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serious [3.7K]
3 years ago
14

Traditionally, department stores almost exclusively offered soft goods. But now, most department stores focus on selling both ha

rd and soft goods. Group of answer choices True False
Business
1 answer:
Studentka2010 [4]3 years ago
5 0

Answer:

False

Explanation:

Traditionally, department stores sold both soft goods and hard goods. But now, most department stores focus almost exclusively on soft goods.

Soft goods refers generally to clothing and other textiles like bedding and fabrics.

Hard goods refers to a broad range of products like appliances, furniture, tools, electronics, etc.

You might be interested in
All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2016, with the exception of income tax
yulyashka [42]

Answer:

The income before tax is $370450, the income tax is $111135 and the net income is $259315.

Explanation:

As the data table is not visible,online a similar question is found for which the data is attached here with.

From the given data

Service Revenue=$943,000

Interest Revenue=$127,1000

Total Revenue=Service Revenue+Interest Revenue=$1070100

Now The expenses are given as

Supplies Expense=$349,200

Repairs and Maintenance Expense =$258,300

Depreciation Expense=$60,350

Rent Expense=$ 31,800

Total Expense=Supplies Expense+Repairs and Maintenance Expense+Depreciation Expense+Rent Expense=$699650

So the income before tax is given as

Income=Total Revenue-Total Expense

Income=$1070100-$699650

Income=$370450

So the income before tax is $370450.

Now the tax is estimated at 30% as given tax rate as

Tax=Rate*Income

Tax=30%*$370450

Tax=$111135

So the income tax is $111135.

Now the Net income is given as

Net Income=Income-Tax

Net Income=$370450-$111135

Net Income=$259315

So the Net Income is $259315.

8 0
4 years ago
A bank agrees to lend via simple loan $100 today to Thomas. The agreement is based on that the yearly interest rate is 15%. If T
Ede4ka [16]

Answer:

$404,55 (cumulative) or $250 (american)

Explanation:

This explanation considers a cumulative interest rate in the simplest way. And american amortization system. Consider that there is also French and German systems which works differently depending on the way the loan reimbursed

Cummulative Interest Rate:

Consider this:

If Thomas had to return it in one year he would have to return $115 ($100+15%) which is equal to 100*(1+0.15)

Now, at the begining of the second year, his debt is $115, and at the end its $115+15% = 132,25.  Which is equal 100*(1+0.15)*(1+0.15), this is equivalent to 100*(1+0.15)^{2}

The general formula for cummulative interest is C(1+i)^{n}

Where

C = is the loan amount [in this case: 100]

i = is the interest rate [in this case: 0.15]

n = is the number of periods until [in this case: 10]

American System

The american system is quite straight forward:

Thomas should pay $15 every year for 10 years, and with the last payment he should pay $115.

This is because in this system Thomas returns the capital (the amount of the loan) at the end; and each year he only pays the interest .

$15*10 + $100 = $250

7 0
3 years ago
On january 1, a company issues bonds dated january 1 with a par value of $360,000. the bonds mature in 5 years. the contract rat
MaRussiya [10]
An old fashion calculator to calculate the the number of the money and which the percentage what is was interest
5 0
4 years ago
You have $55,000 in a savings account that pays 2% interest per year. The inflation rate that year is 3.24%. To calculate simple
Len [333]

Answer:

How much do you make in interest in a year?

<u>$  1100</u>

How much would you need to have made for your spending power to keep up with inflation in that year?

<u>$  1782 </u>

How much buying power did you lose in that year because of inflation?

<u>$  682 </u>

Explanation:

Your interest formula is given to you.

Interest in a year = principal (the amount invested) * rate (the interest rate) * period (the time you're measuring)

Interest = 55,000 * 2% * 1 year = 55,000 * 0.02 * 1 = $1,100

How much would you need to have made for your spending power to keep with inflation?  Your interest rate would have needed to match the inflation rate, otherwise prices are going up faster than you're saving.

Required interest = 55,000 * 3.24% * 1 year = 55,000 * 0.0324 * 1 = $1,782

How much buying power did you lose?  The difference between your required interest and your actual interest.

Buying power lost = 1,782 - 1,100 = $682.  You lost this much in buying power.

Hope that helped :)

6 0
3 years ago
During the taking of its physical inventory, a company inadvertently counted its inventory as $98,000 instead of the correct amo
ivanzaharov [21]

Answer:

The misstatement would result in the overstatement of assets by $9,000 and also an overstatement of stockholders equity by the same amount.

Explanation:

When the balance of year end inventory is overstated, the cost of goods sold will be understated and this will result in an overstatement of the net income (and by extension, owners equity).

Given that a company inadvertently counted its inventory as $98,000 instead of the correct amount of $89,000

Amount overstated = $98,000 - $89,000

= $9,000

3 0
4 years ago
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