Western Company recently lost its entire inventory in an earthquake. The following information is available from its accounting records: Beginning Inventory: $5,000; Purchases: $18,000; Net Sales: $40,000;The company's average gross profit percentage is 40%. Using the gross profit method, a reasonable estimate of COGS for the past period would be:__________.1) $ 23,0002) $ 24,0003) $ 16,0004) $ 18,000

Answers

Answer 1

Answer: dont care

Explanation:


Related Questions

Acme Model Trains started the year with $10,000 worth of model trains in inventory. During the year, it purchased $5,000 more model trains. By the end of the year it sold a total of $7,500 in model trains. Calculate the cost of goods sold using the handout from class or the information provided in Chapter 14.

Answers

Based on the information given the cost of goods sold is $7,500.

Using this formula

Cost of goods sold=Starting inventory + Purchases − Ending inventory

Where:

Starting inventory=$10,000

Purchases=$5,000

Ending inventory=$7,500

Let plug in the formula

Cost of goods sold=$10,000+$5,000-$7,500

Cost of goods sold=$7,500

Inconclusion the cost of goods sold is $7,500.

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_______ structures arrange people with diverse occupational specialties into formal groups based on similar products, clients, or geographic regions.

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Divisional structures arrange people with diverse occupational specialties are put together in formal groups by similar products or services, customers or clients, or geographic regions.

Which savings account will earn the most interest?
A $5,000 at 4 percent interest compounded for four years
B. $10,000 at 2 percent interesi compounded for four years
C. $10,000 at 2 percent simple interest for four years
D. $5,000 at 4 percent simple interest for four years

Answers

The savings account that will earn the most interest is $10,000 at 2 percent interest compounded for four years.

What is simple interest and compound interest?

Simple interest rate is the interest that is paid only on the principal portion of a loan. Compound interest is when both the amount deposited and the interest already earn increase in value when interest is paid.

Thus, when an account is compounded and the other earns a simple interest, the account that earns a compound interest would have a higher value than the account that  earns a simple interest.

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Answer:

The answer is A. $5,000 at 4 percent interest compounded for four years.

if identical firms remain in competitive market over long run make zero economi profit why choose to remain

Answers

Because a normal rate of return on their investment is included as part of the opportunity cost of production.

Men and women may be paid different wages under the Equal Pay Act when payment is made pursuant to a _____.

Answers

Based on the Equal Pay Act of 1963, Men and women may be paid different wages under the Equal Pay Act when payment is made under a "seniority system, a merit system, or a system that measures earnings by quantity or quality of production."

This is to make men and women have equal pay except for seniority or merit to those who deserve higher pay.

The United States Congress signed the Equal Pay Act of 1963 under President John F. Kennedy in his New Frontier Program.

The Equal Pay Act of 1963 was made to amend the Fair Labor Standards Act.

Hence, in this case, it is concluded that the Equal Pay Act of 1963 only makes men earn higher than women when it is based on seniority or merit.

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If customer satisfaction does not always lead to customer loyalty, firms may need to focus additional effort on _____ strategies..

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The firms may need to focus additional effort on retention strategies.

Retention strategies are means employed by firms to retain their customers both new and existing, over some specified period.

Where a company has high customer retention, it means customers would continue to patronize the company's products and not not defect to another product or business.

Customer retention process starts with the first point of contact in an organization and spread through the whole duration of the customer's relationship with the organization.

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how much does the dow have to drop to suspend trading

Answers

Answer:

Circuit breakers halt trading on the nation's stock markets during dramatic drops and are set at 7%, 13%, and 20% of the closing price for the previous day. The circuit breakers are calculated daily

for the past twenty years, curtis purchased its jewelry-cleaning kit components from evans’ suppliers, a local company that recently went out of business. as a recent hire to curtis, you are excited about the opportunity to search for a supplier. what should be your first step?

