Answer:
$0.
Explanation:
This is business bad debt. Therefore, partial worthlessness can be recognized in 2019. The 2019 loss is $8,000. In 2020, the collection of $1,000 would produce a $1,000 gain ($1,000 - 0) rather than a loss.
Answer:
= $ 650,000.
Explanation:
<em>Gross profit </em><em>is the profit made after subtracting the cost of the goods were sold (cost of inputs) to generate the revenue.</em>
Gross profit = Revenue - cost of sales
Cost of sales = opening inventory + production cost - closing inventory
Cost of sales = 50,000 + 2,200,000 - 150,000
= $2,100,000.
Gross profit = $2,750,000 - $2,100,000.
= $ 650,000.
Answer:
Lack of efficiency.
Explanation:
As Trent Automobiles Inc. was expecting a large shipment of scrap metal and due to the fact that it could not arrive on time, the only way to compensate the loss was to make an urgent order for same quantity of scrap metal from a local manufacturer, which led the company to compromise on the quality. If proper track was kept and all the upcoming scenarios had been calculated before hand with a ready substitute raw materials before hand, this would have been not the result. Thus, this indicates a complete lack of efficiency from the side of management of the company.
<span>Answer: Expectancy. Because Caron did not accept the extra project since the pay for completing was ten lottery tickets. The pay is characterized by chance.</span>