Answer:
Lopez Sales Company
1. The gross margin recorded by Lopez is as follows:
Sales total = $81,600
Deducting cost of sales = $38,400
Gross Margin = $43,200
2. The gain on the land sale recognized by Lopez amounts to:
Land details:
Selling price = $81,000
less cost = $43,200
Gain on sale = $37,800
Explanation:
a) The gross margin represents the difference between the selling price and the cost price of a good. It indicates profit prior to accounting for operational expenses to determine net income or margin.
It gauges whether the business can generate sufficient income to meet typical operating costs such as rent, utilities, and employee wages.
b) The gain from the sale of any capital asset is the difference between the selling price and the book value (cost). Such a gain is separately presented in the income statement and may be subject to capital gains tax.
Answer:
The likelihood that neither of the stocks will rise is 0.14.
Explanation:
According to the Complement Rule, the combined probabilities of an event and its complement total 1.
Given the probabilities of Stock A or B increasing, to find the likelihood that neither will happen, we need to consider their complements.
The complement for Stock A =1-0.54=0.46
The complement for Stock B =1-0.68=0.32
To calculate the probability of both events not occurring, we multiply these complements.
The probability that neither of these two events occurs is 0.46 x 0.32 = 0.1472
The right option is e, controlling.
The function of controlling in management involves the systematic attempts by business management to evaluate performance against established plans, standards, or objectives by assessing whether operations align with these goals or if adjustments are necessary.
Answer:
$46,000.
Explanation:
To determine the retained earnings as of the end of 2015, we must first assess the total dividend that will be distributed to shareholders, and then combine the net income from 2015 with the leftover retained earnings from the conclusion of 2014 (after the distribution of 2014's dividend in March 2015) to arrive at the retained earnings figure for the close of 2015.
Total dividend on March 2015 = 0.7 x 100,000 = 70,000
Retained Earnings as of the end of 2015 = 94,000 - 70,000 + 22,000 = 46,000.
$1.50. Explanation: Desiree earns $120 monthly from her investments. Therefore, her annual investment income amounts to $120 x 12 = $1,440. Additionally, as a band member, she earns $200 weekly, translating to an annual band income of $200 x 52 weeks = $10,400. If her total annual income totals $49,696, her salary income is calculated as $49,696 - ($1,440 + $10,400) = $49,696 - $11,840 = $37,856. This leads to weekly earnings of $37,856 / 52 = $728. Consequently, her hourly rate is determined by $728 / 28 = $26. Desiree aspires to achieve an annual income of $51,880, and assuming her investment and band revenues remain constant, she needs to make $51,880 - $11,840 from her salary, equating to $40,040 annually. Thus, her updated weekly earnings would be $40,040 / 52 = $770 and new hourly earnings of $27.5. Hence, the raise she should request is ($27.5 - $26) = $1.50.
