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sasho [114]
3 years ago
13

Gerald wants to find out the net income of his business for the last quarter. He deducts the cost of goods sold from the revenue

earned during that period and then deducts the operating expenses from the gross profit. If Gerald decides to subtract the salary of his employees from the operating expenses before deducting the operating expenses from the gross profit, which expenses would he be deducting?
Business
1 answer:
alina1380 [7]3 years ago
8 0

Answer:

Administrative expense is the expense Gerald is deducting.

Explanation:

Administrative expense is a kind of general expense that cannot be tied to any job or task in the firm. Unlike operating expense that is more specific and related to activities that generated the gross profit. An example of administrative expense is salaries of secretaries.

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How can a person become a dentist​
Shtirlitz [24]

Explanation:

It generally takes eight years to become a dentist: four years to earn a bachelor's degree as an undergraduate and four years to earn a DDS or DMD in dental school. If you're interested in specializing, you'll also need to complete a dental residency (more on that below).

brainliest please

8 0
2 years ago
Sol purchased land as an investment on February 12, 2018 for $85,000. On January 31, 2019, Sol sold the land for $90,000 cash. W
photoshop1234 [79]

Answer:

c)Short term capital gain.

Explanation:

Since in the question it is mentioned that the land is purchased by Sol as on Feb 12,2018 for $85,000 and the land was sold by Sol as on Jan 31, 2019 for $90,000 in cash

So as we can see the difference in the purchase date and sale date would be less than one year and the transactions related to the capital assets would be termed as capital gain

Since it is less than one year so it is a short term capital gain

Hence, the correct option is c.

7 0
3 years ago
Nutech Corp. is expecting the following cash flows—$79,000, $112,000, $164,000, $84,000, and $242,000—over the next five years.
Alja [10]

Answer:

$429,560

Explanation:

Present value will be calculated through the PV formula,

PV = \frac{C1}{1+r}  + \frac{C2}{(1+r)^{2} } + \frac{C3}{(1+r)^{3}} + \frac{C4}{(1+r)^{4}} + \frac{C5}{(1+r)^{5}}

r = 15%

C1 = $79,000 ,C2 = $112,000 ,C3 = $164,000 ,C4 = $84,000 ,C5 = $242,000

Substituting the values in the formula,

PV = \frac{79,000}{1.15}  + \frac{112,000}{(1.15)^{2} } + \frac{164,000}{(1.15)^{3}} + \frac{84,000}{(1.15)^{4}} + \frac{242,000}{(1.15)^{5}}

PV = 68,695.66 + 84,688 + 107,838 + 48,030.2 + 120,338.14

PV = $429,560

The present value of the cash flows of Nutech Corp. over the next five years is $429,560.

8 0
3 years ago
A corporation has the following account balances: Common Stock, $1 par value, $80,000; Paid-in Capital in Excess of Par Value, $
Nitella [24]

Answer:

b. number of shares issued is 80,000

Explanation:

In the question, the common stock par value and the total amount is given. Moreover, paid-in capital is also given.

So, if we compute it, then it gives the number of shares issued because it contains a formula which is shown below:

Number of shares issued = (Common stock ÷ Par value)

= ($80,000 ÷ $1)

= 80,000 shares

So, paid-in capital is not relevant in the computation part, and therefore, the other options are wrong except b. option.

7 0
3 years ago
An incomplete cost of goods manufactured schedule is presented below.
svlad2 [7]

Completing the Cost of Goods Manufactured Schedule for Riverbed Company is as follows:

<h3>Cost of Goods Manufactured Schedule</h3>

Work in process (1/1)                             $222,600

Direct materials:

Raw materials inventory (1/1)                 $ 47,300

Add: Raw materials purchases              168,000

Total raw materials available for use $215,300

Less: Raw materials inventory (12/31)     24,500

Direct materials used                          $190,800

Direct labor                                          $114,500

Manufacturing overhead:

Indirect labor                 19,600

Factory depreciation   37,900

Factory utilities             72,600

Total overhead                                       130,100

Total manufacturing cost                  $658,000

Total cost of work in process           $658,000

Less: Work in process (12/31)                85,600

Cost of goods manufactured            $572,400

<h3>What is the Schedule of Cost of Goods Manufactured?</h3>

The Schedule of Cost of Goods Manufactured shows the costs of:

  • Beginning Work in Process
  • Raw materials used
  • Direct labor
  • Overhead
  • Less Ending Work in Process.

Thus, the Schedule of Cost of Goods Manufactured for Riverbed Company shows that the cost of goods manufactured for the period is <u>$572,400</u>.

Learn more about preparing the Schedule of Cost of Goods Manufactured at brainly.com/question/24257342

#SPJ1

6 0
2 years ago
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