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3 years ago

What is gross profit

2 answers:

6 0

Gross profit is net sales minus the cost of goods sold. It reveals the amount that a business earns from the sale of its goods and services before the application of additional selling and administrative expenses.

kherson [118]3 years ago

3 0

Gross profit is the profit a company makes after deducting the costs associated with making and selling its products.You can calculate the gross profit by subtracting the cost of goods sold (COGS) from the revenue. This measure can be used to check how efficiently you produce revenue.

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, is putting together this year's financial statements. He has gathered the following balance sheet information: The firm had a

sergiy2304 [10]

Answer:

Blossom Automotive have long-term debt of $174,321.

Explanation:

This can be estimated using the following accounting equation:

Total Assets = Shareholders' equity + Total liabilities ............... (1)

Where;

Total Assets = cash balance + inventory + goodwill and other assets + net plant and equipment + accounts receivable + other current assets = $23,015 + $214,500 + $78,656 + $714,100 + $141,258 + $11,223 = $1,182,752

Shareholders' equity = common stock + retained earnings = $311,900 + $512,159 = $824,059

Short-term liabilities = accounts payable + short-term notes payable = $163,257 + $21,115 = $184,372

Total liabilities = Short-term liabilities + long-term debt = $184,372 + long-term debt

Substituting the relevant values into equation (1) and solve for long-term debt, we have:

$1,182,752 = $824,059 + $184,372 + long-term debt

long-term debt = $1,182,752 - $824,059 - $184,372

long-term debt = $174,321

Therefore, Blossom Automotive have long-term debt of $174,321.

7 0

3 years ago

How did the conflicts between labor unions and business capital evolve during the gilded age? be sure to address strikes, the ev

slavikrds [6]

The industry's progress was confronted with a tough attitude of trade unions which had taken strength after the war.
The strategy adopted was the struggle for wage increases and the conservation of a monopoly power, which in many cases affected the introduction of technical improvements.
At that time, international sectoral trade unions and multinational corporations negotiate international framework agreements that allowed for Labour advancement.
It should also be noted that from the creation of the International Workers Association (IWA), the First World Trade union centre of the working class, the right to strike is recognised as one of the fundamental rights of the individual.Since then, representatives of workers from different countries jointly deal with the social problems that concerned them.

6 0

3 years ago

One way of shooting a bow is the bowsight aiming method. this method:

anyanavicka [17]

the key to bowsight is to practice judging distance accurately. The shooter can keep both the eyes open while aiming. Its more versatile and takes longer time to become perfect.

8 0

3 years ago

Hammes Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and

Sergio039 [100]

Answer:

c. $191 Favorable

Explanation:

Flexible budget Planning budget Activity variance

Units produced 5,510 units 5,500 units

Revenue $237,481 $237,050

Total Expenses ($207,340) ($207,100)

Net Operating Income $30,141 $29,950 $191 F

Workings

Flexible budget revenue = 5,510 units*$43.10 = $237,481

Planning budget revenue = 5,500 units*$43.10 = $237,050

Flexible budget expenses = $75,100 + $24*5510 = $207,340

Planning budget expenses = $75,100 + $24*5500 = $207,100

4 0

3 years ago

Harmony Company sells handminusknit scarves. Each scarf sells for $ 45. The company pays $ 70 to rent vending space for one day.

choli [55]

Answer:

2.12, rounded up to 3

Explanation:

To solve the equation, we first need to set up an equation.

Let x represent the number of scarves. We want one side of the equation to be the amount earned and the other to be the cost

45x is how much they earn since each scarf is $45

70+12x is how much they cost for rent and production

45x=70+12x

Subtract 12x from both sides

33x=70

Divide both sides by 33

x=2.12

It says we should round up so 3 scarves to break even

5 0

3 years ago