Based on the sales revenue that the ice cream manufacturer got and the cost of goods sold, the total gross profit on ice cream sales is $300,000.
<h3>How is the total gross profit calculated?</h3>
This can be found as:
= Sales revenue - Cost of goods sold
Sales revenue:
= 200,000 x 4.70
= $940,000
Cost of goods sold:
= Total production cost / Total units produced x Units sold
= 665,600 / 208,000 x 200,000
= $640,000
Gross profit:
= 940,000 - 640,000
= $300,000
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Bonds have a maturity date, are perpetual, and pay a coupon rate.
Answer:
The correct answer is letter "C": Partnership.
Explanation:
A Partnership is an organization where two or more owners operate a business. They share the profits in proportion to their percentage partnership interest. There are two types of partnerships: <em>General Partnerships</em> (unlimited liability) and <em>Limited partnerships</em> (liability proportional to the percentage contribution of the partnership).
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Answer:
$46,525
Explanation:
Formula for ending retained earnings is as follows;
<em>Ending retained earnings = Beginning retained earnings + Net income - cash dividend</em>
Beg. RE = 44,800
Net income = 7,800
Cash dividends = 6,075
Plug in the values to the above formula;
Ending retained earnings = 44,800 + 7,800 - 6.075
Ending RE balance would be = $46,525
