On January 15, Tundra Co. sold merchandise to customers for cash of $41,000 (cost $28,000). Merchandise costing $10,600 was sold to customers for $15,600 on January 17, terms 2/10, n/30. Sales totalli

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Answer 1

Given,On January 15, Tundra Co. sold merchandise to customers for cash of $41,000 (cost $28,000). Merchandise costing $10,600 was sold to customers for $15,600 on January 17, terms 2/10, n/30. Sales totaling $32,000 were made to customers on account in January.In order to calculate the cost of goods sold and gross profit for Tundra Co.,

we need to find out the amount of inventory that was sold during January.To determine the amount of inventory sold, we need to use the following formula:Beginning inventory + purchases - ending inventory = cost of goods soldLet's calculate the beginning inventory first.

Since there is no information given about beginning inventory, we will assume that there was no beginning inventory. Therefore, the beginning inventory is $0.0+$28,000 (cost of inventory sold on January 15)+$10,600 (cost of inventory sold on January 17) = $38,600We are given that customers bought $41,000 of merchandise from Tundra Co. for cash.

Since the cost of these goods was $28,000, we can calculate the gross profit on this sale as:Gross profit = Sales - Cost of goods sold = $41,000 - $28,000 = $13,000Now, we need to consider the sale made on January 17. Here, we need to calculate the amount of cash discount that customers will receive if they pay their bill within 10 days.2% of $15,600 = $312Total amount that customers will pay if they pay within 10 days = $15,600 - $312 = $15,288We are given that total sales on account were $32,000.

This means that customers will receive goods worth $32,000 and will pay for these goods within 30 days. Now, we need to calculate the amount of cash discount that customers will receive if they pay their bill within 10 days.2% of $32,000 = $640Total amount that customers will pay if they pay within 10 days = $32,000 - $640 = $31,360

Now we can calculate the cost of goods sold as follows:Beginning inventory + purchases - ending inventory = cost of goods sold$38,600 + $0 - ending inventory = $38,600 + $10,600 + $28,000 - $32,000Ending inventory = $5,200

Therefore, the cost of goods sold is:Cost of goods sold = $38,600 + $10,600 + $28,000 - $5,200= $72,000 - $5,200= $66,800Finally, we can calculate the gross profit for January:Gross profit = Sales - Cost of goods sold= $41,000 + $15,288 + $31,360 - $66,800= $20,848

Therefore, the gross profit for January is $20,848.

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Related Questions

is matthew mark luke and john jewish

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Mark and John were jewish but luke was greek

benefits of world trade organisation

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Answer:

— Participation in the development of new rules and principles of international trade. ...

— Export diversification. ...

— Transparent, predictable and attractive investment regime. ...

— Increase of sovereign credit ratings. ...

— Strengthening positions in trade disputes

"Shonda receives dividend income from the following foreign and domestic corporations in the current tax year. Corporation Silver (foreign) Bronze (domestic) Copper (domestic) Dividends Received Percentage of U.S. Income for Past 3 Years $1,500 1,000 2,000 35% 20% 80% Determine the amount of U.S.-sourced income for each corporation."

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In the following question, among the conditions given, The amounts of U.S.-sourced income for each corporation can be found by multiplying the total dividends received by each corporation by the percentage of U.S. income for the past 3 years, respectively.

So the amounts of U.S.-sourced income for each corporation can be calculated as follows:

Corporation Silver (foreign): $1,500 × 35% = $525 Bronze (domestic): $1,000 × 20% = $200Copper (domestic):

$2,000 × 80% = $1,600

Therefore, the amount of U.S.-sourced income for each corporation is as follows:

Corporation Silver (foreign): $525

Bronze (domestic): $200

Copper (domestic): $1,600

Therefore, The amounts of U.S.-sourced income for each corporation can be found by multiplying the total dividends received by each corporation by the percentage of U.S. income for the past 3 years, respectively.

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what is the income flow associated with labour?