Answers

As a new Curtis hire, the first step in looking for a supplier is to explore priorities within your own company and find out which Curtis stakeholders, such as manufacturing and marketing, need a supplier.

Every organizational action comes from planning, there needs to be analysis, gathering of relevant information, evaluation of alternatives and therefore decision-making.

Therefore, the choice of a new supplier must be based on the company's needs, and the one that offers the best opportunity cost, the best price, service and quality must be chosen.

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why was slavery more successful than other labor systems in meeting the labor needs of the colonial america market economy

Answers

Answer:

Cheap & effective

Explanation:

this source of labor was easily abusable and by having people you don't need to pay and spend barely anything on feeding them it makes it easier to build the USA. I don't agree with the USA being founded on this but other countries were doing this so the USA did it also.

a charter application usually must be signed by the prospective stockholders called incorporaters or . then, it is filed with the appropriate state official.

Answers

A charter application must be signed by the prospective stockholders that are referred to as incorporaters or promoters.

Charter simply means a legal document that is used for turning q business into a legal entity. It should be noted that a charter is written with the purpose of creating a corporation.

A charter application usually must be signed by the prospective stockholders called incorporaters or promoters then, it is filed with the appropriate state official.

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I'LL GIVE BRAINLIEST!!!
The Smith family wants to relocate to a neighborhood with better schools before their three-year-old goes to kindergarten. They talked with Byron about properties he has for sale in neighborhoods they would like to live in. They also mentioned to Byron that they both work and may need someone to help with in-home care for their child. Byron gave them Taylor’s name to call about childcare. The Smiths also said they were having a hard time getting loan approval, so Byron suggested that they call Travis. Which best describes the jobs performed by Byron, Taylor, and Travis?

Byron is a Customer Service Representative, Taylor is a Child Care Worker, and Travis is a Loan Counselor.
Byron is a Real Estate Manager, Taylor is a Nanny, and Travis is a Loan Counselor.
Byron is a Real Estate Manager, Taylor is a Preschool Teacher, and Travis is a Customer Service Representative.
Byron is a Home Counselor, Taylor is a Nanny, and Travis is a Property Manager.

Answers

Answer:

option C Byron is a Real Estate Manager, Taylor is a Preschool Teacher, and Travis is a Customer Service Representative.

Explanation you can give other guy brainliest

According to the passage, Byron is the real estate manager, Taylor is the preschool teacher and Travis is a customer service representative.

What is real estate manager?

Real estate manager is a person who deals with property. He sells the property act as mediator between the seller and the buyer. He also determines the rental income and act as negotiator in the lease agreement.

In the passage the Byron occupation is of real estate manager who helps in the Smith family for selling their property. The child of smith requires the childcare. Thus Taylor is the preschool teacher.

Travis is the customer service representative who is requires by the smith family to approve the loans.

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Bryan's department at Farrell Manufacturing is responsible for planning, implementing, and controlling the flow and storage of products and information from the point of origin to the point of consumption. In other words, his department handles _____ management.

Answers

Answer:

Logistics

Explanation:

Logistics

Bryans department is responsible for logistics because they are responsible for planning, implementing, and controlling the flow and storage of products.

What is logistic?

This is one aspect of the implementation and the carrying out of complex business operations in the work place.

The logistics department is a place that is responsible for the flow of things in the workplace.

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the best way for federal reserve board officials to help boost a stagnant economy is to

Answers

The most beneficial way for the Federal reserve board officials to help boost such economy is to lower interest rates so that the banks can provide more loans at cheaper rates to individuals and businesses.

The federal reserve board officials are nominated by the President and Senate to oversee the activities of the federal reserve.

Typically, the stagnant economy is characteristic by increasing interest rate which will discourage borrowing from bank.

However, if the officials lower the interest rate for bank, it will encourage more provision of loans to borrowers.

Therefore, the most beneficial way is to lower interest rates so that the banks can provide more loans at cheaper rates to individuals and businesses.

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In order to make up for a budget deficit, the government can do what?

