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liberstina [14]
2 years ago
6

Baskin-Robbins is one of the world’s largest specialty ice cream shops. The company offers dozens of different flavors, from Ver

y Berry Strawberry to lowfat Espresso ’n Cream. Assume that a local Baskin-Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2021.
Salaries expense $12,400 Sales revenue $63,300
Inventory (July 1, 2021) 1,650 Interest income 2,000
Sales returns 1,100 Cost of goods sold 28,050
Utilities expense 2,950 Rent expense 5,400
Income tax expense 4,700 Interest expense 400
Inventory (July 31, 2021) 1,100

Required:
a. Prepare a multiple-step income statement for the month ended July 31, 2015.
b. Calculate the inventory turnover ratio for the month of July. Would you expect this ratio to be higher or lower in December 2015? Explain.
c. Calculate the gross profit ratio for the month of July.
Business
1 answer:
Colt1911 [192]2 years ago
4 0

Answer:

yes

Explanation:

yes

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Shuai is writing a report with a great deal of complicated numerical information. to clarify and simplify this information for d
AveGali [126]

She should put this into a chart or graph. This is a graphical illustration of data, in which "the data is characterized by symbols.” By organizing data, it can be more effortlessly understand what has been perceived. Subsequently, most of the data is quantitative, data tables and charts are typically used to consolidate the information. Graphs are shaped from those data tables.

6 0
3 years ago
Conclusions and recommendations are the most widely read sections of any report. Conclusions summarize a nd explain your finding
butalik [34]

Answer:

a. When drawing conclusions, make sure you summarize and explain your findings.

b. Tips for writing recommendations:

A. Your recommendations should always be the result of prior logical analysis.

B. Your recommendations should never be in the form of a command.

Explanation:

A good conclusion touches the theme or main topic, summarizes the main points, and connects with the introduction, but with a sense of closure.  Conclusions should be sound and logical.  Irrelevant conclusions are annoying to the senses.  Without a conclusion, the report will sound like one illogical move without clear direction and purpose.

Recommendations should address improvement efforts based on the problem(s) presented in the body of the report.

6 0
3 years ago
In general, business writing should be _____.
Dmitrij [34]

In general, business writing should be _____.

a.

Easy to read quickly

9 0
3 years ago
On August 2, Jun Co. receives a $8,000, 90-day, 11.0% note from customer Ryan Albany as payment on his $8,000 account receivable
GarryVolchara [31]

Answer:

August 2    Notes Receivable                   8000 Dr

                           Accounts Receivable- Ryan         8000 Cr

October 30  Interest receivable                  220 Dr

                          Interest Revenue                          220 Cr

October 31   Cash                                        8220 Dr

                            Notes Receivable                    8000 Cr

                            Interest Receivable                   220 Cr

Explanation:

When we receive the Note against the Accounts Receivable, we will credit the Accounts Receivable to close the account of Ryan and create a new current asset account of Notes Receivable on August 2.

On October 30, 90 days period of Note is complete so we will record the interest that is receivable for us on this note.

  • Interest Receivable = 8000 * 11% * 90/360  = $220

We record this as Interest Receivable as we have not received this and credit Interest revenue as it is our income.

On 31 October, when we receive cash it will be total of Notes payable and Interest so we will debit cash by 8220 and credit the Notes payable and interest receivable.

8 0
3 years ago
Which of these savings/investing options has the highest risk
Pavlova-9 [17]

Answer:

STOCKS

Explanation:

US government bond is a government security, therefore the government print more money to pay those who invest in it.

In addition bondholders are creditors of a corporation.

Stockholders, are part owners of a company. In case of bankruptcy, bondholders are given priority.

Savings accounts are protected by the Federal Deposit Insurance Corporation (FDIC) provisions.

Money market accounts are a safe investment because they are insured by the FDIC.

Therefore the investment option that has the highest risk is stocks.

7 0
4 years ago
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