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Troyanec [42]
3 years ago
15

Slotnick Chemical received $230,000 from customers as deposits on returnable containers during 2018. Ten percent of the containe

rs were not returned. The deposits are based on the container cost marked up 10%. How much profit did Slotnick realize on the forfeited deposits?
Business
1 answer:
sesenic [268]3 years ago
7 0

Answer:

$20,909.09

Explanation:

We have been given that Slotnick Chemical received $230,000 from customers as deposits on returnable containers during 2018. 10% of the containers were not returned. The deposits are based on the container cost marked up 10%.

The price after mark-up would be 100\%+10\%=110\%

To find the profit on the forfeited deposits, we will divide $230,000 times 10% by 110% as:

\text{Profit on the forfeited deposits}=\frac{\$230,000\times 10\%}{110\%}

\text{Profit on the forfeited deposits}=\frac{\$230,000}{11}

\text{Profit on the forfeited deposits}=\$20,909.0909

\text{Profit on the forfeited deposits}\approx \$20,909.09

Therefore, Slotnick realize a profit of $20,909.09 on the forfeited deposits.

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The category that does not belong to the periodic evaluation is Change Analysis.

Option D is the correct answer.

<h3>What is a periodic evaluation?</h3>

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2 years ago
In the long​ run, a perfectly competitive market will A.supply whatever amount consumers demand at a price determined by the min
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Correct Option: A.supply whatever amount consumers demand at a price determined by the minimum point on the typical​ firm's average total cost curve.

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A property has a monthly net income of $1800, and an appraiser believes a 9 percent rate of return is appropriate for the proper
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Answer:

estimated value =  $240000

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Explanation:

given data

net income = $1800

rate of return = 9%

to find out

estimated value

solution

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