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lidiya [134]
3 years ago
7

Gross profit is equal to a. sales plus cost of goods sold b. sales less selling expenses c. sales less cost of goods sold d. sal

es plus selling expenses
Business
1 answer:
alexdok [17]3 years ago
8 0

Answer:

sales less cost of goods sold

Explanation:

Gross profit is the profit earned after after deducting the costs of goods sold from revenue

I hope my answer helps you

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You purchased five August 13 futures contracts on soybeans at a price quote of 1056′6. Each contract is for 5,000 bushels with t
stira [4]

Answer:

B) $1,187.50

Explanation:

The computation of the total profit or loss on this investment is given below:

Expiration price = 1061'4  = 1061 + 4 ÷ 8 = 1061.50

Quoted price = 1056'6 = 1056 + 6 ÷ 8 = 1056.75

Now the profit is

= (1061.50 - 1056.75) × 5000 × 5

= $1,187.50

Hence, the profit on this investment is $1,187.50

3 0
2 years ago
A consultant predicts that there is a 25 percent chance of earning $500,000 and a 75 percent chance of earning $100,000. The exp
antiseptic1488 [7]

Answer:

$173,205

Explanation:

According to the scenario, computation of the given data are as follows:

Given data:

Earning (X1) = $500,000

Chances of X1 (Y1) = 25%

Earning (X2) = $100,000

Chances of X2 (Y2) = 75%

Expected Profit (Z) = $200,000

Formula for solving the problem are as follows:

Standard deviation = [ (X1 - Z)^2 × Y1 + (X2 - Z)^2 × Y2 ]^1/2

By putting the value in the formula, we get

Standard deviation = [ ($500,000 - $200000)^2 × 0.25 + ($100,000 - $200,000)^2 × 0.75 ]^1/2

= [ $22,500,000,000 + $7,500,000,000 ]^1/2

= ($30,000,000,000)^1/2

= $173,205.08 or $173,205

Hence, $173,205 is the correct answer.

6 0
3 years ago
Joint ventures: a. are an alternative to new ventures. b. are attractive when entry barriers are high. c. are attractive when sp
Dafna11 [192]

Answer:

Are an alternative to new ventures.

Explanation:

Joint ventures is a business arrangement between two of more organisations to form a partnership. The oganisations involved share ownership, profits, investments.

A joint venture provides access to a large number of resources and it also provides the opportunity to gain new insight and expertise.

Different organizations enter into joint venture for either the purpose of a production process or research avtivity.

3 0
3 years ago
Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $68,000 and $3450, re
prohojiy [21]

Answer:

  • What amount will Allegheny report as bad debts Expense on its Year 2 income statement?

Dr Bad Debt Expense $ 8,250

Cr Allowance for Uncollectible Accounts $ 8,250

Explanation:

  • Balances in Accounts Receivable and Allowance for Doubtful Accounts of:

Dr Accounts receivable $ 68,000

Cr Allowance for Uncollectible Accounts $ 3,450

 

  • Allegheny write off $6300 of Uncollectible Accounts.  

Dr Allowance for Uncollectible Accounts $ 6,300

Cr Accounts receivable $ 6,300

 

  • Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $5,400  

Dr Bad Debt Expense $ 8,250

Cr Allowance for Uncollectible Accounts $ 8,250

Because the company already has a DEBIT balance ($2,850) in the Allowance for Doubtful Accounts  

it's necessary to register an entry that COMPENSATE ($8,250) the existing value and reflect the value estimated as bad debts ($5,400 = $8,250-$2,850).  

If the company applies the allowance method, it means that the account Allowance for Uncollectible Accounts must show as balance the % of estimated value.

Bad accounts are those credits granted by the company and there is no possibility of being charged.

"When customers buy products on credits but the company cannot collect the debt, then it's necessary to cancel the unpaid invoice as uncollectible."

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets .

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Reserve for Bad Accounts (credit)

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit)  with accounts receivable (credit), with this we are recognizing the bad credit of the company.

8 0
3 years ago
Bennett Co. has a potential new project that is expected to generate annual revenues of $255,800, with variable costs of $141,20
Mandarinka [93]

Answer:

b. $124,120

Explanation:

4 0
2 years ago
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