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Answer:

Explanation:

Factor income is the flow of income that is derived from the factors of production ,the general inputs required to produce goods and services. Factor income on the use of land is called rent, income generated from labor is called wages, and income generated from capital is called profit.

A ({bond} or {stock}) will pay income based on an interest rate, while a ({bond) or (stock)} may give dividends to investors. Both interest income and dividends contribute to the ({cost) or (return) or (risk)} on an investment.

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Answer:

A bond will pay income based on an interest rate, while a stock may give dividends to investors. Both interest income and dividends contribute to the return on an investment.

Explanation:

A bond is a long-term debt tool used by governments and corporations to raise funds. To investors, bonds offer long-term investment opportunities that pay interest based on the prevailing market rates.

A stock is the smallest unit of a company. Owning stock is owning a small portion of the company. Stockholders are entitled to share in the profits of a company; that's why they receive dividends.

An investment is a commercial undertaking that provides the investor with a financial gain. The financial gain or profits may be dividends from shares or interests from deposits.

Answer:

A bond will pay income based on an interest rate, while a stock may give dividends to investors. Both interest income and dividends contribute to the return on an investment.

Explanation:

it just make sense to me

How can you use feedback from your clients?
a. To practice reflective listening
b. To improve your effective communication
c. To improve your trust and rapport with your clients
d. To improve your skills and craft

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the answer is d : the last one

If income summary has a $13,500 debit balance before it is closed to the capital account, the company

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Answer and Explanation:

In the case when the company has the debit balance of the income summary account so there should be the net loss as the net loss have the debit balance while the credit balance net profit of the company

So

Since there is the debit balance of the income summary that means there is a net loss

So the same would be considered

Ms. Nurse has requested more money for nursing. I told her that you would evaluate her proposal and give me a full report

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A thorough evaluation of Ms. Nurse's proposal for increased funding should consider the current state of nursing, the potential impact of increased funding, and the organization's financial situation.

Next, it is important to consider the potential impact of increased funding. Will it lead to improved patient outcomes, better staff morale, or increased productivity? It is important to weigh the potential benefits against the cost of providing more funding.

Finally, it is important to consider the organization's overall financial situation and whether it can afford to provide more funding for nursing. If additional funding is granted, it may be necessary to adjust other areas of the budget to maintain financial stability.

Overall, a thorough evaluation of Ms. Nurse's proposal for increased funding should consider the current state of nursing, the potential impact of increased funding, and the organization's financial situation.

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question content arealean manufacturing philosophy reduces all of the following except a.conversion costs b.setup time c.lead time d.inventory

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A real lean manufacturing philosophy reduces all of the following except conversion costs. The correct option is "A".

Lean manufacturing is a philosophy that seeks to minimize waste and maximize efficiency in production processes. It emphasizes the elimination of non-value-added activities and focuses on the continuous improvement of processes.

In the context of manufacturing, the goal of lean is to create a flow of products or services that is smooth, predictable, and reliable.One of the main principles of lean manufacturing is to reduce waste, which includes reducing setup time, lead time, and inventory. By reducing setup time, manufacturers can change over their production lines more quickly, allowing them to produce smaller batches and respond more quickly to customer demands.

The correct option is "A".

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What are the cost of insurance to the society?

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The cost of insurance to society can be divided into two categories: direct costs and indirect costs.

Direct costs include the premiums paid by policyholders, as well as administrative costs such as underwriting and claims processing.

Indirect costs include the costs associated with fraud and moral hazards, as well as the opportunity cost of resources used to provide insurance.

Ultimately, the cost of insurance to society is an important consideration when determining the best way to protect people, businesses and organizations against potential risks and losses.

insurance can often be passed on to consumers or businesses in the form of higher prices or fees.

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select all that apply a company must make a volume trade-off decision when they blank . multiple select question. do not have enough capacity to satisfy all product demand must trade off units of one product for units of another have excess capacity that is not currently being utilized

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A company must make a volume trade-off decision when they do not have enough capacity to satisfy all product demand and must trade off units of one product for units of another. The correct option is A).

