To estimate the March 31 inventory that was destroyed by fire using the gross profit method, we need to calculate the cost of goods sold (COGS) for the period from January 1 to March 31, and then subtract it from the total sales revenue for the same period to find the gross profit. We can then use the gross profit percentage to calculate the estimated cost of the destroyed inventory.
Here's the calculation:
COGS = Beginning inventory + Purchases - Ending inventory
Ending inventory = Beginning inventory + Purchases - COGS
Beginning inventory (January 1) = $261,000
Purchases (January to March) = $904,800
Sales revenue (January to March) = $1,044,000
Normal gross profit percentage = 25%
COGS = $261,000 + $904,800 - Ending inventory
COGS = $1,165,800 - Ending inventory
Gross profit = Sales revenue - COGS
Gross profit = $1,044,000 - ($1,165,800 - Ending inventory)
Gross profit = $1,044,000 - $1,165,800 + Ending inventory
Gross profit = $-121,800 + Ending inventory
Gross profit percentage = Gross profit / Sales revenue
25% = ($-121,800 + Ending inventory) / $1,044,000
$-121,800 + Ending inventory = $261,000
Ending inventory = $261,000 + $121,800
Ending inventory = $382,800
Therefore," the estimated ending inventory destroyed in the fire is $382,800."
To know more about cost of goods sold refer here
https://brainly.com/question/30767699#
#SPJ11
Which of the following is a section found in most business plans?
A. Crowdfunding
B. Bank account information
C. Legal requirements
D. Target market
Answer:
D. Target market
Explanation:
Enjoy the response
Out of the choices provided above, the legal requirements and target market are the sections generally found in most of the business plans. Therefore, the options C and D hold true.
What is the significance of a business plan?A business plan can be referred to or considered as a plan that is a part of the functions of management of the business process throughout their entirety of operations. Planning is the first and foremost step in business operation.
A business plan includes the key elements that revolve around the operations to be carried out by a business organization. The legal requirements and target market are taken into consideration while making a business plan.
Therefore, the options C and D hold true and state regarding the significance of business plan.
Learn more about a business plan here:
https://brainly.com/question/15826679
#SPJ2
Give an example of a specialist external agency that a café could use to advertise for an accountant in their head office.
Answer:
A finance reporting accountant prepares periodic financial statements required for external reporting. They collect and analyze financial data, ensuring that all reporting complies with SEC and GAAP reporting regulations and guidelines. They also prepare internal reports as required.
Explanation:
Please mark Brainliest!
What three types of taxes do most Americans pay for?
The three types of taxes do most Americans pay for are Federal, State and Municipal taxes.
The tax is a mandatory fee charge levied by any government or an individual or an organization to collect revenue for public works providing the best facilities and infrastructure.
The Federal taxes in which the U.S. of America, tax that you pay to the national government rather than to a state government.
The State taxes in which a tax that you pay to the state government rather than the national government.
The Municipal taxes are the property tax or military rate on the value of a property. The tax is levied by the governing authority of the jurisdiction in which the property is located.
To know more about taxes here,
https://brainly.com/question/16423331
#SPJ4
Can someone PLEASE PLEASE HELP ME WITH THIS!!!!!
Answer:
1. Consumer.
2. Producer.
3. Transportation.
4. Marketing.
5. Harvesting.
6. Processing.
7. Retail/food service.
Explanation:
Food supply continuum can be defined as a cycle of how livestock (animal products) moves from the producer to the consumers. The main goal of the food supply continuum is to safely provide quality animal products to the consumers.
Basically, the seven (7) steps or segments in the food supply continuum include the following;
1. The segment which is responsible for safe handling of the animal product (beef, pork, lamb) in their homes is the consumer.
2. The producer is responsible for raising a healthy animal.
3. The segment which carries the animal from the farm to the market is transportation.
4. The segment which sells the animal to the packer is marketing.
5. The segment which harvests the animal is harvesting. It involves the slaughtering of the animal.
6. The segment which processes the carcasses into retail cuts is processing.
7. The segment which involves a negotiator is the retail/food service.
During the purchasing stage of e-commerce, accepted payment methods typically vary because _____.
During the purchasing stage of e-commerce, accepted payment methods typically vary because additional safeguards and related measures are required for first-time buyers in B2C e-commerce.
