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igor_vitrenko [27]
3 years ago
6

The Intramural Sports Club reports sales revenue of $578,000. Inventory at both the beginning and end of the year totals $110,00

0. The inventory turnover ratio for the year is 3.9.
What amount of gross profit does the company report in its income statement?
Business
1 answer:
Genrish500 [490]3 years ago
3 0

Answer:

$363,500

Explanation:

Gross profit = Revenue - Cost of Goods Sold.

In the case

Revenue = $578,000.

The Cost of Goods Sold: COGS

Inventory turn over = COGS/ Average turnover

Average turnover = Opening stock + closing stock/2

In this case Opening stock + Closing stock = $110,000

Average turnover = $110,000 /2 =$55,000

Therefore:

3.9 = COGS/$55,000

COGS = $55,000 x 3.9

COGS =$214,500

Gross profit =  $578,000 - $214,500

Gross profit = $363,500

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patriot [66]

Hi, you've asked an incomplete question. However, the missing question read;

Version 1: George walks away. He never talks to Elaine or Jerry again.

Version 2: George confronts Elaine, saying “I am angry about what you have been saying. I do not want you spreading rumors about me. If you have a problem, please see me about it.”

Version 3: George yells at Elaine to shut u.p and then confronts his boss demanding to know why he’s going to be fired.

Version 4: George demands that Elaine tell him where she heard that. Elaine tells him not to worry about it and tries to crack a joke about how much the boss is late.

Answer:

  • <u>Version 1: non-confrontational</u>
  • <u>Version 2: cooperative</u>
  • <u>Version 3: confrontational</u>
  • <u>Version 4: confrontational and cooperative</u>

Explanation:

1. In this scenario it is evident that George avoids confrontation with Elaine. In fact, we are told that "[He] walks away..."

2. In this scenario, however, we notice a cooperative deposition between George and Elaine. He made this lear when he said, "...If you have a problem, please see me about it.”

3. Confrontation occurs in this scenario as we are told that "George... then confronts his boss demanding to know why he’s going to be fired. "

4.  By demanding "that Elaine tells him where she heard that" indicates confrontation. While Elaine's cracking a joke about how much the boss is late shows cooperation.

4 0
3 years ago
Read 2 more answers
In the ethical decision-making framework, the main difference between identifying the stakeholders and considering how those sta
taurus [48]

The difference between the identification of the stakeholders and the impact of ethical decision-making on the stakeholders is that <u>A. as the firm identifies the </u><u>stakeholders</u>, it must anticipate which ones will be most affected by the decision being made.

<h3>What is ethical decision-making?</h3>

Ethical decision-making involves the evaluation and choice of the best alternatives that are consistent with the organization's ethical principles.

In making ethical decisions, the organization should eliminate unethical options so as to select the best ethical alternatives.

<h3>Answer Options:</h3>

A. as the firm identifies the stakeholders, it must anticipate which ones will be most affected by the decision being made.

B. after a firm identifies the stakeholders affected, it must then consider the future implications of the decision being made.

C. a firm only needs to identify the stakeholders affected if feedback from the monitoring and assessing step indicates there is a need to do so.

D. a firm only needs to consider the impact of the decision if the stakeholders identified indicate there is a need to do so.

E. before a firm identifies the stakeholders affected, it must first consider the future implications of the decision being made.

Hence, <u>Option A.</u> is correct.

Learn more about ethical decision-making at brainly.com/question/5244016

7 0
2 years ago
Countess Corp. is expected to pay an annual dividend of $5.29 on its common stock in one year. The current stock price is $79.83
Nostrana [21]

Answer:

10.03%

Explanation:

Using the dividend discount formula, find the cost of equity; r

r = \frac{D1}{P0} +g

whereby,

D1 = Next year's dividend = 5.29

P0 = Current price of the stock = 79.83

g = growth rate of dividends = 3.40% or 0.034 as a decimal

Next, plug in the numbers to the formula above;

r = \frac{5.29}{79.83} +0.034\\ \\ r =0.06627 + 0.034\\ \\ =0.10027

As a percentage, r = 10.03%

Therefore, the company's cost of equity is 10.03%

7 0
3 years ago
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marusya05 [52]

Answer:

The athlete with equal installments got the better deal.

Explanation:

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In one case, we’re told that the $80 million will be paid in 10 equal installments.

In the other case, the $80 million will be paid in 10 installments, but the installments will increase by 5 percent per year.

The one with equal installments will get $8 million every year.

But the one with increasing installments will get smaller payments initially as his payments were to be increased by 5% each year.

Though the total value of both the annuities will remain the same.

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The three primary aspects of a free market could include private ownership of everything for sale, free-floating forces of supply and demand, and a man secretly in charge of everything. <span>A free market economy is a type of economic system whereby supply and demand, with a minimum of involvement on the part of a government drive the forward movement of the economy.</span>

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