Consider the following partially completed income statements for merchandising companies and compute the missing amounts under the Flynt Corp. table below the following Data Table:view the Income Statements:Data Table : Rustic Gear Flynt Corp.Sales $ 98,000 $(d)Cost of Goods Sold:Beginning Merchandise Inventory (a) 31,000Purchases and Freight In 50,000 (e)Cost of Goods Available for Sale (b) 91,000Ending Merchandise Inventory (2,200) (2,200)Cost of Goods Sold 63,000 (f)Gross Profit 35,000 114,000Selling and Administrative Expenses (c) 86,000Operating Income $10,000 $ (g)Rustic GearSales $98,000Cost of Goods Sold:Beginning Merchandise Inventory 15,200Purchases and Freight In 50,000Cost of Goods Available for Sale 65,200Ending Merchandise Inventory (2,200)Cost of Goods Sold 63,000Gross Profit 35,000Selling and Administrative Expenses 25,000Operating Income $10,000Flynt Corp.__?___$31,000__?___91,000(2,200)114,00086,000__?____
Answers
Answer:
e.60,000
f. 88,800
d. 202,800
g. Operating income 28,000
Explanation:
Calculation for the missing amounts for Flynt Corp.
e. Computaion for Purchases & freight-in
Using this formula
Purchases & freight-in= Cost of Goods Available for Sale - Beginning Merchandise Inventory
Let plug in the formula
Purchases & freight= 91,000 - 31,000
Purchases & freight= $ 60,000
f. Computation for Cost of goods sold
Using this formula
Cost of goods sold = Cost of Goods Available for Sale - Ending Merchandise Inventory
Let plug in the formula
Cost of goods sold= 91,000 - 2,200
Cost of goods sold= 88,800
d. Computation for Sales
Using this formula
Sales = Gross profit + Cost of goods sold
Let plug in the formula
Sales= 114 000 + 88,800
Sales= 202,800
g. Computation for Operating income
Using this formula
Operating income = Gross profit - Selling and Administrative Expenses
Let plug in the formula
Operating income= 114,000 - 86,000
Operating income= 28,000
Preparation for the Income statement for Flynt Corp.
Flynt INCOME STATEMENT
Sales 202,800 (i)
Cost of good sold :
Beginning Merchandise Inventory 31,000
Purchases and Freight In 60,000
Total Cost of goods available for sale 91,000
(60,000+31,000)
Less Ending Merchandise Inventory 2,200
Cost of goods sold 88,800 (ii)
(91,000-2,200)
Gross profit 114,000
(202,800 - 88,800)
Less Selling & Administrative expenses 86,000
OPERATING INCOME $28,000
Related Questions
in most experiments, trade-offs are made between validities because it is not possible to achieve all four at once. what is the most common trade off?
Answers
Increased internal validity results in decreased external validity.
When reading about other studies and planning your own, it's a good idea to keep these four major validity considerations in mind: internal, external, construct, and statistical.
When internal validity is improved, external validity frequently suffers, and vice versa. Your choice of study type represents the main objectives of your investigation. An artificial lab environment or the real world can both be used to evaluate a causal link.
It is very challenging to design a study that simultaneously fulfils all four validities. Sometimes, researchers merely concentrate on their priorities and do not even attempt to fulfil all four validities.
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FILL IN THE BLANK. Giving hr managers full control access to files in a folder called hr policies while giving hr representatives read-only access to the files in the same hr policies folder is an example of ___ access controls
Answers
Giving HR managers full control access to files in a folder called HR policies while giving HR representatives read-only access to the files in the same HR policies folder is an example of role based access controls.
What is role based access control?It is a term in computer system security which means giving the right access to the authorized users only. The role based access control restricts the access to the system for unauthorized users, so it secures the system from unwanted changes. The role based access control involves certain permission settings and privileges based on what is the role of the users and whether the user is an authorized personnel to perform any change to the system or data.
Your question is incomplete, but most probably the answer choice were:
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How do you think the U.S. government knows how to set these interest rates?
