<span>First we must determine the cost of goods sold during November. For this we use beginning inventory ($368,000) + purchases ($217,500) - ending inventory ($226,750). This gives us a total cost of goods sold for November of $358,750.
Then, we take the net sales ($1,000,000) minus the cost of goods sold ($358,750) which equals our gross profit of $641,250.
Finally we divide gross profit ($641,250) by net sales ($1,000,000) to determine the gross profit rate to be 64.125%</span>
Answer:
Calcium carbonate reacts w/stomach acid according to the following chemical equation.
CaCO3+2HCl(aq)-> CaCl2(aq)+H2O(l)+CO2(g)
Answer:
Promissory agreement and Deed of trust.
Explanation:
In this scenario, Seller Dayne was made aware by the trustee that the lender was wanting to proceed with foreclosure on his property. The type of financial agreement that Seller Dayne have with this lender is a Promissory agreement and Deed of trust.
A promissory agreement can be defined as an evidence of a debt and as such involves the use of a legal financial tool such as a promissory note as a written promise to declare that a party (borrower) would pay another (lender) at a specific period of time.
On the other hand, a deed of trust can be defined as a legal document used by a party (borrower) to pledge his or her property to another party (lender) as guarantee or collateral for the repayment of a loan. The deed of trust is typically made up of three (3) parties; the lender, borrower and a trustee.
Additionally, a foreclosure on a property refers to a legal procedure whereby the property being pledged by a borrower for a debt is sold to pay off the debt as a result of defaulting in payments or terms with respect to a loan.
Answer:
D) $15,000.
Explanation:
190,000 excess of value Building amortized over 10 years: 19,000
70,000 lesser value on Equipment amortized over 5 years: 14,000
We will amortize the building at a rate of 19,000 dollar per year
and we will amortize the equipment at 14,000 per year
the inventory as still is in the company's possesion will also need to be adjsuted
10,000 + 19,000 - 14,000 = 15,000
Answer:
"Fell" "Harder"
Explanation:
When housing prices fell as they did beginning in 2006 following the housing market bubble, most banks and other lenders tightened the requirement for borrowers, making it harder for potential home buyers to obtain mortgages.
