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3 years ago

How gross profit or loss is computed

Business

1 answer:

Nutka1998 [239]3 years ago

5 0

Answer:

Take your gross sales revenue for the accounting period and subtract discounts, allowances and returns. This gives you net sales. Subtract the cost of goods sold from net sales and you get gross profit. In some cases, this might be a gross loss

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Why are people engaged in business?? Write in points

Sladkaya [172]

Answer:

they are able to set their own hours and policies.

Establish prices.

Mall Critical decisions on how to operate the company.

Some people don't want to work for a boss. Others have an innovative mind or brilliant idea

People also engage in business to make a difference in the world.

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3 years ago

You have a standard practice of displaying all student work in your classroom. Recently, you assigned students to write any essa

Tresset [83]

Answer:

The first amendment involves the freedom off free scheech and religion. Meaning that a person can not criticize or not display a person's religion based on your own beliefs or beliefs of others.

Explanation:

Reference possibilities could be

1. http:/guides.library.harvard .edu/

2. Your state website ie Maine.gov mass.gov

3. USA.gov is the federal law

4. Loc.gov is the library of congress

5. 6. Supremecourtus.gov and supremecourts

Gov/opinions for us Supreme Court and recent opinions

7. Law.cornell.edu/citation for legal citations for legal arguments if needed as well as taking the citation out of the address bar to use for finding the law online

8. Http.thelawdictionary.org for legal terms or the black law dictionary

Be cautious of commercial websites some that are good and can give information that is not completely accurate.

C1. Findlaw.com

C2. Lexisone.com for federal and state cases and statutes

Both are used for general information.

Good luck.

5 0

3 years ago

Which of the following best represents a "supply curve"?

mestny [16]

Answer:

I think the answer is B

Explanation:

if theres a drop in supply there will be a price change aswell, most of the time increases the price of products.

6 0

3 years ago

Pitney Co. purchased an office building, land, and furniture for $639,300 cash. The appraised value of the assets was as follows

serg [7]

Solution :

a). Amount to be recorded on the books for each of the assets.

Working Allocated cost($)

Land (639,300 / 716,016 )x 136,043 121467

Building (639,300 / 716,016 )x 179,004 159825

Furniture (639,300 / 716,016 )x 400,969 358008

Total 639,300

b). Statement model

Assets : Cash + Land + Building + Furniture

639,300 + 121,467 + 159825 + 358008

Cash flow = 639,300

c). Journal entry

General journal Debit($) Credit($)

Land 121,467

Building 159,825

Furniture 358,008

Cash 639,300

5 0

3 years ago

Turnbull Corporation is constructing an office building that it will use in its business. Construction of the building started i

Scorpion4ik [409]

Answer: $12000

Explanation:

The amount of interest should Turnbull include in the cost of the building from the current period will be calculated as the outstanding debt multiplied by the interest rate. This will be:

= $200,000 × 6%

= $200,000 × 6/100

= $200,000 × 0.06

= $12,000

Therefore, the correct option is C.

5 0

3 years ago

How gross profit or loss is computed​

How gross profit or loss is computed