This means that the company needs to prioritize which products to produce and allocate their limited resources accordingly. In this scenario, the company must consider factors such as the profitability of each product, the demand for each product, and the costs associated with producing each product.

On the other hand, if the company has excess capacity that is not currently being utilized, they may also need to make a volume trade-off decision. In this case, the company must determine which products to produce to maximize their profits and utilize their resources effectively. The decision-making process may involve analyzing the market demand, production costs, and potential profitability of each product.

In both cases, making a volume trade-off decision requires careful analysis and consideration of various factors. It is crucial for the company to prioritize their resources effectively to ensure the most profitable outcome.

Additionally, the company must also consider the long-term implications of their decision and make strategic choices that align with their overall business objectives.

Therefore The correct option is A).

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complete question

select all that apply a company must make a volume trade-off decision when they blank . multiple select question.

A) do not have enough capacity to satisfy all product demand must trade off units of one product for units of another

B) have excess capacity that is not currently being utilized

"Project manage implementation " is included under which of following steps establishing a retrieval service? Select one: a. Design b. Analysis c. Development d. Implementation

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The phrase "Project manage implementation" is included under the step of Implementation when establishing a retrieval service.

The term "project manage implementation" refers to the process of overseeing and coordinating the execution and deployment of a project. It involves managing the activities, resources, timelines, and deliverables necessary for successful implementation. In the context of establishing a retrieval service, project management implementation would involve organizing and leading the efforts to bring the retrieval service from the planning and development stage to actual implementation.

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Imagine that you performed a nail enhancement on a client and made a mistake—you cut living skin and injured them, you applied tips that were too wide or narrow, you soaked their hands too long in acetone, etc. How would you handle a situation like this that involved a disgruntled, injured, or very upset client? What would you do to try and appease the client, fix your mistake, and avoid losing future business from this client?

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Answer: Personally I would offer a refund on the nails that they are currently getting, and or giving them a free nail appointment next time they come and make sure that all things are clean safe and ready to use for him/her next time him/she comes

Explanation:

trenton wants to buy a house but can provide only a 10 percent down payment. he probably will be required to have:

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Trenton wants to buy a house but can provide only a 10 percent down payment. he probably will be required to have:

Answer is: PMI

Not one of the three areas it focuses on is a change in business objectives during project planning (management).

Project planning focuses on how to accomplish a project within a given timeline, frequently with predetermined stages and resources. Setting definite goals is the first step in one project planning methodology. presenting the deliverables. The five phases of project management were created by the Project Management Institute and include conception and initiation, project planning, project execution, performance/monitoring, and project conclusion.

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The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.

The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before
The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before

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Answer: See Image Below

The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before

The adjusting entries for Skysong, Inc. for March is prepared from the given   selected accounts before adjusting entries have been prepared.

What are adjusting entries?

Adjusting entries are journal entries that are typically made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. Under accrual-basis accounting, the revenue recognition principle serves as the foundation for making adjusting entries for unearned and accrued revenues.

The adjusting entries are as follows:-

No.   Date           Account Tiles and Explanation       Debit        Credit

1.      March 31        Depreciation expense                      756

                       Accumulated Depreciation expense                        756

2.     March 31    Unearned Rent revenue                        5580

                            Rent revenue                                                        5580

3.     March 31      Interest Expense                                360

                            Interest payable                                                   360

4.    March 31        Supplies Expense                            1935

                               Supplies                                                             1935

5.    March 31       Insurance Expense                             1080

                            Prepaid Insurance                                                    1080

Therefore, the adjusting entries are prepared on March 31.

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Do you think lance is right to be concerned about leroy's plan for growth​

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Answer:

yes

please mark as brainliest

the prominent difference between performance reports in nonprofit and for-profit organizations is that nonprofit organizations blank .multiple choice question.generally do not compute revenue and spending variancesusually receive significant funding from sources other than salesrarely have any fixed costs

Answers

Nonprofit organizations focus on measuring their impact on society and achieving their mission, while for-profit organizations focus on measuring their financial performance and profitability in their performance reports.

