1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sophie [7]
2 years ago
6

Fill in the missing amounts.

Business
1 answer:
love history [14]2 years ago
4 0

Let understand that the organized table are intended to calculate missing numbers on Income Statement for the two companies are drawn below.

  • Here, we are calculating missing columns for Monty Corp. and Whispering Winds Corp.

  • Also understand that the bold numbers are the columns calculated according to the question.

Particulars                             Monty Corp.    Whispering Winds Corp.

Sales revenue                         $90,000                $111,000

Sales return and allowance   <u>$6,000</u><u>  </u>                 <u>$5,000</u>

Net sales                                 $84,000                 $106,000

Cost of goods sold                 <u>$53,760 </u>                <u>$65,720</u><u>   </u>

Gross profit                             $30,240                 $40,280

Operating expenses               <u>$15,120 </u>                 <u>$19,080 </u>

Net income                              <u>$15,120</u><u> </u>                 <u>$21,200</u>

In conclusion, the formulae used to derived the bolded answers are:

  • Sales revenue - Net sales = Sales returns and allowance
  • Net sales - Cost of goods sold = Gross profit
  • Gross profit - Operating expenses = Net income
  • Net sales + Sales return and allowance = Sales revenue
  • Net sales - Gross profit = Cost of goods sold
  • Gross profit - Net income = Operating expenses

See similar solution here

<em>brainly.com/question/15062414</em>

You might be interested in
Which of the following is an example of the benchmarking function of the budgeting process? A budget demands integrated input fr
Archy [21]

Answer:

The benchmarking function of budgeting system involves the evaluation of performance of managers.

The correct answer is C

Explanation:

The integration of inputs from different business inputs and function is done at the planning stage of budgeting. It does not involve benchmarking.

Budgeting requires requires close cooperation between accountants and operational personnel. This is referred to as active participation in  budgeting. It helps to overcome behavioural challenges of budgeting.

Budget figures are used to evaluate the performance of managers. This is a benchmarking function of budgeting because it involves the comparison of performance of managers with established criteria so as to determine their level of success.                                          

The budget outlines a specific course of action for the coming year. This indicates that a budget is a financial plan that outlines future courses of action. This does not require benchmarking.

                                                                                                                                                                                                                                                                                                                                                               

7 0
3 years ago
Partnerships refer to more than one owner. a limited partnership ______________.
snow_lady [41]
Is it a multiple choice question? Anyway, this is the definition of a limited partnership:

<span>A Limited Partnership is a partnership consisting of a general partner, who manages the business and has unlimited personal liability for the debts and obligations of the Limited Partnership, and a limited partner, who has limited liability but cannot participate in management.</span>
7 0
3 years ago
Mrs. Larkin rents an apartment to a couple who argue continually, disturbing other tenants. Without going through the lawful evi
natima [27]

Answer:

B.  an actual eviction

Explanation:

Actual eviction -

It refers to the process of getting rid of the tenant by the landlord, for any violation, is referred to as actual eviction.

It is a completely legal practice, where it the landlord is not not comfortable with the tenant or if the tenant violates any rules, then the landlord has the legal right to remove the person.

Hence, from the given question,

As the tenant usually disturbs the neighbors and argues, hence the landlady, Mrs, Larkin has the right to remove them, according to actual eviction.

6 0
2 years ago
You are planning a store on a large lot. Your budget only allows for 800 linear feet of walls. What is the maximum square
Galina-37 [17]

Answer:

The correct solution is "40,000 sq/ft".

Explanation:

The given value is:

Feet of walls

= 800 ft

Sides,

= 4

Now,

The square store will be:

= \frac{800}{4}

= 400 \ ft

The max footage of square will be:

= 400\times 100

= 40,000 \ sq/ft

8 0
3 years ago
The concept of materiality:
KonstantinChe [14]

Answer:

The answer is b Justifies ignoring the matching principle in certain circumstances.

Explanation:

6 0
3 years ago
Read 2 more answers
Other questions:
  • In a team, if someone gets stuck with the selected tasks for the iteration, what is the immediate next step?
    6·1 answer
  • Most lenders will expect entrepreneurs to provide equity funds in an amount of at least ____ percent of the business before appr
    5·1 answer
  • Marian, a top graduate from Loyola in Humanities, was hired by a major corporation into a management position. Marian finished t
    8·1 answer
  • Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the
    15·1 answer
  • Kindzi Co. has preferred stock outstanding that is expected to pay an annual dividend of $3.34 every year in perpetuity. If the
    14·1 answer
  • 20 pts.<br><br> When would it be better to use business emails?
    15·2 answers
  • A Chapter 7 bankruptcy proceeding is formally commenced by the _____.
    7·1 answer
  • From the choice of simple moving average, weighted moving average, exponential smoothing, and linear regression analysis, which
    13·1 answer
  • The market rate of interest​ ________.
    10·1 answer
  • Cavern Company's output for the current period results in a $6,400 unfavorable direct material price variance. The actual price
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!