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irinina [24]
3 years ago
5

Using the following information, what is the amount of gross profit?​

Business
1 answer:
SIZIF [17.4K]3 years ago
3 0

Answer:

Gross profit= $54,700

Explanation:

Giving the following information:

Purchases $37,000

Merchandise inventory, September 1 6,100

Merchandise inventory, September 30 6,800

Sales 91,000

<u>First, we need to calculate the cost of goods sold:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 6,100 + 37,000 - 6,800

COGS= $36,300

<u>Now, the gross profit:</u>

Gross profit= sales - COGS

Gross profit= 91,000 - 36,300

Gross profit= $54,700

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The marginal cost of the second item is $0
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Gaw Company owns 15% of the common stock of Trace Corporation and used the fair-value method to account for this investment. Tra
Marizza181 [45]

Answer:

It is $9,000 (B)

Explanation:

Total paid dividends paid = $60,000

Return on Investment = $60,000 *15%

                                    =$9,000.

Gaw Company investment in Trace Corporation will be treated as Investment Assets. In its book ,it can only recognize its share of dividend paid as return on investment.

Gaw Company cannot recognize its share of entire net income of Trace because it doesn't have controlling interest (i.e subsidiary) in the company neither does it have significant influence (i.e associate).

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3 years ago
Given the following information, calculate the debt coverage ratio of this commercial loan:
pishuonlain [190]

Answer:

1.50

Explanation:

The debt coverage ratio shows the extent to which the property is generating income in a bid to pay its debt service charge, it is computed using the below DSCR formula

DSCR= net operating income (NOI)/Debt service

net operating income (NOI)=$150,000

Debt service=interest expense or finance charge in the year=$100,000

DSCR=$150,000/$100,000

DSCR=1.50

The property in question is generating income that  is 1.5 times its debt servce yearly

3 0
2 years ago
Popular weight management organizations, such as Jenny Craig, Overeaters Anonymous, TOPS, and Weight Watchers all ______. Multip
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Popular weight management organizations, such as Jenny Craig, Overeaters Anonymous, TOPS, and Weight Watchers all: A. include education and weekly support.

A good body composition can be defined as a physical state in which an individual has a well-balanced proportion of body fat and non-fat constituents (mass)

This ultimately implies that, the individual's body fat is in a lesser percentage while the non-fat mass such as organs, bones, muscle, etc., are in a higher percentage.

Generally, you can can develop a good body composition by performing the following:

  • Exercising regularly and properly.
  • Eating a well-balanced diet.
  • Regularly checking your body mass index (BMI).

Additionally, you should endeavor to read the education and weekly support provided by popular weight management organizations, such as Jenny Craig, Overeaters Anonymous, TOPS, and Weight Watchers.

Read more: brainly.com/question/25296988

8 0
2 years ago
The primary advantage to using accelerated rather than straight-line depreciation is that with accelerated depreciation the pres
MrRa [10]

Answer:

A. True

Explanation:

Depreciation refers to a fall in the value of an asset due to normal wear and tear, technological obsolescence or efflux of time. There are different ways of charging depreciation such as straight line method, diminishing balance method, double decline or accelerated depreciation method.

Under straight line method, a fixed amount of depreciation is charged every year with total depreciation evenly spread over the life of the asset.

Under accelerated depreciation method, the depreciation is charged at twice the rate of straight line rate of depreciation, which means depreciation would be the most in the first year and would be the least in the final year of asset life.

As we know, present value of depreciation would be most in the first year and least in the last year of asset life, it means the tax saving, which is tax percentage of the depreciation amount, would be most in the first year.

Due to this, the present value of total tax saving provided by depreciation, would be more under the accelerated method than straight line method, keeping other factors constant.

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