The prominent difference between performance reports in nonprofit and for-profit organizations is that nonprofit organizations focus on measuring their impact on society and achieving their mission, while for-profit organizations focus on measuring their financial performance and profitability.

Nonprofit organizations are accountable to their donors, beneficiaries, and the public, and therefore, their performance reports often include qualitative and quantitative information on their social impact, such as the number of people served, lives changed, and outcomes achieved. On the other hand, for-profit organizations are accountable to their shareholders and investors, and their performance reports often include financial metrics, such as revenue, profit, and return on investment.

Ultimately, the main goal of nonprofit organizations is to fulfill their mission, while the main goal of for-profit organizations is to generate profits.

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The given question is incomplete, the complete question is:

The prominent difference between performance reports in nonprofit and for-profit organizations is that nonprofit organizations:

IF YOU KNOW BUSINESS!!! PLS I NEED HELP!!!!
Open-market purchases by the Fed

a. make the price level and value of money fall.
b. make the price level rise, and make the value of money fall.
c. make the price level and make the value of money rise.
d. make the price level fall, and make the value of money rise

Answers

Answer:

a is the acceleration of the declaration

"What would NOT be an example of a fee charged by a fund to
incentivize the sale or distribution of a fund?
a. 12b-1 fee
b. management fee
c. front-end load
d. back-end load

Answers

NOT be an example of a fee charged by a fund to

incentivize the sale or distribution of a fund b) management fee..

the fee that would not be an example of a fee charged by a fund to incentivize the sale or distribution of a fund is the b) management fee.

while all the s mentioned—12b-1 fee, front-end load, and back-end load—can be associated with fees charged by a fund to encourage sales or distribution, the management fee is not specifically designed for that purpose. the management fee is a charge imposed by the fund to cover the costs of managing and operating the fund, including administrative expenses, research, portfolio management, and other related services. it is not directly tied to incentivizing sales or distribution.

in contrast, the 12b-1 fee is an ongoing charge for marketing and distribution expenses, the front-end load is a sales charge imposed at the time of purchasing the fund, and the back-end load is a sales charge applied when redeeming or selling the fund.

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Calculate the simple interest on a loan of $9000 at an interest rate of 8% for 6 years?​

Answers

Answer:

$4,320

Explanation:

Covert 8% to a decimal, in this case is 0.08. Then multiply all three values together.

9000 * 0.08 * 6 = 4320

Required solution :

Here we have been provided with the principal, rate of interest and the time period for which the loan was taken.

Principal = $9000Rate = 8% Time = 6 years

Now, we know that simple Interest is calculated by the formula :

\(\boxed{\sf{S.I. \: = \: \frac{P \times R \times T }{100} }} \: \red\bigstar\)

Here in this formula,

S.I. is simple Interest R is rate of interest T is Time P is Principal

Putting all the values in the formula,

\(: \: \implies \: \sf{S.I. \: = \: \dfrac{9000 \times 8 \times 6 }{100} }\)

\(: \: \implies \: \sf{S.I. \: = \: \dfrac{900 \times 8 \times 6 }{10} }\)

\(: \: \implies \: \sf{S.I. \: = \: \dfrac{90 \times 8 \times 6 }{1} }\)

\(: \: \implies \: \sf{S.I. \: = \: 90 \: \times \: 8 \: \times 6 } \)

\(: \: \implies \: \sf{S.I. \: = \: 90 \: \times \: 48 } \)

\(: \: \implies \: \underline{\underline \red{\sf{S.I. \: = \: 4320}}}\)

\(\underline{ \bf{Henceforth, \: simple \: interest \: on \: that \: loan \: is \: 4320 \: dollars}}\)

Ph 897.00
780.00
help po​

Ph 897.00780.00 help po

Answers

Answer: Ph 1,677.00

Explanation:

Judging by the structure of this question, I believe this is an addition problem.

