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3 years ago

A wool suit, discounted by 60 % for a clearance sale, has a price tag of $ 620. What was the suit's original price?

Business

1 answer:

never [62]3 years ago

6 0

Answer:

$1,550

Explanation:

Given that

Price tag = $620

Discount percentage = 60%

By taking the information,

The computation of the suit original price equal to

= Price tag ÷ (1 - discount percentage)

= $620 ÷ (1 - 0.60)

= $620 ÷ 0.40

= $1,550

Therefore, the suit original price is $1,550 after considering the discount percentage and the price tag.

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The budget director for Kanosh Cleaning Services prepared the following list of expected selling and administrative expenses. Al

Harrizon [31]

Answer:

Kanosh Cleaning Services

a. Schedule of Cash Payments for S&A Expenses

October November December

Equipment lease expense $7,500 $7,500 $7,500

Prior month’s salary expense, 100% 0 8,200 8,700

Cleaning supplies 2,800 2,730 3,066

Insurance premium 7,200 0 0

Depreciation on computer 0 0 0

Rent 1,700 1,700 1,700

Miscellaneous expenses 700 700 700

Total disbursements for operating expenses $19,900 $20,830 $21,666

b. Salaries payable = $9,000

c. Prepaid insurance = $3,600

Explanation:

a) Data and Calculations:

October November December

Budgeted S&A Expenses

Equipment lease expense $7,500 $7,500 $7,500

Salary expense 8,200 8,700 9,000

Cleaning supplies 2,800 2,730 3,066

Insurance expense 1,200 1,200 1,200

Depreciation on computer 1,800 1,800 1,800

Rent 1,700 1,700 1,700

Miscellaneous expenses 700 700 700

Total operating expenses $23,900 $24,330 $24,966

Schedule of Cash Payments for S&A Expenses

October November December

Equipment lease expense $7,500 $7,500 $7,500

Prior month’s salary expense, 100% 0 8,200 8,700

Cleaning supplies 2,800 2,730 3,066

Insurance premium 7,200 0 0

Depreciation on computer 0 0 0

Rent 1,700 1,700 1,700

Miscellaneous expenses 700 700 700

Total disbursements for operating expenses $19,900 $20,830 $21,666

b. Salaries payable = $9,000

c. Prepaid insurance = $3,600 ($7,200 - $3,600)

6 0

3 years ago

The difference between the small business owner and the entrepreneur is that the entrepreneur:A. manages the businessB. files ta

Oksanka [162]

Answer:

E. is accurately described by all of the above

Explanation:

The main difference is that the entrepreneurs took at the big picture and are more ideal, innovative and risk-takers and focuses more on the startups and growth and spread of business and attempts to make profits

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3 years ago

Occurs when people give up something in order to receive something that they would rather have?

kap26 [50]

That would probably be trade. :)

3 0

3 years ago

The 2021 income statement of Adrian Express reports sales of $20,710,000, cost of goods sold of $12,600,000, and net income of $

Verizon [17]

Answer:

Adrian Express

1. Five Profitability Ratios:

Gross profit ratio: = 39.2%

Return on assets = 20%

Profit margin = 9.6%

Asset turnover = 2.1 times

Return on equity = 37.4%

2. I think the company is:

Less profitable

than the industry average.

Explanation:

a) Data and Calculations:

Sales Revenue $20,710,000

Cost of goods sold $12,600,000

Gross profit $8,110,000

Net income $1,980,000

ADRIAN EXPRESS

Balance Sheets

December 31, 2021 and 2020

2021 2020

Assets

Current assets:

Cash $840,000 $930,000

Accounts receivable 1,775,000 1,205,000

Inventory 2,245,000 1,675,000

Current assets $4,860,000 $3,810,000

Long-term assets 5,040,000 4,410,000

Total assets $ 9,900,000 $8,220,000

Liabilities and Stockholders' Equity

Current liabilities $ 2,074,000 $1,844,000

Long-term liabilities 2,526,000 2,584,000

Common stock 2,075,000 2,005,000

Retained earnings 3,225,000 1,787,000

Total Equity 5,300,000 3,792,000

Total liabilities & stockholders' equity $9,900,000 $8,220,000

Industry averages for the following profitability ratios are as follows:

Gross profit ratio 45 %

Return on assets 25 %

Profit margin 15 %

Asset turnover 8.5 times

Return on equity 35 %

Gross profit ratio: = Gross profit/Sales * 100

= $8,110,000/$20,710,000 * 100

= 39.2%

Return on assets = Net income/Assets * 100

= $1,980,000/$9,900,000 * 100

= 20%

Profit margin = Net Income/Sales * 100

= $1,980,000/$20,710,000 * 100

= 9.6%

Asset turnover = Sales/Total Assets

= $20,710,000/$9,900,000 = 2.1 times

Return on equity = Net Income/Total Equity * 100

= $1,980,000/$5,300,000 * 100

= 37.4%

6 0

3 years ago

Consider how health insurance affects the quantity of health care services performed. Suppose that the typical medical procedure

IrinaK [193]

Answer:

hello your question has some missing part attached below is the missing demand curve

Answer :

1) the quantity of health procedures Individuals will demand is greater than the optimal quantity ( 20 procedures )

2) quantity of medical procedure

3) $200

Explanation:

1) Based on the given demand and supply, the given transportation problem is the quantity of health procedures Individuals will demand is greater than the optimal quantity ( 20 procedures )

2) A dummy quantity of medical procedure should be introduced

3) Total cost of optimal solution

optimal quantity of medical procedure ( Qd) * price of medical procedure(Qp)

= 20 * 100

= $200

4 0

3 years ago

A wool​ suit, discounted by 60 % for a clearance​ sale, has a price tag of $ 620. What was the​ suit's original​ price?

A wool suit, discounted by 60 % for a clearance sale, has a price tag of $ 620. What was the suit's original price?