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Galina-37 [17]
3 years ago
10

Financial information is presented below: Operating expenses $ 63000 Sales returns and allowances 2000 Sales discounts 5000 Sale

s revenue 156000 Cost of goods sold 104000 The amount of net sales on the income statement would be
Business
1 answer:
Assoli18 [71]3 years ago
8 0

Answer:

$149,000

Explanation:

The computation of the amount of net sales is shown below:

=  Sales revenue - sales return & allowance - sales discount

= $156,000 - $2,000 - $5,000

= $149,000

We simply deduct the two items from the sales revenue so that the net sales revenue could be come and the same would be reported on the income statement

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What is the purpose of AH&LA ?
Kryger [21]
AH & LA was made to focus on the needs of every segment of lodging industry.
5 0
3 years ago
On October 1, 2022, Ivanhoe Company places a new asset into service. The cost of the asset is $87500 with an estimated 5-year li
Dimas [21]

Answer:

$3150

Explanation:

Given:

Cost of the asset purchased = $87500 (on 1st October. 2022)

Salvage value at the end of its useful life = $24500

Useful life estimated = 5 years

Question asked:

What is the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation?

Solution:

<u>As we know:</u>

Straight-Line\ Depreciation\ Expense=\frac{Cost\ - Salvage\ Value}{Useful\ Life\ of\ the\ Asset}

                                                               =\frac{87500-24500}{5} =\frac{63000}{5} =12600

Depreciation expenses per year = $12600

But we have to find depreciation expenses for 2022 for:-

From 1st October, 2022 to 31st December, 2022 = 3 months.

<em><u>Straight-Line Depreciation Expense for Partial Year = </u></em>

<em><u /></em>D\times\frac{N}{12} \\\\ D=Depreciation\ expense\ for\ a\ complete\ year.\\N= Number\ of\ months\ during\ which\ the\ fixed\ asset\ was\ available\ for\ use

Depreciation Expense for 3 months = 12600\times\frac{3}{12} =\frac{37800}{12} =3150

Therefore, the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation is $3150.

                                                             

5 0
3 years ago
Any object or objects that a group of people use to buy and sell goods and services is called: Group of answer choices capital a
Ivan

When people are able to use a certain object or objects to buy and sell goods and services, this is called Money.

<h3>What is money?</h3>

Simply put, money is a medium of exchange that allows people to exchange goods and services such that both parities to a transactions feel they got a fair deal.

This means that money can be anything ranging from hard currency, to other goods and services. For instance, if you used an apple to buy another apple, the first apple is money.

In conclusion, an object that allows people to trade for other goods and services is called Money.

Find out more on the purposes of money at brainly.com/question/3182649

#SPJ1

6 0
1 year ago
initially, only a and b are present, each at 2.00 m. what is the final concentration of a once equilibrium is reached?
nataly862011 [7]
 <span>The "REVERSIBLE" chemical reaction- 
A + B <--> C + D 
Kc = [C][D] / [A][B] = 6.8 
Concentration at the start and after equilibrium- 
[A] = 2.00 M --> (2.00 - X) M 
[B] = 2.00 M --> (2.00 - X) M 
[C] = 0.00 M --> X M 
[D] = 0.00 M --> X M 
6.8 = X^2 / (2.00 - X)^2 
take the square root of both sides- 
2.6077 = X / (2.00 - X) 
5.2154 - 2.6077 X = X 
5.2154 = 3.6077 X 
X = 1.4456 
at equilibrium- 
[A] = 0.55 M 
[B] = 0.55 M 
[C] = 1.45 M 
[D] = 1.45 M</span>
4 0
3 years ago
Profit margin is defined as:
olga_2 [115]

Answer: C net income divided by net sales

Explanation:

Net profit margin is calculated by

dividing the net profits(income) by net sales, or by dividing the net income by

revenue realized over a given time period.

Profit margin is one of the commonly used profitability ratios to gauge the degree to which a company or a business activity makes money. It represents what percentage of sales has turned into profits. Simply put, the percentage figure indicates how many cents of profit the business has generated for each dollar of sale. For instance, if a business reports that it achieved a 35% profit margin during the last quarter, it means that it had a net income of $0.35 for each dollar of sales generated.

3 0
3 years ago
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