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3 years ago

9

Cushman Company had $846,000 in sales, sales discounts of $12,690, sales returns and allowances of $19,035, cost of goods sold o

f $401,850, and $291,025 in operating expenses. Gross profit equals:

1 answer:

Inessa [10]3 years ago

5 0

Answer:

Explanation:

I'm pretty sure that gross profit is simply just sales-Cost of goods sold

846,000-401,850= 444,150

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Each business day, on average, a firm writes checks totaling $17000 to pay its suppliers. The usual clearing time for the checks

BaLLatris [955]

Answer:

The disbursement float is $ 68,000, collection float is -$44,000 and net float is $24,000.

Explanation:

DISBURSEMENT FLOAT -

Formula that can be used to calculate the disbursement float is =

Amount of average monthly check written X Average number of days it

takes to clear check

Where, amount of average monthly check = $17,000

and average number of days for it to be cleared = 4 days

Disbursement float = $17,000 x 4

= $68,000

COLLECTION FLOAT -

Formula that can be used to calculate the collection float is =

Amount of average monthly check received X Average number of days it

takes to clear check

Where, amount of average monthly check =-$22,000

and average number of days for it to be cleared = 2 days

Collection float = -$22,000 x 2

= -$44,000

NET FLOAT -

Formula that can be used to calculate the NET float is =

DISBURSEMENT FLOAT - COLLECTION FLOAT

= $68,000 - $44,000

= $24,000

7 0

3 years ago

A mortgage clause that states that the mortgage is due and payable upon certain conditions, such as non-payment is: Select one:

ivolga24 [154]

A mortgage clause that states that the mortgage is due and payable upon certain conditions, such as the non-payment is the option(d) i.e, the Acceleration clause.

<h3>What is a mortgage clause?</h3>

A provision in an insurance policy (such as a fire insurance policy) that allows the designated mortgage to receive payment for property damage or loss.

There are different types of clauses:

Acceleration clause
Due-On-Sale clause
Prepayment Penalty clause
Subordination clause
Release clause

If the borrower breaches the conditions of the agreement, an acceleration clause in a mortgage or trust deed states that the entire obligation is payable immediately. Additionally, it will specify the circumstances under which a lender may request full loan payback. For instance, home loans frequently feature an acceleration provision that kicks in after a certain number of missed payments.

Most of the time, it is harmful to accelerate a loan. Typically, it denotes that the borrower has fallen behind on payments or broken the terms of the agreement, and the lender is requiring prompt repayment of the whole loan balance to avoid foreclosure.

To know more about mortgage clause refer to: brainly.com/question/13964240

#SPJ4

8 0

2 years ago

From the standpoint of the economy as a whole, the role of insurance is A. to entice risk-loving people to become risk averse. B

Scilla [17]

Answer:

C. not to eliminate the risks inherent in life, but to spread them around more efficiently

Explanation:

Insurance is an agreement where the insurer agrees to cover the losses that might arise if certain events occur to the insured.

Moral hazard and adverse selection are some of the negative issues that arise as a result of insurance.

I hope my answer helps you

3 0

3 years ago

The United States produces computers and sells them to Mexico. At the same time, Mexico produces cars and sells them to the Unit

iren [92.7K]

Answer: B .An increase in imports into the United States and a decrease in exports to Mexico, which will cause a decrease in aggregate demand and real GDP

Explanation: Both the United state and Mexico are involved in international trade between the two countries in this scenario. So if there is a an appreciation in the Dollars there will be increased in importation into the United States, since fewer dollars will be required to import items. This will caused decrease in export to Mexico which will decreased aggregate demand and real GDP.

6 0

3 years ago

Read 2 more answers

Gwinnett County Chrome Company manufactures three chrome-plated products—automobile bumpers,valve covers, and wheels. These prod

Natali5045456 [20]

Answer and Explanation:

1. The computation of Stamping Department and machine hours is shown below:-

Stamping department = Associated Overheads ÷ Total Direct Labor hours

= $120,000 ÷ 1,200

= $100

Plating Department = Associated Overheads ÷ Total Machine hours

= $104,000 ÷ 2,640

= $39.39

2. The computation of product factory overhead costs is shown below:-

Stamping Department = Direct Labor hour × overhead rate

Plating Department = Machine hours × Overhead rate

Particulars Automobile lamps Valve Covers Wheels

Stamping

Department $56,000 $30,000 $34,000

(560 × $100) (300 × $100) (340 × $100)

Plating

Department $117,000 $71,000 $76,000

(1,170 × $100) (710 × $100) (760 × $100)

Total Factory

overhead $173,000 $101,000 $110,0

6 0

3 years ago