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djverab [1.8K]
3 years ago
13

For March, sales revenue is $1,000,000, sales commissions are 5% of sales, the sales manager's salary is $80,000, advertising ex

penses are $65,000, shipping expenses total 1% of sales, and miscellaneous selling expenses are $2,100 plus 1% of sales. Total selling expenses for the month of March are
Business
1 answer:
Nitella [24]3 years ago
3 0

Answer:

$217,100

Explanation:

total selling expenses = sales commission + sales manager's salary + shipping expense + advertising expenses + miscellaneous selling expenses

sales commissions = 50,000

advertising expenses = 65,000

shipping expenses = 10,000

sales manager's salary= 80,000

miscellaneous selling expenses = 10,000 + 2100

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For the just completed year, Hanna Company had net income of $41,500. Balances in the companys current asset and current liabili
mylen [45]

Answer:

$37,500

Explanation:

The computation of the net cash provided or used by operating activities are as follows

Cash flow from operating activities

Net income                          $41,500

Add: depreciation expenses $48,000

Add: Decrease in account receivable ($162,000 - $188,000) $26,000

Less: Increase in inventory ($442,000 - $370,000)  -$72,000

Add: Decrease in prepaid expenses ($11,500 - $14,000)  $2,500

Less: Decrease in account payable ($370,000 - $384,000) -$14,000

Less: Decrease in accrued liabilities ($8,500 - $12,000) -$3,500

Add: Increase in income tax payable ($36,000 - $27,000) $9,000

Cash flow provided by operating activities $37,500

The negative sign indicates the cash outflow and the positive sign indicated the cash inflow

3 0
3 years ago
At the beginning of 2016, Gannon Company received a three-year zero-interest-bearing $1,000 trade note. The market rate for equi
notka56 [123]

Answer:

d. Overstate, understate, understate, zero

Explanation:

The amount of earnings overall is the same. so, in the end, there is n difference in retained earnings.

But, on accrual accounting, the note should not enter the accounting as 1,000 as time value of money exist.

At 2016 the sales revenue should be the present value of 1,000 dollars not the complete 1,000 dollars. Thus, is overstated.

Then, the interest accrued from the note are not recognized. Thus, the first year (2016) recognize revenues that should be matched with 2017 and 2018

Thus, these two subsequent years ended understated.

6 0
3 years ago
Retail companies compete based on:
MatroZZZ [7]

Answer: D. all of the above

Explanation:

6 0
2 years ago
Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years because t
Montano1993 [528]

Answer:

$106.02

Explanation:

Div₀ - Div₉ = 0

Div₁₀ = $10 and then will grow by 6% forever

we must first determine the terminal value for year 9 using the dividend growth model:

P₉ = Div₁₀ / (Re - g) = $10 / (10% - 6%) = $10 / 4% = $250

now we shall discount this to present day value:

P₀ = $250 / (1 + 10%)⁹ = $250 / 2.3579 = $106.02

3 0
3 years ago
A chain of sport shops catering to beginning skiers, headquartered in Aspen, Colorado, plans to conduct a study of how much a be
qwelly [4]

Answer:

Kindly check explanation

Explanation:

Given the data:

140 82 265 168 90 114 172 230 142 86 125 235 212 171 149 156 162 118 139 149 132 105 162 126 216 195 127 161 135 172 220 229 129 87 128 126

175 127 149 126 121 118 172 126

70 - 104

105 - 139

140 - 174

175 - 209

210 - 244

245 - 279

B.) Using a class interval of 30; with lower limit of 80;

Class interval ___frequency __R/frequency

80 - 110 ________ 5 ________ 11.4

111 - 141 ________ 17 ________38.6

142 - 172 _______13 ________29.5

173 - 203 ______ 2 _________0.05

204 - 234 ______5 _________11.4

235 - 265 ______2 _________0.05

From the frequency table above, we can observe that the initial amount a beginner expends on supplies is largely between $111 to $172 ; with 38.6% of the collected samples spending between $111 and $141 and 29.5% spending between $142 and $172.

6 0
3 years ago
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