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Sever21 [200]
3 years ago
14

Assume the following cost of goods sold data for a company: 2017: $1,700,000 2016: 1,400,000 2015: 1,200,000 2014: 1,000,000 If

2015 is the base year, the percentage increase in cost of goods sold from 2015 to 2017 is closest to Select one: a. 25% b. 71% c. 21% d. 42% e. 29%
Business
1 answer:
WITCHER [35]3 years ago
3 0

Answer:

d. 42%  

Explanation:

The percentage increase in cost of goods sold is calculated as:

⇒ <u>Current Year</u> - 1

     Base Year

,⇒ <u>1,700,000</u> - 1

     1,200,000

⇒ 41.66% or 42%.

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Which special advertising category has the objective of increasing visibility and increasing store traffic
TEA [102]
Bruh what is you talking bout I ain’t never seen to pretty best
5 0
2 years ago
Lucky started a new business last year. Since it was the first year of operation, the business purchased $10,000 in machinery an
gulaghasi [49]

Answer:

True

Explanation:

The reason is that the Internation Financial Reporting Framework says that though there are choices the company must opt to the depreciation method that brings fairness to the financial statement, which means that the method used calculates the depreciation for the year that actually represents the decrease in the value of the assets in market value. So if the current method brings the fairness to the Financial statements, Lucky can use them and if those don't bring fairness to the financial statements then its better to use alternative which will bring the fairness to financial statements.

4 0
3 years ago
The information necessary for preparing the 2018 year-end adjusting entries for Winter Storage appears below. Winter's fiscal ye
natima [27]

Answer:

Adjusting entries are entries that indicate the events of the company that have occurred but not yet recorded by the company.

a. DATE          DESCRIPTION                    DEBIT        CREDIT

Dec 31         Depreciation Expenses        $7,000

2018            Accumulated Expenses                             $7,000

                 (Record depreciation on equipment )

b. DATE          DESCRIPTION                    DEBIT        CREDIT

Dec 31         Salary expenses                   $3,400

2018             Salary payable                                          $3,400

             (Record salary incurred but not paid)

c. DATE          DESCRIPTION                    DEBIT        CREDIT

Dec 31            Interest receivables            $660

2018               (12,000 * 6% * 11/12)

                      Interest revenue                                         $660

                     (Record of interest earned)

d. DATE          DESCRIPTION                    DEBIT        CREDIT

Dec 31           Insurance Expenses             $11,250

2018              (15,000 * 9/12)

                     Prepaid Insurance                                   $11,250

                     (Record payment of insurance expenses)

e. DATE          DESCRIPTION                    DEBIT        CREDIT

Dec 31.           Supplies Expenses               $1,500

2018               Supplies                                                   $1,500

                      (Record of supplies)

f. DATE          DESCRIPTION                    DEBIT        CREDIT

Dec 31,          Deferred revenue               $1,400

2018              (4,200 * 2 month / 6 month)

                     Service revenue                                     $1,400

                    (Record advance payment for services provided)

g. DATE          DESCRIPTION                    DEBIT        CREDIT

Dec 31,           Advertisement Expenses    $1,000

2018               Prepaid Advertisement                          $1,000

                     (Record payment for advertisement)

3 0
2 years ago
gary and felix are partners of a general partnership. gary does two-thirds of the partnership work, while felix does one-third o
zhuklara [117]

Under partnership Felix is entitled to receive $100,000. 1/3 × 300000 = $100000

In a partnership, parties who are referred to as business partners agree to work together to further their shared objectives. Individuals, companies, interest-based organisations, schools, governments, or combinations of these may be the partners in a partnership.

All partners in a general partnership are equally liable financially and legally. The debts that the partnership incurs are personally liable to the individuals. Equal shares are also given to profits. In a partnership agreement, the mechanics of profit sharing will almost definitely be spelled out in writing.

Organizations may work together to expand their reach and increase the likelihood that each will succeed in reaching their goals. A partnership may solely be controlled by a contract, or it may issue and hold stock.

Learn more about partnership here:

brainly.com/question/9909227

#SPJ4

5 0
11 months ago
Suppose Natasha currently makes $50,000 per year working as a manager at a cable TV company. She then develops two possible entr
Vilka [71]

Answer:

It will be better to pursue the soap business as it provide a 20,000 economic gain.

Explanation:

currently Natasha wages: $50,000

soap business:

sales revenue 465,000 - cost = 395,000 = 70,000 accounting profit

less 50,000 opportunity cost: 20,000 economic gain

Internet opportunity as it will compete with the local TV company shw currently works, most probably will be fired or quit the job.

3,275,000 revenues - 3,250,000 cost = 25,000 accounting profit

less 50,000 opportunity cost: (25,000) economic loss

It will be better to pursue the soap business as it provide a 20,000 economic gain.

4 0
3 years ago
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