Answers
Explanation
U.S government with the help of central bank they decide how interset rates going to be if they have to be increased or decreased
Central bank do two thing it may increase or decrease ....what ??
CRR or SLR
CRR is also know as current reserve ratio which means that certain amount of money banks has to deposite in the central bank of their deposit and if government increase that CRR RATE means central bank adopted "tight money policy " or in simple terms they want to decrease the money supply from market so as to control inflation and if the decrease the CRR means they want to flow market with money supply .
So if CRR is increased means less money banks had to deposit in the central bank then they have less money with them to give as loan. so , interest rate is increase
And if CRR is increased the vice a virsa will happen
SLR - statuary liquidity fund
This is the sum of money , gold bank had to keep with themself as a emergency fund for bank run
It apply same way as of CRR it increase interest rate increase and if decrease then decrease
t/f if tom smith works in the in counsel depart of supermart corporation then he will be considered an employee not a nonemployee agent.
Answers
True. If Tom Smith works in the in-house counsel department of Supermart Corporation, he will generally be considered an employee rather than a nonemployee agent.
Employees are individuals who work for an organization under an employment relationship. They typically receive regular wages or salaries, have specific job responsibilities, and are subject to the control and direction of the employer. In the case of Tom Smith working in the in-house counsel department, he would likely be fulfilling a role within the organization as an employee, providing legal advice and services directly for Supermart Corporation.
Nonemployee agents, on the other hand, are individuals who work on behalf of an organization but are not considered direct employees. They may include independent contractors, consultants, or individuals from external firms who provide specialized services or expertise to the organization. In the given scenario, if Tom Smith is working as an in-house counsel for Supermart Corporation, it is more likely that he would be classified as an employee rather than a nonemployee agent.
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For both articles, what can you tell me about the values of Harvard and Entrepreneur?
Answers
The article referenced is "If you want to be an entrepreneur, don't go to Harvard.
What are the values of the Harvard Graduate viz a- viz that of the Entrepreneur?Regardless of the size of the organization, "Core Values" should be prioritized. Values direct the path of business, influencing strategy and decision making. Essentially, basic principles serve as the foundation around which we develop our firm. Core Values provides several advantages to the firm.
Students at Harvard have access to classes, research institutions, and faculty mentors from around the university. It's the ideal location to explore your favorite and yet-to-be-discovered academic interests, with world-renowned teachers, cutting-edge resources, and personalized training.
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When an entrepreneur takes some of his profits and replaces old machinery, he is investing in
A. Natural Resources
B. Human Capital
C. Land
D. Capital Goods
Answers
Answer:
D. Capital Goods
Explanation:
Capital goods are physical assets that a business uses to generate revenues. Usually, capital goods have a useful life beyond one year. It implies that they are not meant for sale in the current financial year.
Capital goods include machinery, plants, and equipment, and other long term tangible assets. Some capital goods require a considerable sum of funds to acquire. Costs incurred in acquiring capital goods are spread over the number of their useful life.
Answer:
ok
Explanation:
ok
Place the steps in order for inserting a video link into a document.
Place the cursor at the
insertion point
Click the Online Video
button
Preview the video before
saving the document
Click Insert tab
Search for and select the
video
Answers
Choose Online Video from the ribbon's Insert tab. Insert the URL you copied in step 2 into the Insert Video dialog box. Choose Insert.
What actions are required to add a hyperlink to a document?Make a link to a specific web page.
The text or image that you want to appear as a hyperlink should be selected. Input Ctrl+K. You may also choose Link from the shortcut menu by right-clicking the text or image and selecting it.
What is the best way to add a video to a Word document?
Add a video, sound, or movie to Microsoft Word, PowerPoint, or Excel.
Click Object from the Insert menu, then select the Create from File tab.
Locate the movie (or sound wave) you wish to insert by clicking Browse and then browsing.
Choose a movie (video clip or sound wave)
Press Insert.
Double-click a media file's icon to start playing it.
Select OK.
