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dusya [7]
3 years ago
13

In the multiple-step income statement, cost of merchandise sold is subtracted from a.selling expenses. b.sales. c.gross profit.

d.operating expenses.
Business
1 answer:
zalisa [80]3 years ago
3 0

Answer:

b.sales

Explanation:

As we know that

Income statement refers to the statement in which the revenues and the expenses incurred should be recorded

While on the other hand the multiple-step income statement refer to the statement in which there are various level like gross profit, total operating expenses etc

Plus we also know that

Gross profit = Sales - cost of goods sold

Therefore the cost of merchandise should be deducted from sales so that we can find out the gross profit

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Lucia's bank offers a savings account with a 1.9% APR, compounded monthly. What is the actual percentage yield on this account?
alexira [117]
I've taken this quiz, 1.92% is the right answer.
5 0
3 years ago
Read 2 more answers
Lancashire Railway Company (LRC) has two divisions, L and H. Division L is the company’s low-risk division and would have a weig
Aleks [24]

Answer:

Lancashire Railway Company (LRC)

Lancashire Railway Company (LRC) should reject the project.  The basis for rejecting Division H's project is that its return (12%) is less than the risk-based cost of capital for the division (14%).

Explanation:

a) Data:

Division L's weighted-average cost of capital = 8%

Division H's weighted-average cost of capital = 14%

Weight of Division L = 50%

Weight of Division H = 50%

Company composite weighted average cost of capital = 11% (8% * 50%) + (14% * 50%)

Expected return from a proposed project for Division H = 12%

4 0
2 years ago
Aggie Fitness began business in College Station, TX on June 1, 2018. At that time, the company collected $6,000 in advance payme
REY [17]

Answer:

b. $2,500, $3,500

Explanation:

Amount collected in advance will be recognized as a liability until the revenue is earned. Entries are posted between the cash account and deferred revenue account on collection of cash.

Given that he company collected $6,000 in advance payments from customers for 12-month gym memberships on June 1, 2018.

Debit Cash account $6,000

Credit Unearned revenue $6,000

After 7 months ( between 1 June and 31 December 2018),

Revenue earned = 7/12 × $6,000 = $3,500

On December 31, 2018,

Debit Unearned revenue          $3,500

Credit Membership  Revenue   $3,500

Balance in unearned revenue accounts = $6,000 - $3,500 = $2,500

Balance in Membership revenue = $3,500

3 0
3 years ago
Parker Corp., which operates on a calendar year, expects to sell 3,000 units in October, and expects sales to increase 10% each
pogonyaev

Answer:

total revenue = is 99300

Explanation:

given data

expects to sell in October = 3,000 units

expects sales to increase  = 10%

Sales price stay constant = $10 per unit

solution

we get revenue hereby the sum of revenue of oct + nov + dec

revenue = price × quantity    .........................1

total revenue = is 99300

8 0
2 years ago
According to the demand-pull theory, inflation is caused by:
Aliun [14]

Answer:

Understanding Demand-Pull Inflation

Demand-pull inflation is a tenet of Keynesian economics that describes the effects of an imbalance in aggregate supply and demand. When the aggregate demand in an economy strongly outweighs the aggregate supply, prices go up. This is the most common cause of inflation.

Explanation:

hope it helps you

6 0
3 years ago
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