, they decided to become a profit center. Therefore, this scheme is parallel to SBU which is Strategic business unit.

6 0
3 years ago
Other questions:
  • Political unrest in countries often creates a hostile environment for foreign businesses and can act as a barrier to internation
    11·1 answer
  • _________ are used in place of writing checks. The amount you spend using this card will be deducted from your checking account.
    13·2 answers
  • Choose two occupations one that pays high wages and one that pays low wages. explain the reasons of the differences
    10·1 answer
  • Tawana owns and operates a sole proprietorship and has a 37 percent marginal tax rate. She provides her son, Jonathon, $8,000 a
    6·1 answer
  • Mini’s ice cream stand offers different combinations of premium flavors, cones, and toppings to create hundreds of extravagant,
    9·2 answers
  • You want to purchase a motorcycle 4 years from now, and you plan to save $3,500 per year, beginning immediately. You will make 4
    5·1 answer
  • Each of the following is a reward of entrepreneurship EXCEPT:
    8·1 answer
  • Ned Douglas owns Ned’s Blankets. Ned asks you to explain how he should treat the following reconciling items when reconciling th
    6·1 answer
  • The pattern of planned human resource deployments and activities that are intended to enable an organization to achieve its goal
    13·1 answer
  • If a country engages in international trade to gain access to natural resources, they
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!