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difference betwee auditor and finance managys
Answers
Answer:
Image result for difference between auditor and finance manager
Auditor ensures that the businesses are saved from any fraud by highlighting any discrepancies undertaken in accounting methods whereas a Finance manager provide with accurate and detailed financial reports which are vital for the profitability of the business.
Explanation:
Lincolnville Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March the following petty cash receipts were found in the petty cash box.
3/5 Stamp inventory $39
3/7 Freight-out $21
3/9 Miscellaneous Expense $6
3/11 Travel Expense $24
3/14 Miscellaneous Expense $5
The fund was replenished on March 15 when the fund contained $3 in cash. On March 20, the amount in the fund was increased to $150.
Journalize the entries in March that pertain to the operation of the petty cash fund.
Answers
Journalize the entries in March that pertain to the operation of the petty cash fund.
Petty cash is a small amount of cash kept on hand to cover minor expenses where a check is not practical or cost-effective to use. The imprest petty cash system is a method of accounting for petty cash transactions that involves keeping a small amount of cash on hand and replenishing it periodically.
On March 1, the petty cash fund was established with a balance of $100. Throughout the month of March, several petty cash receipts were found in the petty cash box totaling $95. These receipts were for stamp inventory ($39), freight-out ($21), miscellaneous expenses ($6 and $5), and travel expenses ($24).
On March 15, the petty cash fund was replenished. The journal entry to record the replenishment would be:
Debit: Petty Cash $95
Credit: Cash $95
This entry restores the petty cash fund to its original amount of $100. The amount of cash on hand in the petty cash fund is now $0.
On March 20, the amount in the fund was increased to $150. The journal entry to record this transaction would be:
Debit: Petty Cash $50
Credit: Cash $50
This entry increases the amount of cash on hand in the petty cash fund from $100 to $150.
At the end of the month, the total of the petty cash receipts ($95) and the amount of cash on hand in the petty cash fund ($55) should equal the original amount of the petty cash fund ($100).
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Which statement is correct regarding the percentage of qualified medical and dental expenses taxpayers will be allowed to deduct on their 2019 tax return?
Answers
Answer:
7.5%
Explanation:
In 2019, the Internal Revenue Service(IRS) United States allows taxpayers deduct qualified medical and dental expenses that exceed 7.5% of adjusted gross income(AGI). Example if your adjusted income for relevant year is $60000 and your medical expenses amount to $6000, your deductions will amount to $60000*0.075= $4500=$6000-$4500=$1500. Therefore you are eligible to deduct $1500 from AGI
The price of a Honda Accord
a. and the price of a Honda Accord divided by the price of a Honda Civic are both real variables
b. and the price of a Honda Accord divided by the price of Honda Civic are both nominal variables.
c. is a real variable, and the price of a Honda Accord divided by a Honda Civic is a nominal variable.
d. is a nominal variable and the price of a Honda Accord divided by the price of a Honda Civic is a real variable.
Answers
Answer:
d. is a nominal variable and the price of a Honda Accord divided by the price of a Honda Civic is a real variable.
Explanation:
In domain of economics, nominal varable are value that can be measured in terms of it's monetary value of the price that exist at that particular period of time. For instance blood type and genotype.
real value on the other hand is been measured based on goods/services, it's is the value even when inflation has set in.
esther, a manager at a customer service call center, reprimands her subordinates each time they are late to work. thus, esther is using
Answers
Esther, as the manager at a customer service call center, is using negative reinforcement when she reprimands her subordinates each time they are late to work.
What is meant negative reinforcement?
Negative reinforcement is a kind of disciplinary action.
Esther, as a manager at a customer service call center, is using disciplinary action as a form of management technique. Specifically, she is reprimanding her subordinates for being late to work.
Disciplinary action is a way of addressing and correcting employee behavior that does not meet the expectations or standards of the workplace. It is a common approach used by managers to enforce rules and policies, and to hold employees accountable for their actions or performance.
This approach aims to decrease the undesired behavior (tardiness) by applying an aversive stimulus (reprimand) when the behavior occurs.
