All categories

3 years ago

Describe the difference between cost of goods and operating expenses.

1 answer:

8 0

Both operating expenses and cost of goods sold (COGS) are expenditures that companies incur with running their business. However, the expenses are segregated on the income statement. Operating expenses and COGS measure different ways in which resources are spent in the process of running a company.

You might be interested in

You have an outstanding balance on your credit card of $10,000. You can pay off the balance if you make 36 monthly payments of $

iVinArrow [24]

Answer:

Our answer is attached below

Explanation:

7 0

3 years ago

The Appliance Depot realizes that many of its customers purchase several appliances at one time and may not have immediate cash

photoshop1234 [79]

Answer:

<u>Financing </u>

Explanation:

Financing refers to usage of money and funds to finance the marketing agencies and promotions, in addition to financing the movement of goods through different channels of distribution.

Retailers usually use credit schemes to induce customers such as, payment in installments with zero interest payments. Such schemes enhance sales and also build consumer trust.

In the given case, Appliance Depot offers credit services whereby customers are granted convenient payment terms such as no down payment and interest free installments. This represents the marketing function of financing wherein the retailer facilitates financing customer's purchase via such credit schemes.

5 0

3 years ago

Assume that Simple Co. had credit sales of $250,000 and cost of goods sold of $150,000 for the period. It estimates that 1 perce

Dahasolnce [82]

Answer:

A. Debit: Bad Debt Expense 2,500

Credit: Allowance for Doubtful Accounts 2,500

250,000 x .01 = 2,500

B. Debit: Bad Debt Expense 2,750

Credit: Allowance for Doubtful Accounts 2,750

3,000 - 250 = 2,750

8 0

3 years ago

Payne, Inc., a nonpublicly traded company, implemented a defined benefit pension plan for its employees on January 2, year 2. Th

Dovator [93]

Answer:

b. $25,000

Explanation:

For computing the pension liability amount, we need to do apply the formula which is shown below:

= Projected benefit obligation - Fair value of plan assets

= $103,000 - $78,000

= $25,000

The net periodic pension cost and the employer's contribution is not relevant. So, these items are ignored and hence not included in the computation part.

The excess amount is shown as a pension liability.

7 0

3 years ago

Summarize and contrast how work-based learning benefits the following groups: students, employers, and schools

Misha Larkins [42]

Students learn about how different work places work,and about what sort of work they might enjoy. employers get to "preview" people who might make good workers when they leave school. Schools learn what workplaces are needing from students and can adjust their their curricula to be more relevant.<span />

3 0

3 years ago