The rule that guarantees secure online transactions is eCommerce security. It includes measures that protect those who engage in the online purchasing and selling of products and services. By implementing eCommerce security fundamentals, you may win your consumers' trust. According to the authentication concept in eCommerce security, both the customer and the vendor must be genuine. Integrity is yet another key idea in eCommerce security.
It entails making sure that whatever data users have provided online is preserved in its original form. To constantly fend against security threats, businesses should use a variety of eCommerce security policies and methods. Multi-factor authentication is crucial in addition to fundamental authentication methods like usernames and passwords and SSL.
Learn to know more about E-commerce on
https://brainly.com/question/1295884
#SPJ4
Asset sales, Usage fees, Brokerage frees, and advertising are all ___?
Types of businesses
sources of business revenue
Subscriptions
All of the above
Answer:
sources of business revenue
Explanation:
Revenue is the money a business gets from its normal trading activities. It is the income a business obtains through the sales of goods and services to customers. Revenue includes discounts received and purchase returns.
The sale of an asset is revenue to a business because it will receive money from the transaction. Usage fees, Brokerage fees, and advertising are money that businesses receive for offering services.
A door-to-door salesperson knocks on Mary's door and convinces her to purchase the Wonder Vacuum for $500. Soon after the salesperson leaves, Mary begins to have second thoughts about the transaction. Which statement about the situation is correct
what is consumer's Equilibrium?
Answer:
\( \huge{ \red{A} \green{N} \blue{S} \orange{W} \pink{E} \red{R} \blue{:-}}\)
When consumers make choices about the quantity of goods and services to consume, it is presumed that their objective is to maximize total utility. In maximizing total utility, the consumer faces a number of constraints, the most important of which are the consumer's income and the prices of the goods and services that the consumer wishes to consume. The consumer's effort to maximize total utility, subject to these constraints, is referred to as the consumer's problem. The solution to the consumer's problem, which entails decisions about how much the consumer will consume of a number of goods and services, is referred to as consumer equilibrium.
Police are investigating the site of a convenience store robbery. The glass door was
broken, and it looks as if several packages of cigarettes are missing from behind the
counter. One police officer notices a man walking past the store and gets an odd
feeling about him. He stops the man and insists on searching his pockets. Inside the
man's pockets, police find several packs of cigarettes. They arrest the man and
charge him with the crime. Unfortunately, the judge throws out the charges. What is
MOST likely the judge's reason for dismissal?
A-The man is under 18 years old.
B-The man did not have money to post bail.
C-The policeman did not have probable cause to search the man.
D-The policeman did not have enough evidence that the man was the robber.
The MOST likely judge's reason for dismissal is the policeman did not have enough evidence that the man was the robber. Thus the correct option is D.
What is Robbery?Theft or robbery is defined as the stealing of someone else's property without their permission and using force or a threat of force that exhibits fear in them to perform any action against them.
To prove a crime against someone requires one to submit enough evidence which helps to establish the claim as the justice system is based on evidence not on arguments.
In the given case, police found the activity of the men suspicious as they found cigarette packets from him. There is no evidence that he has stolen the cigarette packets might be possible he has purchased them.
So due to a lack of evidence against the person the Judge dismissal the case. Therefore, option D is appropriate.
Learn more about Robbery, here:
https://brainly.com/question/19151712
#SPJ2
In a short response of approximately 75 words, explain what type of company would elect to develop and manage an internal marketing department.
The company would elect to develop and manage an internal marketing department in Mid-sized regional companies.
What is internal marketing?Organizational objectives, products, and services are promoted to its internal employees through internal marketing. Businesses should place high importance on internal marketing because it has become a crucial part of a successful marketing strategy.
Employee participation boosts and strengthens the company's already strong culture, which fosters a positive work environment and greater relationship-building. Promoting commercial products is their primary goal.
Learn more about internal marketing, here:
brainly.com/question/27451832
#SPJ1
Suppose that an economy’s production function is Cobb-Douglas withparameter α = 0.3.a. What fractions of income do capital and labor receive?b. Suppose that immigration increases the labor force by 10 percent. What happens to totaloutput (in percent)? / The rental price of capital? / The real wage?c. Suppose that a gift of capital from abroad raises the capital stock by 10 percent. Whathappens to total output (in percent)? / The rental price of capital? / The real wage?d. Suppose that a technological advance raises the value of parameter A by 10 percent. Whathappens to total output (in percent)? / The rental price of capital? / The real wage?
