At a dinner, the meal cost $22.00 and a sales tax of $1.87 was added to the bill. What is the tax rate for meals in this city

1. Beginning inventory plus net purchases equals

Morgarella [4.7K]

Answer:

D. cost of goods available for sale.

Explanation:

The cost of goods available for sale, also known as the total inventory, represents the total amount of finished products that a company had in its store for selling. The calculation of costs of goods available for sale involves adding beginning stock to the net purchases.

Beginning inventory is the ending balance in the previous financial period. It is the finished product balance brought forward of the prior period. Net purchases are the purchases adjusted for discounts and purchase returns. The costs of goods available for sale minus ending inventory will equal to the costs of goods sold.

5 0

3 years ago

Kokomochi is considering the launch of an advertising campaign for its latest dessert product, the Mini Mochi Munch. Kokomochi

Alla [95]

Answer:

Check Explanation.

Explanation:

Note that the amount are in millions(dollar).

Year one: the sales of Mini Mochi Munch = $ 8.8 million = 8.8, sales of other products = $ 1.7 million. Hence, the gross profit = (8.8 × 38%) + (8.8 × 23%) = 5.368.

The selling, general and administrative expenses = 4.9 and the depreciation is zero.

Then, the EBIT = the gross profit -selling, general and administrative expenses - Depreciation.

EBIT = 5.368 - 4.9 - 0 = 0.468.

Less income tax at 38% = 0.17784.

incremental earnings= EBIT - Less income tax at 38%.

incremental earnings = 0.468 - 0.17784.

Year two: the sales of Mini Mochi Munch = $ 6.8 million = 6.8, sales of other products = $ 1.7 million. Hence, the gross profit = (6.8 × 38%) + (6.8 × 23%) = 4.148.

The selling, general and administrative expenses = 0, and the depreciation is zero(0).

Then, the EBIT = the gross profit -selling, general and administrative expenses - Depreciation.

EBIT = 4.148 - 4.9 - 0 = −0.752.

Less income tax at 38% = −0.28576.

incremental earnings= EBIT - Less income tax at 38%.

incremental earnings = −0.752 - −0.28576 = −1.03776.

3 0

3 years ago

Marisol's online jewelry store originally sold only earrings and necklaces for women. After adding men's rings and cuff links, p

den301095 [7]

Answer: C. Profitability of unisex watches.

Explanation: Merchandising strategy is a business tactics or process that contribute or bring in sales of goods and services for profit.

Marisol made double profit when she added men cufflinks and men rings to her online jewelry store business. Now she wants to consider adding unisex watches to it, using merchandising strategy she should consider the profitability of " unisex watches ".

5 0

3 years ago

Emery Mining Inc. recently reported $150,000 of sales, $75,500 of operating costs other than depreciation, and $10,200 of deprec

Lelechka [254]

Answer:

Net Income for the Period is $41,018.

Explanation:

Emery Mining Inc.

Statement of Profit or Loss

Revenue $150,000

Operating Costs (75,500)

Depreciation (10,200)

Earnings Before Interest and Tax $64,300

Interest Expense (16,500*7.25%) (1,196)

Earnings Before Tax $63,104

Tax (35%) (22,086)

Earnings After Tax OR Net Income $41,018

3 0

3 years ago

A company has a selling price of $2,000 each for its printers. Each printer has a 2 year warranty that covers replacement of def

pychu [463]

Answer:The company's warranty expense for the month of November is $157,080. 

Explanation:

When the estimated amount is recognized-

Warranties expense A/c (Dr.) = $157,080

Estimated Warranty Liability (Cr.) = $157,080

When the repairs are actually paid, Estimated Warranty Liability will be Debited and Cash will be credited.so, The company's warranty expense for the month of November is $157,080.

i.e. (34,000 × 3% × $154 = $157,080)

6 0

3 years ago