Answers

Answer:

print more money

Explanation:

it makes sense if u think bout it

Answer:

Budget deficit is when the government exceeds its budget, meaning they have spent a lot more money than they were initially supposed to, and thus need to get more money for other issues. So what the government will usually do is take out loans and sell government bonds.

Explanation:

Hope this helps :)

Why is it important to have leadership skills in a business?:​

Answers

Answer:

It is important to have leadership skills in a business because you know what you are suppose to be doing and how you suppose to be doing by others in a business. Moreover, because it take leadership to keep everything in order like it should be in a business.

Explanation:

Leaders are invaluable when it comes to leading peers in a new direction . Especially when motivating peers and communicate

Which method of bond amortization amortizes the premiums/discounts accurately and is considered a conceptually superior method

Answers

Answer:effective-interest

Explanation:

capital is the amount of money paid into a company by its owners. true or false?

Answers

Answer:

True. The Capital is the amount of money invested into a company by its owners.

What type of promise to pay does a promissory note represent?

Answers

Answer:

my left

Explanation:

Answer: unconditional

Explanation: i just got it right

In general, how would your best friend describe you as a risk taker?
A real gambler
Willing to take risks after completing adequate research
Cautious
A real risk avoider

Answers

Answer:

answer is B.............

In general my best friend would describe me as the one who is willing to take risks after completing adequate research. Thus, option B is correct.

What are benefits of taking risk in business?

When initially considered, taking risk in business may seem somewhat perilous. Yet, how each entrepreneur perceives and approaches business matters. The initial one is malleable.

When one studies subject in depth or encounters a number of negative solutions while working in the field, perception can change. With time, the second is less likely to change. By taking risk, we can help our business expand by utilizing our perception and that of our team. We must establish the boundaries of risk-taking within various sections of the firm.

Therefore we can conclude that option B is correct.

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The company makes these predictions by finding patterns and relationships in large amounts of data by using machine learning algorithms called __________.

Answers

Answer:

Neural networks

Explanation:

The company makes these predictions by finding patterns and relationships in large amounts of data by using machine learning algorithms called neural networks.

It is the responsibility of ________ to determine the ethical approach to setting prices so consumers find value and the firm can make a profit.

Answers

Based on business strategy, it is the responsibility of Marketers to determine the ethical approach to setting prices so consumers find value and the firm can make a profit.

The role of the marketer is basically to ensure and determine the pricing strategies of the products such that the targeted consumers can get value from them while the firm as well makes a profit.

Marketers also perform other typical roles like creating awareness for the products.

Also, they perform functions like advertisement campaigns and targeting techniques in response to demographic figures.

Hence, in this case, it is concluded that the correct answer is "Marketers."

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Cashews, Inc. issued $100,000, 6% bonds at face value on January 1. The bonds pay interest semiannually on June 30 and December 31. For the year ended December 31, the amount of interest paid equals ______ and is reported on the statement of cash flows as a(n) ______ activity. Multiple choice question.

Answers

The answer is $6,000 and operating

Your friend, Alicia, is a graduating senior about to head to college in the fall. Alicia has a single checking account and is eager to open a savings account. After reading this article, she is inspired to open up multiple savings accounts to work towards her goals. Do you think it’s a good idea for Alicia to do so? Why or why not?

Answers

Answer:

It is good

Explanation:

Alicia would have an easier time splitting money and saving money towards different goals. Such as putting 40% of your paycheck into savings and splitting the 40% into 10% for each savings account.

Decision making in businesses used to be limited to management. Today, lower level employees are responsible for some of these decisions, as information systems make information available to lower levels of the business. Identify the statement that best describes unstructured decisions.

Answers

People often take decisions daily. The statement that best describes unstructured decisions is that Structured decisions are repetitive and routine decisions which are handled procedurally.

Structured decision making is simply referred to as a thoroughly organized analysis of problems so as to make a final decisions that are based mainly on achieving fundamental objectives.