Cobb-Douglas production function expresses the equation that relates capital productivity, labor income, and labor's marginal product.
Cobb-Douglas asserts that a change in labor and capital will have the same effect on production, whether it is an increase or a decrease.
Our starting point is the value of α, which is 0.3. This constant variable, whose value ranges from 0 to 1, establishes the capital's proportion to income. The Cobb-Douglas production function to ascertain the values of capital and labor. Y=AK αL 1−α
Y - Earnings
A - Calculates how productive the current technology is
K - Capital Units
L- Units of Labor
α- Capital stock share
The constant variable L, or the units of labor, implies that there has been an increase of 0.10 because there has been an increase in labor of 10%, or 0.10 in decimal terms. When the actual rental price has dropped by 6.5%. This implies that the marginal value of capital declines as capital increases.
Learn more about production function here
https://brainly.com/question/28331295
#SPJ4
You are required to fire a worker for persistent absenteeism, but you know that her absence is because she is caring for her father who is in the advanced stage of Alzheimer’s disease. You feel that the organization is being inhumane in its attitude, but your boss remains insistent. What would you do and why addressing all points above?
Answer:
It is important that an organization provides work-life balance to its employees and help them in providing assistance for the personal issues that they face which also impact their productivity and work. This creates a relationship between the employee
Explanation:
You can buy life insurance for anyone. True or false
Answer:
False
Explanation:
Answer: False
Explanation:
who is eligible to receive social security benefits?
A any american living below the poverty line
B retirees only
C retirees and people with disabilities
D people with disabilities only
Answer:
it's C
Explanation:
retirees and people with disabilities because I just got it right
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
learn more about managers here
https://brainly.com/question/32150882
#SPJ11
The qualitative characteristic of using the same accounting method each period over time refers to the concept of
Major sources of foreign direct investment in terms of frequency and dollar amount are Group of answer choices fair trade programs. startup organizations. venture capitalists. transnational corporations. microfinance.
Venture capitalists are the main sources of foreign direct investment in terms of frequency and dollar amount.
What are Venture Capitalists?Corresponds to the purchase of businesses through shareholding, whose purpose is to increase the value of shares for subsequent exit.
Therefore, the venture capitalists provides an equity fund for companies with high growth potential, supporting their development with the aim of achieving substantial return on investment (ROI).
Find out more about venture capitalists here:
https://brainly.com/question/18776651
Michael and Sandy purchased a home for $100,000 five years ago. If it appreciated 6% annually, what is it worth today
Based on an annual appreciation rate of 6%, Michael and Sandy's home would have appreciated by 33.18% over the course of five years. To calculate the current value of the home, you can multiply its original purchase price by the appreciation factor: $100,000 x 1.3318 = $133,180
Therefore, Michael and Sandy's home is worth $133,180 today.
1. Identify the initial value of the home: $100,000
2. Determine the annual appreciation rate: 6% (or 0.06 as a decimal)
3. Identify the number of years that have passed: 5 years
4. Use the formula for compound interest to calculate the worth today: Future Value = Initial Value × (1 + Appreciation Rate) ^ Number of Years
Now, let's plug in the values:
Future Value = $100,000 × (1 + 0.06) ^ 5
Solving this:
Future Value = $100,000 × (1.06) ^ 5
Future Value = $100,000 × 1.3382255776
Future Value ≈ $133,822.56
So, after five years of 6% annual appreciation, Michael and Sandy's home is worth approximately $133,822.56 today.