Add the numbers using the method in the picture:

      897.00

   +  780.00

    1,677.00

= Ph 1,677.00

Stakeholders and their influence- Who are the stakeholders of your business? How do these stakeholders influence your business? for a pharmacy business

Answers

Answer:

The stakeholders of a pharmacy business include:

Customers: They are the primary stakeholders of the business. They influence the business by determining the demand for the products and services offered by the pharmacy.

Employees: They are responsible for the day-to-day operations of the business. They influence the business by their level of productivity, job satisfaction, and employee retention.

Suppliers: They supply the products and services needed to run the business. They influence the business by their ability to deliver products and services on time and at a reasonable cost.

Shareholders: They own the business and have a vested interest in its financial performance. They influence the business by providing capital and by making decisions about the direction of the business.

Government: They regulate and oversee the pharmacy industry. They influence the business by imposing regulations and laws that the pharmacy must comply with.

Competitors: They also influence the business by determining the level of competition and the prices of products and services in the market.

Community: The community in which the pharmacy is located also influences the business through public opinion and support.

Health Care Providers: They play a vital role in the pharmacy business as they prescribe the medications and influence the demand of the products and services offered by the pharmacy.

Stakeholders influence the pharmacy business by making decisions, providing support, creating competition, and setting regulations. A pharmacy must take into account the interests and needs of all of its stakeholders in order to be successful in the long term.

Explanation:

The sequence of activities within the firm which begins with research and development, followed by design, and manufacturing, marketing/distribution, and customer service is the:

Answers

Answer:

cost life cycle.

Explanation:

The sequence of activities within the firm which begins with research and development, followed by design, and manufacturing, marketing/distribution, and customer service is the cost life cycle.

This ultimately implies that, the cost life cycle of a product or project is a process which involves estimating the overall amount of money to be spent on it over the course of its useful life.

Hence, it is used to determine the most cost-effective way to manufacture or produce a product.

Which of the following techniques helps a company learn more about its target market?
1. Market research
2. Publicity
3. Personal selling
4. Market segmentation

Answers

Answer:

Market research

Explanation:

1-discuss the importance of planned change and its impact on the organization.
2-critically discuss each of the planned change theories and provide examples .
3-discuss some of the key competencies of effective OD professionals?

Answers

OD professionals can effectively drive organizational change, facilitate successful interventions, and support the development and growth of individuals and organizations.

The Importance of Planned Change and Its Impact on the Organization:

Planned change is a deliberate and systematic approach to managing and implementing organizational change. It is essential for organizations to proactively adapt to external and internal forces, such as technological advancements, market shifts, or organizational restructuring. The importance of planned change lies in its ability to:

a. Enhance Adaptability: Planned change enables organizations to anticipate and respond to external changes in a proactive manner. It allows for a structured approach to identify and address areas that require improvement, ensuring that the organization remains adaptable and resilient in a dynamic business environment.

b. Improve Performance and Efficiency: Planned change initiatives often aim to optimize processes, streamline workflows, and eliminate inefficiencies. By systematically analyzing current practices and implementing targeted improvements, organizations can enhance their performance, increase productivity, and reduce costs.

c. Foster Innovation and Creativity: Change can create opportunities for innovation and creativity within an organization. By promoting a culture of continuous improvement and encouraging new ideas, planned change initiatives can stimulate innovation, leading to the development of new products, services, or processes that can drive growth and competitive advantage.

d. Enhance Employee Engagement and Commitment: Involving employees in the change process through effective communication, participation, and training can increase their engagement and commitment to the organization. When employees understand the purpose and benefits of the planned change, they are more likely to embrace it, adapt to new ways of working, and contribute actively to the organization's success.