However, it's important for managers to ensure that disciplinary action is applied consistently, fairly, and in compliance with company policies and applicable laws and regulations.
Effective communication, coaching, and performance feedback are also important aspects of managing employee behavior and performance.
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The effect acids have on most metals is called _____.
dehydration coating corrosion ionization Automobile batteries contain _____. sulfuric acid hydrochloric acid acetic acid carbonic acid
Answers
Answer:
yes sir uryan
Explanation:
go follow my meme page on Insta gram please I just started it
Username is shawty.tedo
Also I hope you have a wonderful day today and get all your work done. I am proud of you!! you have made it through the week and even though school is going back in session for tons of us tomorrow. summer break is almost here!
Just keep pushing yourself you’re almost there! but remember don’t be harsh on yourself and take your time. Take care of yourself and make sure that you’re there for yourself too just like you’re there for others. YOU matter! no matter what you think. we will all get through hard times and it doesn’t matter if it takes years, months, weeks, days, once again it doesn’t matter because You will get through it and you’ll be so proud of yourself just like I am. Don’t give up now. if others try put you down show them that you’re unbreakable and that you’re more worth then they think. Harsh words don’t define your worth. you’re amazing and you are you. you being different from others but that doesn’t mean you’re any less important. you are you and that’s what makes you so unique. Im proud of you Keep going And spread the love
Answers
Answer:
. ...........
Thank you
Thank youuuu :)
Internships are usually paid.
True or False
Answers
Answer:
Depending on you're position. Can not be paid
Explanation:
Although Many Employee's do pay their interns, and some of there companies recognize the value in training for somebody became an after they finished college.
Because of his job, Joseph knows how to operate machinery, design plans, and has knowledge of geography and
math. He is also colorblind. Which career is Joseph most likely a part of?
O Petroleum Engineer
Pump Operator
O Meter Reader
Electrician Installer
Mark this and return
Save and Exit
Next
Submit
Answers
Answer:
Electricista Instalador
Explanation:
Tanner-UNF Corporation acquired as a long-term investment $200 million of 6.0% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $170.0 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was $180.0 million. Required: 1. & 2. Prepare the journal entry to record Tanner-UNF’s investment in the bonds on July 1, 2021 and interest on December 31, 2021, at the effective (market) rate. 3. At what amount will Tanner-UNF report its investment in the December 31, 2021, balance sheet? 4. Suppose Moody’s bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2022, for $150.0 million. Prepare the journal entry to record the sale.
Answers
Answer and Explanation:
The journal entries are shown below:
On 1 Jul 2021
1.Investment in Bond $200.00
To Cash $170.00
To Discount on bond investment $30.00
(Being the investment in the bonds is recorded)
2. On 31-Dec-21
Cash Dr ($200 × 6÷12 × 6%) $6.00
Discount on bond investment $0.80
To Interest revenue ($170 × 6 ÷ 12 × 8%) $6.80
(Being the interest is recorded)
3. On 02-Jan-22
Cash $150.00
Discount on bond investment $29.20 ($200 - $170 - $0.80)
Loss on sale of investment $20.80
To Investment in Bond $200.00
(Being the sale is recorded)
50 POINTS
If (it) management does not "buy-in" to the plan, what might happen?
a. reduce confidence
b. nothing will change
c. increase confidence
d. management will be fired
Answers
Answer:
reduce confidence
Explanation:
i got it right on odyssey
What are 3 advantages of a command economy?
Answers
The main three advantages of command economy are listed below:
1. Centralized decision making: In a command economy, all economic decisions are made by the government. This allows for a more centralized and coordinated approach to economic planning, which can be beneficial for achieving specific economic goals, such as increasing industrial production or improving infrastructure.
2. Ability to direct resources towards priority sectors: A command economy allows the government to direct resources towards priority sectors, such as education, healthcare, and infrastructure, without the interference of market forces. This can be beneficial in ensuring that the basic needs of the population are met.