To know more about annual appreciation visit:
https://brainly.com/question/3224005
#SPJ11
A company purchased 400 units for $30 each on January 31. It purchased 115 units for $40 each on February 28. It sold 175 units for $56 each from March 1 through December 31. If the company uses the last-in, first-out inventory costing method, what is the amount of Cost of Goods Sold on the income statement for the year ending December 317 (Assume that the company uses a perpetual inventory system.) CHILD OA. $12,000 OB. $4,600 OC. $6,400 OD. $16,000
The cost of goods sold on the income statement for the year ending december 31, using the lifo method, would be $7,000.
to calculate the cost of goods sold (cogs) using the last-in, first-out (lifo) inventory costing method, we need to determine the cost of the units sold based on the order in which they were purchase. here's how we can calculate it:
1. calculate the cost of the units purchased on february 28:115 units * $40 per unit = $4,600
2. calculate the cost of the remaining units purchased on january 31:
(400 units - 175 units) * $30 per unit = 225 units * $30 per unit = $6,750
3. determine the total cost of the units available for sale:$4,600 + $6,750 = $11,350
4. calculate the cost of goods sold:
175 units (sold) * cost per unit (lifo) = 175 units * $40 per unit = $7,000 thus, the correct answer from the s provided is od. $16,000.
Learn more about purchase here:
https://brainly.com/question/31035675
#SPJ11
Abuse involves payment for items or services when there is no legal entitlement to that payment and the provider has not knowingly or intentionally misrepresented facts to obtain payment.
Abuse includes payment for products or services when there is no legal entitlement to that payment and the provider has not knowingly or intentionally misrepresented facts to obtain payment is a True Statement.
Abuse comprises incidents or provider actions that are contrary to established, ethical standards in medicine, business, or finance. The program may incur extra expenditures, inappropriate payments, or payments for treatments that do not adhere to generally accepted standards of care or are medically unnecessary as a result of these activities.
A few examples of abuse billing are billing for goods or services that weren't delivered and modifying claim forms to achieve a bigger reimbursement amount or charging the patient for a higher level of service than was actually provided to the patient.
Abuse involves payment for items or services when there is no legal entitlement to that payment and the provider has not knowingly or intentionally misrepresented facts to obtain payment. True/False
To learn more about abuse
https://brainly.com/question/19648539
#SPJ4
hello , What are three common tools for qualitative research in business and marketing?
Answer:
they would be in-depth interviews, focus group discussions and observation over data
Explanation:
Hope this helps, please rate and mark as brainlest :)
Stadium parking is expensive when compared with which other option? 1) Public transportation 2) Subway 3) Both of the above. 3) Both of the above.
Both public transportation and the subway are typically more affordable options than stadium parking, i'll explain why
What is the stadium parking?The stadium parking lot is a space where you can park your car, but it charges a fee for it.
The correct answer to the question "Stadium parking is expensive when compared with which other option?" is 3) Both of the above. This means that both public transportation and the subway are less expensive options when compared to stadium parking.
It is generally a good idea to consider using public transportation or the subway when attending an event at a stadium, as it can save you money and also reduce traffic congestion around the stadium.
Another question about stadium parking in https://brainly.com/question/11354738
#SPJ11
What are the depleted amounts of tangible assets and intangible assets known as?
The annual depletion in the value of a tangible asset is known as (operating, amortization, or depreciation) expenses. The intangible assets also diminish in value, and this amount is known as (operating, amortization, or depreciation) expenses.
Answer:
Depreciation ; amortization
Explanation:
The tangible assets are those assets who are seen and ever touched. For this type of assets, the depreciation expense should be charged while on the other hand the intangible assets are those assets who are not seen not ever touched so for this type of assets the amortization expense should be charged
Therefore the above should be considered
leah plans to purchase merchandise from a department store that is valued at $100. she will use $20 in-store bucks that she has earned plus a 30% discount coupon to reduce her final cost. what is the final cost of the items (before tax) if the store clerk applies the $20 bucks before the 30% discount?
If the store clerk applies the $20 in-store bucks before the 30% discount, Leah's final cost can be calculated as follows:
Step 1: Calculate the discount amount based on the 30% off coupon.
Discount amount = 30% of $100 = $30
Step 2: Subtract the discount amount from the original value of the merchandise.
Final merchandise cost after discount = $100 - $30 = $70
Step 3: Subtract the value of the in-store bucks from the final merchandise cost.
Final cost after applying in-store bucks = $70 - $20 = $50
Therefore, the final cost of the items, before tax, would be $50 if the store clerk applies the $20 in-store bucks before the 30% discount.
To learn more about discount, Click Here: brainly.com/question/13501493
#SPJ11
Lakeside Inc. is considering replacing old production equipment with state-of-the-art technology that will allow production cost savings of $10,000 per month. The new equipment will have a five-year life and cost $390,000, with an estimated salvage value of $40,000. Lakeside’s cost of capital is 10%. Table 6-4 and Table 6-5. (Use appropriate factor(s) from the tables provided. Round the PV factors to 4 decimals.)
