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Murljashka [212]
3 years ago
10

A company has net sales of $788,500 and cost of goods sold of $569,500. Its net income is $26,280. The company's gross margin

Business
1 answer:
lidiya [134]3 years ago
3 0

Answer:

Gross margin = $219,000

Operating income = $198,720

Explanation:

The computation of gross margin

and operating expenses is shown below:-

Gross margin = Net sales - Cost of goods sold

= $788,500 - $569,500

= $219,000

Net income = Gross margin - Operating expenses

$26,280 = $219,000 - Operating expenses

Operating expenses = $219,000 - $26,280

= $198,720

Therefore the gross margin is $219,000 and operating income is $198,720

We simply applied the above formulas

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A corporation declares $25 million in net income, $1 million in preferred stock dividends, and $7 million in common stock divide
Maksim231197 [3]

Answer:

$17 million

Explanation:

A corporation declares $25 million as it's net income

The preferred stock dividend is $1 million

The common stock dividend is $5 million

Therefore the amount in which the shareholders stock equity will increase can be calculated as follows

= net income - preferred stock dividend-common stock dividend

= $25 million - $1 million +$7million

= $25 million -$8million

= $17 million

4 0
3 years ago
Differentiate among the following.
Natalija [7]
Full Warranty means the coverage meets the federal minimum standards for comprehensive warranties, while "Limited Warranty" means the coverage does not. ... This is an example of a full warranty. It specifies that the customer has a right to a replacement or a refund if repairs are not possible.
5 0
3 years ago
Type the leadership term that best describes each situation. Use each term only once.
sattari [20]

Answer: The correct answers are "Out-group", "Participating style" and "Delegating style".

Explanation:

<u>1. Out-group:</u> you are frustrated at work because you feel that your supervisor only assigns you the mundane tasks and that you receive less support from her than do your teammates.

<u>2. Participating style:</u> you feel that your staff members are interested in assuming more responsibility and are ready to handle it so you start letting them share in more team decisions.

<u>3. Delegating style</u>: because your staff has been working together in their jobs for a long time and have a high degree of motivation, experience, and skill, you let them work pretty independently and try to stay out of their way.

3 0
3 years ago
Which of the following is NOT one of the five basic functions of an
Alex73 [517]

Sales is NOT one of the five basic functions of an  accounting department

<h3>What is accounting department?</h3>

The accounting department is responsible for recording and reporting the cash flows, both in and out, of a company.  It is part of the corporate overhead group of an organization.

An accounting department provides accounting services and manages the finances of a company.

There are five basic roles or functions within the accounting department:

  • Accounts receivable
  • Accounts payable
  • Payroll
  • Financial controls
  • Financial reporting

Therefore, sales is not one of the basic functions of an accounting department.

Learn more about accounting department here : https://brainly.in/question/13651687

4 0
2 years ago
the amount of federal income taxes withheld from an employee's gross pay is recorded as a(n) Opayroll expense Oliability O contr
crimeas [40]

Option c. A current liability is a correct answer. The amount of federal income taxes withheld from an employee's gross pay is recorded as a current liability

Under employment law, employers operate as intermediaries between employees and state and federal agencies. It is the obligation of employers to track and pay taxes, social security, and other payments from employee pay to government agencies.

The company must remit the amount withheld each quarter which means the amounts are owed in the current period. When taxes are paid, the FIT Payable account is debited to balance the transactions.

Option a) is incorrect as no asset is created by the withholding.

Option b) is incorrect as the taxes are not an expense paid by the company.

Option d) is incorrect as the payable operates as a normal liability account.

Learn more about income tax:

brainly.com/question/17075354

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7 0
10 months ago
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