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
Naddik [55]
3 years ago
14

Data for Shelby Company for the current year is as follows:

Business
1 answer:
maks197457 [2]3 years ago
6 0

Answer:

Cost of goods sold is $7,700

Gross Profit is $2,300

Explanation:

Cost of goods sold is Cost of goods available for sale less ending merchandise inventory. Ending merchandise understated by $300 means ending merchandise was accounted $300 less. So, $300 need to be added to ending merchandise. No ending merchandise is $2,300 (2,000 + 300)

Cost of goods sold will be 10,000 - 2,300 = $7,700

Gross profit is sales revenue less cost of goods sold which is computed as shown below:

Gross profit = 10,000 - 7,700

                    = $2,300

You might be interested in
In the U.S., how is the deficit different than the national debt?
Vika [28.1K]
Deficit is the difference between what the government spends and what it takes in. National debt is the result of government borrowing money to cover years of deficits
6 0
3 years ago
In an e-business innovation cycle, after an organization scans the environment for new emerging and enabling technologies, the n
borishaifa [10]

Answer:

In an e-business innovation cycle, after an organization scans the environment for new emerging and enabling technologies, the next step is to match the most promising new technologies with current economic opportunities.

6 0
3 years ago
Read 2 more answers
country cupboard purchased inventory for $ 4 comma 800 and also paid a $ 360 freight bill. Country Cupboard returned 20​% of the
Ede4ka [16]

Answer:

A. $ 4,123

Explanation:

For accounting purposes we will consider as cost to ivnentory all the necessarycost incurred to get the merchandise ready for use. Therefore the returns and dsicount decrease the inventory as they weren't cost incurred.

The freight will count as necessary and incurred thus, added.

Invoice nominal          4,800

returns

4,800 x 20% =       <u>      (960)</u>

balance                      3,840

discount 2%           <u>        (76.8)   </u>

merchandise cost     3.763,2‬

freights-in          <u>          360     </u>

total cost                   4,123.2

3 0
3 years ago
An investor purchases a 12-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of in
marysya [2.9K]

Answer:

Value of the bond = $862.013

Explanation:

The value of the bond is the present value of the future cash receipts expected from the bond. The value is equal to present values of interest payment and the redemption value (RV).

Value of Bond = PV of interest + PV of RV

The value of the bond can be worked out as follows:

Step 1

<em>Calculate the PV of Interest payment </em>

Present value of the interest payment

PV = Interest payment × (1- (1+r)^(-n))/r

Interest payment = $40

PV = 40 × (1 - (1.05)^(-12×2)/0.05)

= 40 × 13.7986

= 551.945

Step 2

<em>PV of redemption Value </em>

PV of RV = RV × (1+r)^(-n)

= 1000 × (1.05)^(-12×2)

= 310.067

Step 3

<em>Calculate Value of the bond  </em>

= 551.94567 + 310.067

=862.01

Value of the bond = $862.013

 

3 0
3 years ago
An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced
yulyashka [42]

An important social trend is the continued concern for health and well-being in the United States is most likely evidenced by the introduction of fitness trackers such as the Fitbit.

<h3>What is social trend?</h3>

It should be noted that social trend simply means

the movement of a particular trend or its growth.

In this case, an important social trend is the continued concern for health and well-being in the United States is most likely evidenced by the introduction of fitness trackers such as the Fitbit

Learn more about social trend on:

brainly.com/question/2926894

#SPJ1

7 0
2 years ago
Other questions:
  • What is the initial investment outlay for the spectrometer, that is, what is the Year 0 project cash flow
    6·1 answer
  • Ben owns a lawn care business. from experience, ben has found that john deere equipment lasts almost twice as long as competitor
    12·1 answer
  • A customer bought a $1,000 par convertible subordinated debenture at par, convertible into common at $32 per share. If the bond'
    5·1 answer
  • An adjusted trial balance:Is a list of all accounts and their balances after adjusting entries.Is a list of all accounts and the
    6·1 answer
  • A lighthouse might be considered a private good if A. the owner of the lighthouse is able to exclude beneficiaries from receivin
    12·1 answer
  • A company's flexible budget for 44,000 units of production showed variable overhead costs of $57,200 and fixed overhead costs of
    11·1 answer
  • National Geographic is replacing an old printing press with a new one. The old press is being sold for $350,000 and it has a net
    9·1 answer
  • Pearl Company has been having difficulty obtaining key raw materials for its manufacturing process. The company therefore signed
    10·1 answer
  • A recent survey polled a sample of male Mexican-American adolescents to determine if there is an association between smoking and
    5·1 answer
  • ADDDDDDDDDDDDDDDDDDDDDDDDDDDDD MEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!