Critically Discuss Each of the Planned Change Theories and Provide Examples:

There are several planned change theories that provide frameworks for understanding and managing organizational change. Here are three key theories and examples:

a. Lewin's Three-Step Model: Lewin's model suggests that change involves three stages: unfreezing the existing state, implementing the change, and refreezing the new state. For example, a company that aims to implement a new performance management system may first unfreeze the existing performance evaluation practices through communication and training, implement the new system, and then reinforce the new practices through feedback and rewards.

b. Kotter's Eight-Step Model: Kotter's model emphasizes the importance of creating a sense of urgency, building a guiding coalition, and effectively communicating the change vision. For instance, a healthcare organization implementing a patient-centered care approach may create urgency by highlighting the benefits for patient satisfaction, establish a coalition of key stakeholders to champion the change, and communicate the vision and its rationale across the organization.

c. Prosci's ADKAR Model: The ADKAR model focuses on individual change by addressing the five key elements: awareness, desire, knowledge, ability, and reinforcement. For instance, during a technology implementation, employees may need awareness of the need for change, desire to embrace the new system, knowledge and skills to use it effectively, and reinforcement through support and rewards for adopting the new technology.

Key Competencies of Effective OD Professionals:

Effective OD (Organizational Development) professionals possess a range of competencies that enable them to facilitate successful organizational change. Some key competencies include:

Change Management Expertise: OD professionals should have a deep understanding of change management principles, frameworks, and methodologies. They should be skilled in assessing organizational readiness for change, developing change strategies, and implementing interventions that facilitate smooth transitions.

Communication and Facilitation: OD professionals should have excellent communication skills, including active listening, clear articulation, and the ability to engage diverse audiences. They should be skilled facilitators, able to lead group discussions, resolve conflicts, and foster collaboration among stakeholders.

By embodying these key competencies, OD professionals can effectively drive organizational change, facilitate successful interventions, and support the development and growth of individuals and organizations.

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Why is Rent to Own a Rip Off?

Answers

Because you have to pay

in which situation is a country most likely to choose a fixed exchange rate for its currency

Answers

Probably the best reason to adopt a fixed exchange rate system is to commit to a loss in monetary autonomy. This is necessary whenever a central bank has been independently unable to maintain prudent monetary policy, leading to a reasonably low inflation rate.


most likely the best motivation to embrace a proper conversion scale framework is to focus on a misfortune in money related independence. This is fundamental at whatever point a national bank has been freely unfit to keep up with judicious money related strategy, prompting a sensibly low expansion rate.

introduction of logistics distribution and drawbacks what is the reasons to make half logistics distribution then why we invent power half logistics distribution ?
write its own word not use copy pasting from book or articles

Answers

Logistics distribution refers to the process of managing the flow of goods from the source of production to the point of consumption to meet customers' requirements.

It involves the activities of transportation, storage, and warehousing, as well as coordination and communication between different partners in the supply chain.

Introduction of logistics distributionThe introduction of logistics distribution has been beneficial in many ways. It has increased efficiency in the delivery of goods, reduced lead times, and improved customer satisfaction.

Moreover, it has enabled firms to operate with lean inventories, reducing the costs associated with inventory holding.

The use of technology has also improved tracking and tracing of shipments, making it easier to monitor the movement of goods throughout the supply chain.

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tabco incorporated, a calendar year, accrual basis corporation, accrued $48,800 wage and salary expense and a corresponding liability at the end of 2022. how much of the accrued expense is deductible in 2022?

Answers

The answer to the question is that the amount of the accrued expense that is deductible in 2022 is dependent on when the wages and salaries are paid.

The detailed answer is that for tax purposes, a corporation may only deduct wage and salary expenses in the year that they are paid, regardless of when they were earned or accrued. Therefore, if the $48,800 in wage and salary expense is paid in 2022, the entire amount will be deductible in 2022. However, if any portion of the accrued expense is paid in 2023 or later, the corresponding portion will be deductible in the year it is paid.

As an accrual basis corporation, Tabco Incorporated records expenses when they are incurred, even if payment is not made until a later date. Since the wage and salary expense of $48,800 was accrued by the end of 2022, the corporation can claim the entire amount as a deductible expense for the 2022 tax year.

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what are you all doing for hoolween this year?

Answers

Answer: I’m having a Halloween party with my parents and family because you know ya girl ain’t trying to get sick

Explanation:

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