All categories

3 years ago

"Sanchez Company engaged in the following transactions during Year 1:

Business

1 answer:

kupik [55]3 years ago

6 0

Answer:

6,500 ; $2,000

Explanation:

The computation of the gross margin for the year 2 is shown below:

As we know that

Gross margin = Sales - cost of goods sold

= $15,000 - $8,500

= $6,500

Now for retained earning, first we have to find out the net income for both years which are shown below:

For year 1

Sales 8,400

Less: Cost of goods sold ($4,300)

Less: Operating expenses ($3,800)

Net income $300

For year 2

Sales $15,000

Less: Cost of goods sold ($8,500)

Less: Operating expenses ($4,800)

Net income $1,700

So, the retained earnings is

= $300 + $1,700

= $2,000

We simply added the net income for the year 1 and year 2 so that the retained earning could come

You might be interested in

Time Remaining 1 minute 56 seconds00:01:56 Item 1Item 1 Time Remaining 1 minute 56 seconds00:01:56 You Save Bank has a unique ac

Amanda [17]

Answer:

Future value = 16007.81437

Explanation:

we have to compound all the rates for the time period together as the 7,750 as exposed to this rate and their interest generated in one period are taking into consideration for the subsequent period interest calculations.

$7,750 (1.06)^3(1.066)^2(1.073)^6 = FV$

We multiply them and get the future value factor:

$7,750 \times 2.065524435 = FV$

we now can solve for future value:

Future value = 16007.81437

6 0

3 years ago

Is it possible to decrease inflation without causing a recession and its concomitant increase in unemployment? The orthodox answ

NeTakaya

Answer:

The answer is: E) It would not necessarily be considered high elsewhere

Explanation:

Usually the inflation rate in the US and Europe is around 1-3%. In the early 1980's the US inflation rate was above 10% so it was considered huge. But if you consider it against inflation rates in other countries, like Argentina for example, which currently has an annual inflation rate of over 60% then it wasn't that big. During the 1980's many countries suffered from hyperinflation, with monthly inflation rates of over 50%.

So the high inflation rate in the US and Europe wasn't necessarily high for other countries.

5 0

3 years ago

Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respec

vichka [17]

Answer:

b. $290,000

Explanation:

The computation of the cash flows from operating activities to be reported on the statement of cash flows is shown below:

= Net income reported on the income statement + decrease in account receivable

where,

Net income reported = $280,000

And, the decrease in account receivable is $10,000 ($70,000 - $80,000)

So, the cash flow from operating activities

= $280,000 + $10,000

= $290,000

The decrease in account receivable implies that more cash is come so it would be added and the same is shown above

5 0

2 years ago

'seaefcgbjska csag fcbjgwevc' Translate.

Irina18 [472]

Answer:

Hiiiiii

Explanation:

4 0

3 years ago

The best way to approach your career choice is to _____.

Tasya [4]

Waiting is a bad idea because you could lose good opportunities in the time you wait. Choosing the same career as someone you admire might not be what you would best enjoy or succeed in, and the job that earns you the most money isn't necessarily the most enjoyable. The answer is A :)

4 0

2 years ago

Read 2 more answers