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german
3 years ago
6

Jack Corporation uses horizontal analysis to compare its income statement from year to year. Jack Corporation reported the follo

wing data last year as well as the percent change when compared to the current year:
Total Last Year % Change in Current Year
Sales Revenue $600,000 7.00%
Cost of Goods Sold $180,000 1.00%
Gross Profit $420,000

What is the Cost of Goods Sold in the current year?

A. $657,600
B. $560,748
C. $642,000
D. $42,000
Business
1 answer:
fredd [130]3 years ago
6 0

Answer:

Current year cost of goods sold is $181,800.

Explanation:

The current year cost of goods sold is calculated as follows:

Current year cost of goods sold = Last year cost of goods sold + Current year change

= $180,000 + ($180,000 * 1%)

= $180,000 + $1,800

= $181,800

Therefore, current year cost of goods sold is $181,800.

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Answer:

Wal-Mart has taken revolutionary steps over the years to start econ friendly activities to promote ethics and social responsibility.

Explanation:

Wal-Mart began to take initiatives to address global impacts and embraced a sustainability program. It concentrated on redoing everything, and the main centre was to be Eco-friendly. There were original and inventive techniques received by the organisation, including building a solar panel to the stores. There was likewise establishment of innovations to use less fuel and electricity.

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2 years ago
In a perfectly competitive​ market, all of the following statements are true​ except: A. Marginal revenue is the same as price.
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Answer: Marginal revenue is equal to price times quantity

Explanation:

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It should be noted that the statement that the marginal revenue is equal to price times quantity is incorrect. The total revenue is equal to price times quantity.

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2 years ago
On January 1 of the current year, Tell Co. leased equipment from Swill Co. under a 9-year sales-type (finance) lease. The equipm
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Answer:

The yearly depreciation on the asset is $56,111.11

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In this case,only present value of future cash flows is available,hence that is the amount of right-of-use to depreciated over nine year period.

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