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patriot [66]
3 years ago
6

Grayson was employed as a field technician servicing building HVAC systems, but because of a downturn in the economy, he was lai

d off from his job. After unsuccessfully trying to secure another field tech position, Grayson finally took a job as a stock employee at Home Depot. Which of the following best describes Grayson's situation?A. Grayson is underemployed.
B. Grayson is seasonally unemployed.
C. Grayson has downsized.
D. Grayson has secured job enrichment.
Business
1 answer:
Bumek [7]3 years ago
6 0

The statement <u>A. Grayson is underemployed</u> best describes the Grayson's situation.

<u>Explanation</u>:

A person is said to be underemployed if he works for low wage or works for the job that does not make use of his skills.

Underemployment occurs due to excess of labor availability in-spite of work demand. The technological change may also cause underemployment. Underemployment causes due to decline in the economy.

In the above scenario, Grayson was underemployed due to downturn in the economy. He previously worked as a field technician but he was laid off due to decline in economy. Later he was appointed as stock employee at Home Depot.

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Bob's Clothing Shop's inventory at cost was $30,000 on January 1. Its retail value is $42,000. During the year, Bob's Clothing S
DENIUS [597]

Answer:

Ending Inventory = $55,000

Explanation:

<u>Particular                                     Cost price        Retail price </u>

Opening Inventory                       $30,000       $42,000

<u>Add: Additional Purchases               $196,000       $368,000 </u>

<u>Cost of Goods Available for Sale     $226,000       $410,000 </u>

Cost to Retail Ratio: 55 %  

Less: Net Sales                                                $310,000

Ending Inventory                                $55,000       $100,000

Note:

Cost to Retail Ratio = $226,000 / $410,000

Cost to Retail Ratio = 55% (Approx)

6 0
3 years ago
The following information was taken from Nash Inc.'s trial balances as of December 31, 2018, and December 31, 2019.
Elina [12.6K]

Answer:

1. Calculate the net profit margin and accounts receivable turnover for 2019

Net profit margin = Net income/Net sales

Net profit margin = 36,000/(219000-4000)

Net profit margin = 16.74%

A/R turnover = Sales/Average turnover

A/R turnover = (219000-4000)/((32000+39000)/2)

A/R turnover = 6.06

2. How much does Nash make on each sales dollar?

= 36,000 / (219000-4000)

= 36,000 / 215000

= $0.17

3. How many days does the average receivable take to be paid (assuming all sales arc on account)?

Days Sales Outstanding = Average account receivables*365 / Net credit sales

Days Sales Outstanding = [((32000+39000)/2)*365] / (219000-4000)

Days Sales Outstanding = 12957500/215000

Days Sales Outstanding = 60 days

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implied false advertising is highlighting information that are literally true, but simply imply another message which is false.

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