Let understand that the organized table are intended to calculate missing numbers on Income Statement for the two companies are drawn below.
- Here, we are calculating missing columns for Monty Corp. and Whispering Winds Corp.
- Also understand that the bold numbers are the columns calculated according to the question.
Particulars Monty Corp. Whispering Winds Corp.
Sales revenue $90,000 $111,000
Sales return and allowance <u>$6,000</u><u> </u> <u>$5,000</u>
Net sales $84,000 $106,000
Cost of goods sold <u>$53,760 </u> <u>$65,720</u><u> </u>
Gross profit $30,240 $40,280
Operating expenses <u>$15,120 </u> <u>$19,080 </u>
Net income <u>$15,120</u><u> </u> <u>$21,200</u>
In conclusion, the formulae used to derived the bolded answers are:
- Sales revenue - Net sales = Sales returns and allowance
- Net sales - Cost of goods sold = Gross profit
- Gross profit - Operating expenses = Net income
- Net sales + Sales return and allowance = Sales revenue
- Net sales - Gross profit = Cost of goods sold
- Gross profit - Net income = Operating expenses
See similar solution here
<em>brainly.com/question/15062414</em>
Answer:
Purchase farms
Explanation:
The Farm Security Administration (FSA) was a New Deal agency created in 1937 to combat rural poverty during the Great Depression in the United States.
The FSA stressed "rural rehabilitation" efforts to improve the lifestyle of very poor landowning farmers, and a program to purchase submarginal land owned by poor farmers and resettle them in group farms on land more suitable for efficient farming.
The FSA resettled poor farmers on more productive land, promoted soil conservation, provided emergency relief and loaned money to help fanners buy and improve farms. It built experimental rural communities, suburban "Greenbelt towns" and sanitary camps for migrant farmworkers.
Answer:
the inventory to be purchased next month is $123,000
Explanation:
The computation of the inventory to be purchased next month is shown below:
= Cost of goods sold + closing inventory - opening inventory
= $125,000 + $6,000 - $8,000
= $123,000
hence, the inventory to be purchased next month is $123,000
We simply applied the above formula so that the purchase value of the inventory could come
Answer:
$312.5 million
Explanation:
Given that,
Besnier Company's sales last year = $250 million
Fixed assets last year = $75 million
Previous operating capacity of fixed assets = 80%
Sales at full capacity:
= Previous sales ÷ Previous Capacity
= $250 million ÷ 80%
= $312.5 million
Therefore, if the company had operated at full capacity then the sales could have been $312.5 million.