All decision is made up of several primary elements such as management objectives, decision options, knowing beforehand decision outcomes etc.

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What would the new optimal solution of product 3 sold for $15, and 100 hours of labor could be purchased?.

Answers

Answer:

I don't know sorry sorry forgive me

Explanation:

sorry

Before a significant risk medical mobile app (MMA) study can commence, what does the sponsor need to do

Answers

Based on operational standards, before a significant risk medical mobile app (MMA) study can commence, the sponsor "must have an approved IDE from FDA."

What are IDE and FDA?

IDE is the acronym of Investigational Device Exemption. Approval of IDE validates the investigational device to be utilized in medical research to obtain safety and efficacy data.

Similarly, FDA is the acronym of Food and Drug Administration. The responsibility of the FDA is to ensure there is safety and security of human and veterinary commodities, including drugs, biological products, and medical devices, among others.

Hence, in this case, it is concluded that the correct answer is that the sponsor "must have an approved IDE from FDA."

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Mr. Forest, a single taxpayer, recognized a $252,000 loss on the sale of Section 1244 stock. What is the character of this loss

Answers

Based on current tax laws, the character of this loss is $50,000 ordinary loss and $202,000 capital loss.

Tax laws stipulate that when it comes to losses from section 1244 stock, $50,000 is the maximum that can be stipulated for losses to a single person with the rest being treated as capital loss.

This means that $50,000 will be stipulated as ordinary losses here and the capital loss will be:

= 252,000 - 50,000

= $202,000

In conclusion, $50,000 is ordinary loss and $202,000 is capital loss.

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Beverly, the manager of a branch location of a large law firm, purposely controls company resources as if they were her own and encourages continued development and training of her employees. She cares about the staff deeply and even organized international volunteering activities to promote their growth. Beverly could best be described as which type of leader

Answers

Based on the given scenario Beverly could best be described as servant leader.

A servant leader is a type of leader that is has the best interest of their organization or company and employee on mind.

They are more concern about the wellbeing and the need of their employee and they tend to show support or render support to their employee.

A servant leader often show empathy and they help people to develop as well as encourage the development, growth and training of their employee or people.

Inconclusion Beverly could best be described as servant leader.

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50 POINTS
Nathan joined the US army as an infantryman. He is now serving in a foreign country, teaching local police forces how to use defensive tactics. What education might have been appropriate for Nathan to qualify for his job?

A. High school diploma
B. Associate degree in health services
C. Bachelors degree in mathematics
D. masters degree in law

Answers

Answer:

What education might have been appropriate for Nathan to qualify for his job?

A. High school diploma

(No need brainliest)

A High school diploma might have been appropriate for Nathan to qualify for his job. Thus, option A is the correct option.

What is a High school diploma?

When a high school student graduates, they are given a credential known as a high school diploma (or high school degree). After completing four-year courses of study, usually from grade 9 to grade 12, a high school diploma is granted. In both the United States and Canada, it is a requirement for graduation from high school.

According to the demands of the regional state or provincial government, the school awards the certificate. Depending on the jurisdiction, different streams or levels of high school graduation may have varying criteria for obtaining the diploma. They typically consist of a mix of chosen coursework that meets the requirements for a particular stream and passing scores on the state exit test.

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which three activities are part of the function of accounting?

Answers

The 3 activities which are part of the function of accounting includes:

Classifying financial transactions interpreting financial transactions Recording financial transactions

Accounting (including bookkeeping) refers to the process of recording, preparing, analyzing and interpreting financial information or statements for future purpose.

As regards the options, 3 activities which are part of the function of accounting includes:

Classifying financial transactions interpreting financial transactions Recording financial transactions

In conclusion, the process of accounting helps to identifies, records, classifies and communicate the company's economic events to interested users.

Missing word includes "1. prioritizing financial transactions 2. classifying financial transactions 3. planning financial transactions 4. interpreting financial transactions 5. recording financial transactions"

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