3. Greater control over inflation: Government control over the economy can help to keep inflation in check by controlling the supply of money and regulating the prices of goods and services. This can help to stabilize the economy and promote long-term growth.
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_______ is an important step of the marketing process because it involves the process of systematically collecting, recording, and analyzing data on what consumers want and need, their consumption habits, trends, and changes in the marketing environment.
a. Marketing strategy
b. Marketing information system
c. Sales forecast
d. Marketing research
Answers
Answer:
Customer relationship management
A new business should be based on an entrepreneur's individual interests because the entrepreneur must...
A. have sufficient confidence to succeed.
B. be willing to take personal responsibility.
C. have enough determination to work alone.
D. dedicate as many hours as needed to the work.
Will mark brainliest!
Answers
Answer:
A.................
Explanation:
look at my pokemon
Answer:
D
Explanation: because i said so but it might not be right
you currently own 1,000 shares of intuit co. worth $45 per share. the company has a total of 18,000 shares outstanding. suppose the company will issue 7,000 more shares at $36 per share what is the new value of each share after the new issuance? you currently own 1,000 shares of intuit co. worth $45 per share. the company has a total of 18,000 shares outstanding. suppose the company will issue 7,000 more shares at $36 per share what is the new value of each share after the new issuance? $36 $42 $38 $45
Answers
The new value of each share after the issuance is approximately $43.20, which is option C in the given choices.
To answer this question, we need to understand how share issuance can affect the value of existing shares. When a company issues more shares, it dilutes the ownership stake of existing shareholders. This means that each existing share represents a smaller percentage of the company.
In this scenario, the company is issuing 7,000 more shares at $36 per share. This means that the company is raising $252,000 ($36 x 7,000) in new capital. The total number of shares outstanding will increase to 25,000 (18,000 + 7,000).
To determine the new value of each share after the issuance, we need to divide the total value of the company by the total number of shares outstanding. Before the issuance, the company was worth $810,000 ($45 x 18,000). After the issuance, the company is worth $1,080,000 ($45 x 18,000 + $36 x 7,000).
Dividing the new value of the company by the total number of shares outstanding gives us the new value per share.
New value per share = $1,080,000 / 25,000 = $43.20
Therefore, the new value of each share after the issuance is approximately $43.20, which is option C in the given choices.
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Which of the following are reasons you can claim additional allowances CHOOSE ALL THAT APPLY
A. You file as head of household if you are eligible
B. You are a single filer and plan to make a large purchase next year such as a house or car
C. You're eligible to claim the Child Tax Credit
D. You had at least the minimum amount required of child or dependent care expenses that you plan on claiming credit
Answers
Answer:
no por que. no se inglés ponlo en español
Juan is a young sales professional. He should feel that he is at a disadvantage because his
compensation is tied to his performance. T/F
Answers
Juan should not feel that he is at a disadvantage because his compensation is tied to his performance. In fact, having compensation tied to performance can be seen as an advantage for a sales professional. This statement is false.
Here's why:
Incentive for high performance: Tying compensation to performance creates a strong incentive for sales professionals to excel and achieve their targets. Knowing that their efforts directly impact their earnings motivates them to work harder and strive for success.
Reward for exceptional performance: With performance-based compensation, sales professionals have the opportunity to earn higher rewards when they exceed their targets or perform exceptionally well. This can provide a sense of accomplishment and financial satisfaction.
Control over earnings: Performance-based compensation gives sales professionals a certain level of control over their earnings. By putting in the effort, honing their skills, and effectively closing deals, they have the ability to increase their income potential.
Clear measurement of success: Performance-based compensation provides a clear and measurable indicator of success. Sales professionals can track their progress, identify areas for improvement, and set goals to increase their earnings.
While there may be risks associated with performance-based compensation, such as the possibility of not meeting targets or facing variability in income, it is generally considered a fair and rewarding system for sales professionals. It aligns their efforts with organizational goals and provides opportunities for growth and financial success based on their performance.
