Net income or (Loss) = $43,128.
The provided information states that:
Elegant Decor Company
Forecasted annual income statement
Under the strategy to eliminate Department 200
Sales = $437,000
Cost of goods sold = $261,000
Gross profit = $176,000
Operating expenses
Direct expenses:
Advertising = $15,500
Store supplies utilized = $4,500
Depreciation of Store Equipment = $4,200
Total Direct Expense = $24,200
Allocated Expenses:
Sales Salaries = $64,000
($104,000-2×$24,200+($31,200÷2) = $40,000)
(104,000-$40,000)
Rental Expenses = $14,180
Bad debt expense = $9,400
Office salary = $15,600
($31,200 - ($31,200 ÷ 2))
Insurance expense = $1,724
($2,200 - $476)
Miscellaneous expense = $3,728
($4,000 - $272)
Total Allocated Expenses = $108,632
Total Expense = $132,872
($108,632 + $24,200)
Net income or (Loss) = $43,128
($176,000 - $132,872)
Answer:
The Beatles arrived at Abbey Road Studios.
Explanation:
George Martin, who was born in 1926, had a passion for music and began piano lessons when he was six years old. In 1962, The Beatles first entered Abbey Studio and met George Martin for the debut time at the EMI studio located in London.
Answer:
d. 15.09
Explanation:
425,000 sales
52,500 AR
within a year consisting of 365 days
Days Sales Outstanding
Average days late
45.09 - 30 = 15.09
on average, customers clear their payments within 45 days.
This means they are paying, on average, 15.09 days later than the given credit terms.
