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Mariulka [41]
3 years ago
12

Dave's Duds reported cost of goods sold of $1,300,000 this year. The inventory account increased by $170,000 during the year to

an ending balance of $495,000. What was the cost of merchandise that Dave's purchased during the year?
A. $3,445,000.B. $2,750,000.C. $2,355,000.D. $3,050,000.
Business
1 answer:
ioda3 years ago
7 0

Answer:

$1,470,000

Explanation:

As we know that

Cost of goods sold = Opening inventory + Purchase - ending inventory

where,

Opening inventory would be

= $495,000 - $170,000

= $325,000

So, the purchase would be

$1,300,000 = $325,000 + Purchase - $495,000

$1,300,000 = -$170,000 + Purchase

So, the purchase would be

= $1,300,000 + $170,000

= $1,470,000

This is the answer but the same is not provided in the given options

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Perfect Clean, Inc. provides housekeeping services. The following financial data have been provided.
ioda

Answer:

A) $38,650; 48.31%

Explanation:

The computation of the contribution margin and the contribution margin ratio is shown below:

Contribution margin = Service Revenue - Cleaning Supplies Used - wages expense

= $80,000 - $22,000 - $19,350

= $38,650

The variable cost is Cleaning Supplies Used + wages expense

And, the contribution margin ratio equals to

= (Contribution margin ÷ sales) × 100

= ($38,650 ÷ $80,000)  × 100

= 48.31%

7 0
3 years ago
The amount of a real estate broker's commission is
zvonat [6]

In India, the majority of properties are sold with the help of a real estate broker or agent. When the broker helps a seller and buyer get in touch with each other and both the parties agree to engage in the transaction, then both the parties are required to pay a certain %age of the property value as a fee to the real estate broker. Read below to know about the real estate broker commission rates India:

There are no specific guidelines laid for the commission paid to real estate brokers. In India, real estate agents usually ask the seller and the buyer to pay 1-2% of the deal value as their commission, also known as the real estate brokerage fee.

8 0
2 years ago
According to the value in diversity problem-solving approach A. surface-level diversity is less likely to lead to team cohesion
marshall27 [118]

Answer:

The correct answer is option E (diversity in teams is beneficial because it provides for a larger pool of knowledge from which a team can draw as it carries out its work).

Explanation:

Diversity in an organization/team is broad in its definition as it describes a group of individuals who are from different backgrounds, races, ages, education working for a common goal.

When we talk about surface-level diversity, then we are pointing at those visible differences such as sex, age. While Deep-level diversity is those characters that are not visible such as beliefs, likes, dislikes, temperament.

Diversity in teams is beneficial because team members would have diverse backgrounds, experiences, problem-solving capacities, exposures, bringing diverse solutions to the team which leads to good team performance, and a quick, better solution to problems.

3 0
3 years ago
Two stockbrokers, in clear violation of the rules of their employer, sold worthless stocks to unsuspecting customers. There was
ZanzabumX [31]

Answer: Yes they did.

Explanation:

Apparent Authority refers to a scenario where a Agent is assumed to have the power to act on behalf of a Principal regardless of if said authority had not being expressly given whether implicitly or otherwise.

It is worthy of note that this power is only valid if the third party in the transaction assumes from the conduct of the agent, that they have such powers to act.

It is stated in the text that there was no question that the brokers had the actual or implied authority to sell the stock meaning that the Principal had not done enough to show that the agents did not have the Authority to act as they did. For this reason, they can indeed be sued under the Principle of Apparent Authority.

7 0
3 years ago
reported net income of $22,000 for the current year. During the year, Inventory decreased by $7,800, Accounts Payable decreased
Artist 52 [7]

Answer:

$24,800

Explanation:

Indirect method reconciles the Net Income to Operating Cash flow by adjusting for non -cash items previously included in net income and changes in working capital.

Cash flow from Operating Activities

Net income                                                     $22,000

Add Depreciation Expense                            $10,800

Less gain on the sale of equipment was         ($500)

Decrease in Inventory                                      $7,800

Decrease in Accounts Payable                     ($8,400)

Increase in Accounts Receivable                 ($6,900)

net cash provided operating activities        $24,800                                                        

Therefore

The net cash provided (used) by operating activities is $24,800

4 0
2 years ago
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