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marysya [2.9K]
3 years ago
7

An artist buys scrap metal from a local steel mill as a raw material for her sculptures. Last​ year, she purchased $7,000 worth

of scrap metal. With the steel she produced 10 authentic sculptures that she sold for $1,000 each to a local art dealer. The art dealer then sold all of the sculptures to art collectors for an average of​$1,200 each.
The total value added of the art dealerart dealer is $__. ​(Enter your response as an​ integer.)
Business
1 answer:
Lyrx [107]3 years ago
8 0

Answer:

$2000

Explanation:

The total value added by the art dealer would equal the amount of profit that the art dealer made off of the sale of all the sculptures created by the artist. Therefore to calculate this we must subtract the amount that the artist sold each sculpture for ($1000) from the amount that the art dealer sold each sculpture for ($1200) and then multiply the remainder by the amount of sculptures (10) like so:

$1200 - $1000 = $200

$200 * 10 = $2000

Therefore the total added value of the art was $2000.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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Wilson foods corporation leased a commercial food processor on september 30, 2018. the five-year finance lease agreement calls f
ella [17]

Answer:

The journal entry to record the lease would be:

                      Debit        Credit

Asset            $3,000,000

   Lease Payable     $3,000,000

                    Debit        Credit

Lease Payable           $195,774

   Cash     $195,774

Explanation:

To prepare the journal entry to record the lease we would have to calculate the present value of lease payments as follows:

present value of lease payments=$195,774*15.32380=$3,000.000

Therefore, the journal entry to record the lease would be:

                      Debit        Credit

Asset            $3,000,000

   Lease Payable     $3,000,000

                    Debit        Credit

Lease Payable           $195,774

   Cash     $195,774

8 0
4 years ago
What are the 6 benefits of a market economy for producers?
muminat
You'll save money and make more money .you'll create and propagate your own brand.you'll familiarize yourself with industry knowledge.you 'll build a network of suppliers.you'll be able to diversify.you'll save money and make even more money...
5 0
3 years ago
At GetHelp Inc., after customer service representatives complete training, their phone calls are monitored to determine if they
Ahat [919]

Answer:

This evaluation best exemplifies a "behavior-level" measure.

Explanation:

Donald Kirkpatrick proposed a Four-level training evaluation model for evaluating the impact of training on employees.

The four levels are; Reaction, Learning, Behavior and Results.

The behavior level of Kirkpatrick's model is the third stage and it comes after employees have undergone learning/training. At this stage, the behavior is measured through monitoring and observation to determine if they are implementing what they have learnt.

This gives some insight into how effective the training was.

Therefore GetHelp Inc. by monitoring the phone calls of their customer service representatives are carrying out a "behavior-level" measure.

6 0
3 years ago
Shades n Hues is a company producing cosmetics. It supplies products to stores and beauty salons and also manages its own retail
Gala2k [10]

By producing their own cosmetics and then selling them, Shades n Hues are engaging in<u> Forward Integration.</u>

<h3 /><h3>What is Forward Integration? </h3>
  • It refers to companies engaging in activities forward in the supply chain.
  • It refers to when producers are also engaged in distributing their products to consumers.

By producing their own products and then either selling to other companies or to the consumer directly, Shades n Hues is engaged in forward integration as they have moved forward in the supply chain.

Find out more on the supply chain at brainly.com/question/25560748.

6 0
2 years ago
Blushing Co. had Total Assets of $105,000, which included Cash of $30,000, Accounts Receivable of $15,000 Merchandise Inventory
madam [21]

The Acid-test ratio of Blushing Co,. is 1.25.

Acid-test ratio is also known as the quick ratio. It is the ratio of a firm's current assets to its current liabilities.  It is a type of liquidity ratio. Liquidity ratio measures the ability of a firm to meet its short term obligation. The higher the acid-test ratio, the higher the liquidity of the firm.

Acid test ratio = (current asset - inventory) / current liabilities

  • Current assets - inventory = $105,000 - $60,000 = $45,000
  • Current liabilities = $60,000
  • Acid-test ratio = $45,000 /  $60,000 = 0.75

A similar question was answered here: brainly.com/question/13972407

4 0
3 years ago
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