Required:
Calculate the present value ratio of the new production equipment. (Round your answer to 2 decimal places.)
In the problem provided, Lakeside Inc. is considering replacing old production equipment with state-of-the-art technology that will allow production cost savings of $10,000 per month. The new equipment will have a five-year life and cost $390,000, with an estimated salvage value of $40,000.
Lakeside’s cost of capital is 10%. The required solution is given below:Calculation of Present Value Factor using Table 6-4:The present value factor formula is:
P.V. Factor = (1+i)-n
where ,
i = interest rate
n = number of years.
Using the above formula, we can find the present value factor for five years at 10% interest rate as follows:
P.V. Factor = (1+0.10)-5
P.V. Factor = 0.6209
Calculation of Present Value Ratio of new production equipment using Table 6-5:
The present value ratio formula is:
P.V. Ratio = Present value of cash inflows / Initial investment
Let us now calculate the present value of cash inflows using the given data:
Annual savings = $10,000
Total savings over 5 years = $10,000 x 12 months x 5 years
= $600,000
Salvage value = $40,000
Let us calculate the present value of the cash inflows using the formula as follows:
P.V. of cash inflows = $600,000 x P.V. Factor + $40,000 x (1 + 0.10)-5 x P.V. Factor
= $600,000 x 0.6209 + $40,000 x 0.6209
= $372,540
Let us calculate the present value ratio using the formula as follows:
P.V. Ratio = $372,540 / $390,000
= 0.9554
Answer: Present value ratio of the new production equipment is 0.96.
To know more about equipment , visit;
https://brainly.com/question/22097711
#SPJ11
A(n) _____ identifies how you feel about an activity or subject.
Answer:
Survey
it questions and identifies how you feel about an activity or subject.
Answer: interest theory
took it on edg.
25 PTS!!! PLEASE HURRY URGENT!!
a period in economic decline marked by falling GDP and rising unemployment for two quarters in a row is an? A. through B. contraction C . Recession D. depression A_pex
Answer:
The answer is c
Explanation:
I hope it helped
Answer:
C
Explanation:
a victim of phishing would most likely be contacted in which form of these ways?
Answer:
If you got a phishing email, forward it to the Anti-Phishing Working Group at If you got a phishing text message, forward it to SPAM (7726). Step 2.
A new business has total sales of $14,000, applied $1,350 in merchandise discounts, and had returns of $234. Calculate the business's total net sales.
Answer:
$12,416
Explanation:
Applied merchandise discounts mean discounts issued.
The net sales will be total sales minus merchandise discounts applied minus returns.
Net sales = total sales - ( discounts + returns)
Net sales = $14,000 - ( $1,350 + $234)
Net sales = $14,000 - $1,584
Net sales = $12,416
The value-percept theory utilizes three critical psychological states to measure job satisfaction. Indicate whether this statement is true or false.
The statement is true. The value-percept theory of job satisfaction, developed by Timothy A. Judge and colleagues, posits that there are five critical job facets that influence overall job satisfaction: pay satisfaction, promotion satisfaction, coworker satisfaction, supervision satisfaction, and satisfaction with the work itself. These facets are considered to be value-based perceptions that individuals form regarding their jobs.
The statement is true. The value-percept theory, also known as the Job Characteristics Model, does indeed utilize three critical psychological states to measure job satisfaction. These states are:
Meaningfulness of Work: This refers to the extent to which individuals perceive their work as meaningful and significant. It is influenced by factors such as the importance of the work and the impact it has on others.
Responsibility for Outcomes: This state relates to the degree of autonomy and control individuals have over their work and the outcomes they produce. It encompasses factors such as decision-making authority and the ability to influence results.
Knowledge of Results: This state pertains to the feedback individuals receive about their performance and the extent to which they are aware of the outcomes of their efforts. It involves elements like performance feedback and the clarity of information regarding job performance.
By assessing these three psychological states, the value-percept theory aims to understand and predict an individual's job satisfaction.
To learn more about perceptions : click here
https://brainly.com/question/9907785?
#SPJ11