1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zhuklara [117]
3 years ago
14

Baco opens its business in 20x2 and purchases merchandise on account for $88000. In 20x2, baco pays $67000 cash on the $88000 du

e, sales are $145000 and ending inventory is $24000. Baco gross profit for 20x2 is?
Business
1 answer:
FrozenT [24]3 years ago
5 0

Answer:$81,000

Explanation:

Sales is $145,000

Less:

Cost of goods sold is purchases less closing inventory

$88,000 - $24,000

= $64,000

Gross profit = $145,000 - $64,000

= $81,000

You might be interested in
Food handlers must remove all objects on their hands and wrist except
noname [10]
Except for gloves any other object can transfer bacteria.
7 0
3 years ago
Read 2 more answers
Why is the savings account better than a checking’s account for saving money?
Lisa [10]

Because it pays a higher rate of interest.

A savings account is better than a checking account for saving money because they normally pay a higher interest rate than a checking account. Quite often, a checking account will not pay any interest at all.

7 0
3 years ago
What are four positive aspects of franchising for a business start-up? Why are they important ? .
wel
The primary advantages for most companies entering the realm of franchising are capital, speed of growth, motivated management, and risk reduction
3 0
3 years ago
Zoe Corporation has the following information for the month of March: cost of direct materials used in product $15,401,direct la
bija089 [108]

Answers:

Calculation of cost of goods manufactured:

Particulars                                                      Amount(in $)

Cost of direct material                                    $15,401

Add: Direct labour                                           $24,583

Add: Factory overhead                                   $35,335

Add: Work In process inventory, March 1      $20,021

Less: Work in process inventory, March 31   <u>$20,681</u>

Cost of goods manufactured                        <u>$74,659</u>

Calculation of Cost of goods sold:

Particulars                                                      Amount(in $)

Cost of goods manufactured                        $74,659

Add: Finished goods inventory, March 1      $24,889

Less: Finished goods inventory, March 31   <u>$27,311   </u>

Cost of goods sold                                        <u>$72,237</u>

7 0
3 years ago
Sabrina Duncan had gross earnings for the pay period ending 10/15/16 of $5,835. Her total gross earnings as of 9/30/16 were $104
ivann1987 [24]

Answer:

option (A) $212.97

Explanation:

Data provided in the question:

Gross earnings for the pay period ending 10/15/16 = $5,835

Total gross earnings as of 9/30/16 = $104,400

Social Security tax rate = 6.2%

Now,

Total earnings

= Gross earnings for the pay period ending 10/15/16 + Total gross earnings as of 9/30/16

=  $5,835 + $104,400

= $110,235

since,The Social Security taxes are on a maximum earnings of $106,800 per year

therefore,

Sabrina's Social Security withheld from her 10/15/16 paycheck will be

= ( Total earnings - $106,800 ) × Social Security tax rate

= ( $110,235 - $106,800 ) × 0.062

= $3,435 × 0.062

= $212.97

Hence,

The answer is option (A) $212.97

7 0
3 years ago
Other questions:
  • Grason Corporation is preparing a budgeted balance sheet for 2015. The retained earnings balance at December 31, 2014 was $533,5
    10·1 answer
  • Mandy has perfected the art of glass-blowing. She has made gifts for her friends for years and has always gotten rave reviews. S
    7·1 answer
  • Opera Corp. uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:
    14·1 answer
  • Paul borrowed $90 from greg eight months ago. today, paul paid greg back $102.60. what is the simple annual interest rate that p
    7·1 answer
  • Issued common stock to investors for $14,083 cash (example).
    14·1 answer
  • Three critical activities occur during group socialization that affect the productivity of teams, and they are:
    10·1 answer
  • Which of the following sentences apply correct number style?
    9·1 answer
  • 2. Three years ago, Shawheen deposited $5,000 in a savings account. Today, the account is worth
    15·1 answer
  • Can u solve this plsss​
    15·1 answer
  • When the interest rate increases, the opportunity cost of holding money Group of answer choices increases, so the quantity of mo
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!