Business, 21.06.2020 03:57 heberavilesramirez52
An income statement for Sam's Bookstore for the first quarter of the year is presented below:
Sam's Bookstore
Income Statement
For Quarter Ended March 31
Sales $900,000
Cost of goods sold 630,000
Gross margin 270,000
Selling and administrative expenses $100,000
Selling 104,000
Administration 204,000
Net operating income $ 66,000
On average, a book sells for $50. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed.
Answers: 1
Business, 22.06.2019 20:20
Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.
Answers: 2
Business, 22.06.2019 21:40
Penny poodle wanted to know which dog obedience training program was more effective: puppy pride, the approach she has been using for any years, or doggie do-right, a new approach. penny convinced 50 human companions of untrained dogs to participate in her study. the dogs and their humans were randomly assigned to complete the puppy pride or doggie do-right course. at the end of the training programs, all of the dogs were scored on their level of obedience on a standardized dog obedience checklist (scores could range from 10 to 100). the design of this study is:
Answers: 2
Business, 23.06.2019 01:00
To travelers know what to expect researchers collect the prices of commodities
Answers: 2
Business, 23.06.2019 03:00
To assess the risk and return involved in a purchase decision, which practical questions should a potential buyer ask? select three options. what can go wrong? what are the alternatives? how will it affect my status in society? what is the likely return? is the risk worth the return?
Answers: 2
An income statement for Sam's Bookstore for the first quarter of the year is presented below:
Sam's...
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