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In an organization in which high-level managers make the effort to involve others in decision making and seek opinions of others, corporate culture tends to be:
Answers
Answer:
People or team oriented
Explanation:
The best organization culture is there when there is no comparison between the people who are working at different departments, different levels, etc
The rules, procedures, policies are all not for any single person
Here if the high level managers involves the others in decision making process and seek their opinions for the betterment of an organization that this represents the team oriented as the whole organization is working as a team so the same is to be considered
Rising interest rates have made borrowing more costly to consumers. As a result
of the most recent increase in interest rates, borrowing and consumption have
fallen throughout the economy, triggering a contractionary period. Growing
uneasy, citizens have been asking Congress to make an official statement as to
how long this contractionary period is expected to last. Which of the following is
an appropriate response?
Answers
Answer:
it depends on the measures taken to ensure that economy is stable.
Answer:
1. it is difficult to say since contractionary periods have varying lengths in different business cycles.
2. shock
3. high unemployment
4. two
5. expansion stage of the business cycle
Explanation:
just took it
Question 2 (1 point)
Huda wants to buy soda. A 12-pack costs $9.50. She knows that with the local sales
tax of $2.00, the total should be $11.50. However, when she gets to the checkout,
the total is now $13.00. Which type of tax is Huda MOST likely paying that would
explain the extra $1.50?
estate
excise
inheritance
O income
Question 3 (1 point)
Answers
Answer:
$2:00,o income $ 1:50 huda soda most type that tax 3)1 point )
julie has a $100,000 30-year mortgage on her new home. what type of life insurance could she purchase that is designed to pay off the loan balance if she dies within the 30-year period?
Answers
Julie can purchase a type of life insurance called mortgage life insurance, also known as mortgage protection insurance, that is designed to pay off the loan balance if she dies within the 30-year period.
Mortgage life insurance is a specific type of life insurance policy that is designed to protect homeowners by paying off their mortgage in the event of their death. With a $100,000 30-year mortgage, Julie can purchase a mortgage life insurance policy for the same amount.If Julie were to pass away within the 30-year period, the mortgage life insurance policy would pay off the remaining balance of her mortgage. This provides financial protection for her family and ensures that they would not be burdened with the mortgage payments.
It's important to note that mortgage life insurance typically pays the benefit directly to the lender to cover the mortgage balance. The coverage amount and premiums for this type of insurance can vary, so Julie should carefully compare different policies and consider consulting with a licensed insurance professional to determine the best option for her specific situation.
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When making keep or replace decisions, management should consider the: (check all that apply. ).
Answers
The trade-in allowance on the outdated equipment should be taken into account by management when deciding whether to keep or replace it.
What is trade-in allowance ?When you trade in your old vehicle, the dealer will deduct an allowance from the price of your new vehicle. This is comparable to a credit from the sale of your old car that can be applied to the cost of your new car.
The selling of automobiles is one of the most typical instances of a trade-in allowance being used. Car lots may promote a certain minimum trade-in allowance to anyone who buys a new car or truck as part of their sales strategy.
Discounts and allowances are the terms for incentives used to encourage sales and payments, respectively. Companies in the retail and wholesale sectors most frequently use discounts.
Trade-in allowances are financial rewards used in a wide range of industries. In essence, it refers to the amount by which a seller lowers the price of new property in exchange for acquiring property already owned by the buyer.
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"Nepal has a great potentiality of operating local level Industries." Justify this statement with suitable example.
Answers
Answer:
tyo comments delete kinn garyau??
According to the Nepal Rastra Bank's Economic Activity Study Report, the average industrial capacity utilization in the fiscal year 2019 was 57.1 percent, which was lower than the average capacity utilization in the previous two years.
Which is the biggest industry in Nepal?Tourism is the largest industry in Nepal, as well as the largest source of foreign income and revenue. Nepal is well-known among mountaineers for having several of the world's tallest mountains.
In Nepal, industries are very important because agriculture alone cannot meet human needs in the modern era. Due to a lack of skilled resources, Nepalese agriculture has not improved. Cottage industries that can be started locally and use locally available raw materials create jobs and supply consumer goods.
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