15 points and brainliest!!! Please help... Suzanne is an archaeologist working on the uncovered site of an old

If Net Sales at Sassy's Sweet Factory increased from $37,000 to $58,000 and its cost of goods sold increased from $17,000 to

solong [7]

Answer:

The vertical analysis based on net sales would show 45.94% and 74.13% for cost of goods sold.

Explanation:

Vertical Analysis: The vertical analysis does the analysis of the financial statements which is based on the sales value.

In mathematically,

Vertical Analysis = Financial Statement item ÷ sales value × 100

So,

For the cost of good sold. the vertical analysis would be:

For the Latest amount of cost of good sold:

= Latest amount of cost of goods sold ÷ Latest sales value × 100

= $17,000 ÷ $37,000 × 100

= 45.94%

For the updated amount of cost of goods sold:

= updated amount of cost of goods sold ÷ updated sales value × 100

= $43,000 ÷ $58,000 × 100

= 74.13%

Hence, the vertical analysis based on net sales would show 45.94% and 74.13% for the cost of goods sold.

6 0

4 years ago

Expenses are recorded as costs of doing business whether cash was paid or not. True or False

Irina18 [472]

I think it’s true i’m not sure

7 0

3 years ago

Given the following information, calculate the going-in capitalization rate for the following apartment complex. In your calcula

BaLLatris [955]

Answer:

The correct option is b. 1.01%.

Explanation:

This can be calculated as follows:

Potential gross income = Number of apartment units * Monthly rent per unit = 15 * $3,000 = $45,000

Therefore, we have:

Details Amount ($)

Potential gross income (PGI) 45,000

Vacancy and collection loss (10% of PGI) (4,500)

Effective gross income (EGI) 40,500

Operating expenses: 5% of effective gross income (2,025)

Capital expenditures (10% of effective gross income) (4,050)

Net operating income  34,425 

Acquisition price = 3,420,000

Going-in capitalization rate = Net operating income / Acquisition price = $34,425 / $3,420,000 = 0.0101, or 1.01%

Therefore, the correct option is b. 1.01%.

5 0

3 years ago

SportsWorld purchased a delivery van for $23,000 with a residual value of $3,000 on September 1, 2019. The van has an estimated

baherus [9]

Answer:

$1,333

Explanation:

The computation of the deprecation expense is shown below:

= (Original cost - residual value) ÷ estimated useful life

= ($23,000 - $3,000) ÷ 5 years

= $4,000

This $4,000 depreciation expense come for a year but the asset is purchased on September 1, 2019 and the books are closed on December 31, 2019

So, the four months depreciation expense would be

= Yearly depreciation expense × number of months ÷ (total number of months in a year)

= $4,000 × (4 months ÷ 12 months)

= $1,333.33

The four months is calculated from September 1 to December 31

8 0

4 years ago

Indiana Co. began a construction project in 2021 with a contract price of $163 million to be received when the project is comple

iragen [17]

Answer: Recognized $12.68 million gross profit on the project in 2022

Explanation:

Firstly we would need to ascertain the percentage of completion in 2022. We will do this by using the costs.

The cost incurred till date is,

= $32 million (incurred in 2021) + $59 million (incurred in 2022)

= $91 million. (1)

A further $37 million is estimated to remain in costs by project completion so the total cost would be,

= $91 million + 37 million

= $128 million is the total cost to be incurred. (2)

Dividing (1) by (2) to find out how much costs have been incurred vs how much is life we have,

= 91 / 128

= 0.7109

= 71 %

71 % of the project has been completed.

We will now find out the revenue for that very year using the percentage of the project completed.

The Total Revenue is $163 million so we will take 71% of that,

= 0.71(163)

= $115.73 million can be recognized as revenue TILL DATE. (3)

To find out the Revenue for the year then we can deduct the revenue of the previous year from the Revenue till date to find out the revenue for 2022.

But first we need to find the revenue of 2021 using the same method we used to calculate the Revenue this far

= 32 million / (32 + 86 million) * 163 million

= $44.01 million in revenue in 2021 (4)

Subtracting (4) from (3) to get the revenue for 2022 we have,

= 115.73 - 44.01

= $71.72 million is therefore the revenue for the year 2022

Calculating the gross profit for the year 2022 then we can subtract the cost in 2022 from the revenue for 2022.

= 71.72 million - 59 million

= $12.72 million

The answer we got is off by $0.04 from option C so we will pick Option C as the correct answer with the discrepancy going down to rounding off errors in the Intermediate Calculation.

8 0

3 years ago