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
Sveta_85 [38]
3 years ago
9

Ace Electric's income statement reports Sales of $100,000; Cost of goods sold of $46,000, Operating expenses of $34,000, Interes

t expense of $15,000, Income tax expense of $2,000, and Net income of $3,000. If you were to perform a vertical analysis of this income statement, you would divide each of these income statement line items by______________.
Business
1 answer:
sukhopar [10]3 years ago
3 0

Answer:

Total Sales

Explanation:

Vertical analysis is a financial statement analysis in which all the line items of any financial statements (income statement or balance sheet) are enlisted as a percentage of one main item. For income statement, the main item is total sales as the item starts with the total sales while for balance sheet, the main item is total assets as the summation of current and non-current assets conclude the total asset. Therefore, we need to give 100% for total sales if we analyse the ratio vertically.

You might be interested in
Calico Corporation produced 2 comma 500 units in Job 903. The following data is provided for Job 903 for the​ year: Direct mater
geniusboy [140]

Answer:

The total cost of Job​ 903 is $5,073.20

Explanation:

The computation of the total cost is shown below:

= Direct material used + Direct labor cost + overhead cost  (Predetermined manufacturing overhead rate per direct labor hour ×  Direct labor hours used in Job 903)

= $3,200 + $1,092 + ($18.60 × 42 labor hours)

= $3,200 + $1,092 + $781.20

= $5,073.20

7 0
3 years ago
hich of the following statement is CORRECT? A. A sunk cost is any cost that must be expended to complete a project and bring it
lbvjy [14]

Answer

D. A sunk cost is any cost that was expended in the past but can be recovered if the firm decides not to go forward with the project.

Explanation:

As per the data given in the question,

Option (D) is correct among the given statements. A sunk cost is that cost which was occurred and expended in the past and if firm decides to do not go ahead, it can not be recovered.

For illustration - Think about the cost incurred to find out the feasibility of the project. Though in past firm was agree with the project but now even if the firm decides not to the project, this cost can not be recovered.

8 0
3 years ago
Dakota, Inc. is a merchandiser of medallions. The company sold​ 15,100 units during the year. The company has provided the fol
love history [14]

Answer:

$19.21

Explanation:

The computation of the unit cost per item is as follows:

Beginning merchandise inventory $52,000

Add: Purchases + freight in   $293,000  ($280,000 + $13,000)

Less: Ending merchandise inventory -$54,900

Cost of goods sold     $290,100

Now the cost of goods sold per unit is

= $277,100 ÷ 15,100 units

=  $19.21

7 0
3 years ago
Ignoring taxes what is the effect on earnings in the year after the shares are granted to executives
ipn [44]

Answer: C. $40 million.

Explanation:

By granting them 15 million shares subject to forfeiture if employment is terminated within three years, the company is compensating them.

The total amount that they will be compensated with has to be apportioned over the 3 years as an expense that will reduce earnings per year.

Total compensation = No. of shares * fair value of shares

= 15,000,000 * 8

= $120,000,000

Apportioned over 3 years;

= 120,000,000/3

= $40,000,000

4 0
3 years ago
All other things being equal, what is the best type of investment income?
Ivahew [28]

Answer and Explanation:

The best type of investment income that is earned is tax-exempt that depend upon the commission only also the income that is spent should be bigger for the recipient

And at the time of seeking advice, the fee only should be likely to offer an unbiased advice because no other extra financial gains should be advised for an investment made except this professional fee

While the other options are ignored as they contain some interest regarding a commission for advising to their clients

8 0
2 years ago
Other questions:
  • Knowledge Check 01 Product A Product B Selling price per unit$20 $15 Variable cost per unit 12 9 Contribution margin per unit$8
    8·1 answer
  • Which of the following events are examples of positive social media coverage?
    12·1 answer
  • Cory issued a note to his creditor in exchange for an account. Cory records the transaction by debiting
    11·2 answers
  • A stock is currently priced at $52.50 a share. One year from now, the stock price is expected to be either $54 or $60 a share. T
    14·1 answer
  • Safefen, a safety assurance and standards association in the country of Eilenst, made it mandatory for all the toy manufacturers
    7·1 answer
  • While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being
    12·1 answer
  • If capital rents for $25 per unit per hour, labor can be hired for $9 per unit per hour, the level of total factor productivity
    15·1 answer
  • Suppose that three firms make up the entire wig manufacturing industry. One has a 60% market share, and the other two have a 20%
    12·1 answer
  • if, after reflecting on the nature of leadership you decide that all leaders must treat their followers with respect, then you h
    8·1 answer
  • Record the information you found for steps 2 and 3 here. Make sure you discuss how the company got money to start the business,
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!